{"id":311044,"date":"2020-01-18T12:53:29","date_gmt":"2020-01-18T07:23:29","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=311044"},"modified":"2020-01-18T12:53:29","modified_gmt":"2020-01-18T07:23:29","slug":"reliance-industries-net-profit-gains-by-13-5-per-cent-as-oil-business-sees-turnaround","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/reliance-industries-net-profit-gains-by-13-5-per-cent-as-oil-business-sees-turnaround\/","title":{"rendered":"Reliance Industries net profit gains by 13.5 per cent as oil business sees turnaround"},"content":{"rendered":"<p>MUMBAI: Mukesh Ambani-led Reliance Industries (RIL) on Friday posted a robust 13.5 per cent increase in net profit for the third quarter of FY20, earning Rs 11,640 crore, as a turnaround in its oil refining business and the steady rise in profitability of its retail and telecom ventures paid dividends.<\/p>\n<p>However, the company\u2019s revenues saw a decrease of 1.4 per cent year-on-year during the quarter, falling to Rs 1,68,858 crore from Rs 1,71,300 crore recorded in the corresponding period of the previous year. &#8220;The decrease in revenue is primarily on account of a 10.6 per cent decline in O2C business revenues, with lower product price realisation, and a 6.6 per cent fall in Brent crude prices. This was partially offset by continuing growth momentum in consumer businesses,&#8221; the company said.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>MUMBAI: Mukesh Ambani-led Reliance Industries (RIL) on Friday posted a robust 13.5 per cent increase in net profit for the third quarter of FY20, earning Rs 11,640 crore, as a turnaround in its oil refining business and the steady rise in profitability of its retail and telecom ventures paid dividends. However, the company\u2019s revenues saw a decrease of 1.4 per cent year-on-year during the quarter, falling to Rs 1,68,858 crore from Rs 1,71,300 crore recorded in the corresponding period of the previous year. &#8220;The decrease in revenue is primarily on account of a 10.6 per cent decline in O2C business [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,207,143],"tags":[],"class_list":["post-311044","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-new-indian-express","category-the-new-indian-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/311044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=311044"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/311044\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=311044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=311044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=311044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}