Skip to content
Search

Latest Stories

Reliance sees double-digit revenue surge

The company’s consumer divisions remain bright spots

Reliance sees double-digit revenue surge

INDIA's Reliance Industries reported a double-digit jump in fourth-quarter revenue on Monday (22), helped by steady growth in its consumer-facing businesses.

Reliance is led by Asia's richest man Mukesh Ambani and is India's most valuable company by market capitalisation.


Operating revenue rose over 11 per cent to $28.8 billion (£23.3bn) in the January-March quarter, it said in an earnings release.

But consolidated net profit fell 1.8 per cent to $2.3bn (£1.9bn), hurt mainly by higher expenses.

The Mumbai-headquartered enterprise has been driven by its oil and petrochemicals businesses, before diversifying in recent years.

The company's consumer divisions remain bright spots with its retail arm reporting a 11.7 per cent increase in profit, while its telecom unit added 10.9 million net subscribers during the fourth quarter.

Its topline growth was also helped by a 10.9 percent year-on-year revenue bump in its key oil-to-chemical (O2C) segment, which a Reliance statement attributed to higher volumes and prices.

"Strong demand for fuels globally, and limited flexibility in refining system worldwide, supported margins and profitability," Ambani said.

Full-year revenue to March 31 came in at $119.9bn (£97bn), up 2.6 per cent on-year, with net profit up 7.2 per cent to $9.47bn (£7.7bn).

(AFP)

More For You

marks & spencer

M&S has confirmed that its physical stores remain open and operational

Getty

Marks & Spencer suspends online shopping after cyber attack hits systems

Marks & Spencer (M&S) has paused all online orders following a significant cyber attack that has left the company working to restore its systems. The retailer confirmed the cyber incident earlier this week, after customers began experiencing issues with online services last weekend.

While some systems have been brought back online, others remain offline, forcing M&S to stop taking orders through its website and apps. This includes both food deliveries and clothing purchases. The company issued an apology for the inconvenience, acknowledging the disruption and stating that its team, supported by cyber experts, is working tirelessly to resolve the situation.

Keep ReadingShow less
Pakistan airspace curbs push up costs for Indian airlines

FILE PHOTO: Passengers stand in a queue before entering the Chhatrapati Shivaji Maharaj International Airport in Mumbai. (Photo by SUJIT JAISWAL/AFP via Getty Images)

Pakistan airspace curbs push up costs for Indian airlines

TOP Indian airlines Air India and IndiGo are bracing for higher fuel costs and longer journey times as they reroute international flights after Pakistan shut its airspace to them amid escalating tensions over a deadly militant attack in Kashmir.

India has said there were Pakistani elements in Tuesday's (22) attack in which gunmen shot and killed 26 men in a meadow in the Pahalgam area of Indian Kashmir. Pakistan has denied any involvement.

Keep ReadingShow less
Campbell Wilson

Air India CEO Campbell Wilson steps down as Air India Express chair

Air India CEO Campbell Wilson steps down as Air India Express chair

AIR INDIA CEO Campbell Wilson is stepping down as chair of Air India Express, the airline’s low-cost subsidiary. He will be replaced by Nipun Aggarwal, Air India’s chief commercial officer, according to an internal memo sent on Tuesday.

Wilson will also step down from the board of Air India Express. Basil Kwauk, Air India’s chief operating officer, will take his place.

Keep ReadingShow less
Air India eyes Boeing jets rejected by Chinese airlines: report

Tata-owned Air India is interested in purchasing jets that Chinese carriers can no longer accept (Photo credit: Air India)

Air India eyes Boeing jets rejected by Chinese airlines: report

AIR INDIA is seeking to acquire Boeing aircrafts originally destined for Chinese airlines, as escalating tariffs between Washington and Beijing disrupt planned deliveries, reported The Times.

The Tata-owned airline, currently working on its revival strategy, is interested in purchasing jets that Chinese carriers can no longer accept due to the recent trade dispute. According to reports, Tata is also keen to secure future delivery slots should they become available.

Keep ReadingShow less
Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

The IT service firm said its revenue would either stay flat or grow by up to three per cent

Getty Images

Infosys forecasts lower annual growth after Trump tariffs cause global uncertainty

INDIAN tech giant Infosys forecast muted annual revenue growth last Thursday (17) in an outlook that suggests clients might curtail tech spending because of growing global uncertainty.

The IT service firm said its revenue would either stay flat or grow by up to three per cent in the fiscal year through March 2026 on a constant currency basis. The sales forecast was lower than the 4.2 per cent constantcurrency revenue growth Infosys recorded in the previous financial year.

Keep ReadingShow less