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25 Jan 2009

Reliance Revenues Report | Indian Stock market Direction


Reliance results are always awaited with the bated breath as the stock is watched country wide and in a significant development Reliance has reported its first ever drop in quarterly sales in around six years and its first profit decline in three years. Next week is going to be crucial as a number of company results are going to be declared in the coming days.

One can take note of this fact that the quarterly profit has fallen down by 8.8% and same can be attributed to steep fall in petroleum product margins. It reported profit of Rs. 3,501 crore for its fiscal third quarter ended December 31, as compared to Rs 3,837 crore reported a year earlier. RIL’s Gross Refining Margins for the quarter ended December 31, 2008 were at USD10 per bar.

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