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ONGC floats subsidiary to purchase own gas; follows Reliance's lead

The board of ONGC at its meeting on February 13 approved creation of a new wholly-owned subsidiary company for gas and liquefied natural gas (LNG) business value chain, according to the firm's third quarter earnings announcement

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Reliance Buys Two-thirds Of Own Gas From KG-D6; GAIL, Shell Among Other Buyers

Reliance Buys Two-thirds Of Own Gas From KG-D6; GAIL, Shell Among Other Buyers
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Reliance buys two-thirds of own gas from recently auctioned KG-D6

Reliance buys two-thirds of own gas from recently auctioned KG-D6
Mukesh Ambani, chairman and managing director, Reliance Industries
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. Updated: 07 Feb 2021, 12:19 PM IST PTI
Billionaire Mukesh Ambani's Reliance Industries has picked up two-thirds of its own new gas from KG-D6 block that was auctioned under new rules with state-owned GAIL and Royal Dutch Shell getting smaller volumes
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Billionaire Mukesh Ambani's Reliance Industries has picked up two-thirds of its own new gas from KG-D6 block that was auctioned under new rules with state-owned GAIL and Royal Dutch Shell getting smaller volumes, sources said.
Reliance and its partner UK's BP Plc on Friday auctioned 7.5 million standard cubic metres per day of incremental gas from the R-series gas field in the KG-D6 block, benchmarking it to a gas marker for the very first time in the country.

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Reliance buys two-thirds of own gas from KG-D6; GAIL, Shell among buyers

Billionaire Mukesh Ambani's Reliance Industries has picked up two-thirds of its own new gas from KG-D6 block that was auctioned under new rules with state-owned GAIL and Royal Dutch Shell getting smaller volumes, sources said.
Reliance and its partner UK's BP Plc on Friday auctioned 7.5 million standard cubic metres per day of incremental gas from the R-series gas field in the KG-D6 block, benchmarking it to a gas marker for the very first time in the country.
The auction was held under the liberalised price discovery rules notified by the government that allowed affiliates of the gas producer to bid and buy natural gas.

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RIL consolidated Q3 net profit rises 12.5% to Rs13,101 cr

Firms/companies > R > Reliance Industries
RIL consolidated Q3 net profit rises 12.5% to Rs13,101 cr
25 January 2021
Reliance Industries Ltd (RIL) has reported a 12.5 per cent increase in its consolidated net profit at Rs13,101 crore for the quarter ended 31 December 2020 against a net profit of Rs11,640 crore in the year-ago quarter on the back of robust growth in retail and digital services segments.
Reliance said its consolidated net profit grew more than 40 per cent sequentially, with Jio showing a 15.5 per cent QoQ growth in profit and 4.1 per cent rise in ARPU, adding that its profit also gained from rising demand for petrochemicals.

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Reliance Industries Q3 consolidated PAT at Rs 13,101 cr, up 12.5% YoY

Reliance Industries Q3 consolidated PAT at Rs 13,101 cr, up 12.5% YoY
Reliance Industries reported a consolidated net profit of Rs 13,101 crore in the December quarter, up 12.5 per cent over the same period in the previous year as lower expenses cushioned earnings even as revenues declined.
Consolidated net sales in the period under review stood at about Rs 1.18 trillion, down 23 per cent from the year-ago period because the oil to chemicals, oil and gas, and retail revenue segments took a hit.
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A much lower current tax in the December quarter at Rs 295 crore compared to that in the corresponding period last year at Rs 1,996 crore, coupled with a sharp fall in finance costs, also lent support to the company’s bottom line in the quarter.

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Reliance Industries Q3 jumps 40% to Rs 14,894 crore, revenue rises Rs 1.24 lakh crore

Updated Jan 22, 2021 | 20:11 IST
RIL shares closed 2.37% lower at Rs 2,049.60 apiece on the NSE. Shares of the company have rallied 5.79% in the last one week.
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New Delhi: Reliance Industries Ltd on Friday announced results for Q3. The oil to telecom major reported strong sequential rebound across all the businesses. Reliance posted highest ever consolidated quarterly with net profit at Rs 15,015 crore, up 24.9%. Consolidated quarterly EBITDA went up 12.0% QoQ to a record Rs 26,094 crore.
RIL reported strong 38.2% sequential jump in quarterly EPS to Rs 20.5 per share. Digital Services report recorded high profits with Q3 FY21 EBITDA at Rs 8,942 crore, up 48.4% YoY. Robust recovery seen in Retail performance as EBITDA touched record high of Rs 3,102 crore, up 52.9% QoQ.

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Reliance Industries Q3 results retail Jio latest news | Business News – India TV

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Consolidated net profit in October-December stood at Rs 13,101 crore.
Billionaire Mukesh Ambani's Reliance Industries Ltd on Friday reported a better-than-expected 12 per cent rise in December quarter net profit on improving oil-to-chemical business, strong continued momentum in retail and steady telecom unit Jio.
Consolidated net profit in October-December stood at Rs 13,101 crore, compared to Rs 11,640 crore net earning in the same period a year back, the company said in a statement.
While oil-to-chemical or O2C business improved quarter-on-quarter, it was lower than year-ago earnings but this was more than made good by a spurt in consumer-facing businesses of telecom and retail which now contribute to 51 per cent of earnings as compared to 37 per cent a year back.

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RIL Q3 Profit Up 40% On Robust Revival In O2C, Retail Segments; Jio Delivers Strong Performance

RIL Q3 Profit Up 40% On Robust Revival In O2C, Retail Segments; Jio Delivers Strong Performance
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Reliance Industries, the country's largest company by market capitalisation, has reported a 40.5 percent sequential growth in consolidated profit at Rs 14,894 crore for the quarter ended December 2020, driven by a revival in Oil-to-Chemical and retail segments, and a steady growth in digital services business. The oil-to-telecom conglomerate's profit in the previous quarter stood at Rs 10,602 crore.
The company said it had recorded highest ever quarterly consolidated profit before exceptional items at Rs 15,015 crore and EBITDA at Rs 26,094 crore. Consolidated revenue from operations for the quarter increased 6.7 percent quarter-on-quarter to Rs 1,23,997 crore, rising sharply from Rs 1,16,195 crore in the September quarter 2020, with strong sequential rebound across all businesses.

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Reliance Industries, BP commit to pay for any shortfall in KG-D6 production to buyers

Reliance Industries, BP commit to pay for any shortfall in KG-D6 production to buyers
The GSPA said that the buyer on his part will be obliged to offtake the committed gas volumes or pay for it i.e. take or pay.
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By PTI
NEW DELHI: Reliance Industries Ltd and its partner BP Plc of UK have committed to pay in cash for any natural gas volumes they are unable to deliver to customers from the next wave of discoveries in the eastern offshore KG-D6 block.
According to draft gas sales and purchase agreement (GSPA) Reliance and BP have shared along with price discovery bids for incremental gas from the R-Cluster fields in KG-D6 block, the sellers will reimburse buyer money equivalent to gas sourced from alternate source to make up for any volumes they are unable to deliver.

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