{"id":396943,"date":"2021-01-23T09:17:07","date_gmt":"2021-01-23T03:47:07","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=396943"},"modified":"2021-01-23T09:52:20","modified_gmt":"2021-01-23T04:22:20","slug":"reliance-profit-soars-despite-oil-business-slump","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/reliance-profit-soars-despite-oil-business-slump\/","title":{"rendered":"Reliance profit soars despite oil business slump"},"content":{"rendered":"<p>Reliance Industries on Friday said that its profit soared 12.5 percent during the last quarter of 2020 despite sharp revenue fall in its dominant oil-to-chemicals business. <\/p>\n<p>The Mumbai-based oil-to-telecom behemoth &#8212; owned by Asia&#8217;s richest man, Mukesh Ambani &#8212; said its consolidated profit rose to over Rs 130 crores ($1.79 billion) in the last three months of 2020 from around 117 billion rupees a year earlier. <\/p>\n<p>The 12.5 percent growth figure was in line with the market estimates after a 15 percent fall in its quarterly profits during the quarter ending September 2020. <\/p>\n<p>The company said its operating revenues fell 22 percent to 1.23 trillion rupees for the quarter, while oil-to-chemical revenues plunged over 28 percent despite witnessing some improvement in the sector.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reliance Industries on Friday said that its profit soared 12.5 percent during the last quarter of 2020 despite sharp revenue fall in its dominant oil-to-chemicals business. The Mumbai-based oil-to-telecom behemoth &#8212; owned by Asia&#8217;s richest man, Mukesh Ambani &#8212; said its consolidated profit rose to over Rs 130 crores ($1.79 billion) in the last three months of 2020 from around 117 billion rupees a year earlier. The 12.5 percent growth figure was in line with the market estimates after a 15 percent fall in its quarterly profits during the quarter ending September 2020. The company said its operating revenues fell [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,177],"tags":[],"class_list":["post-396943","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/396943","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=396943"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/396943\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=396943"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=396943"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=396943"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}