Jio MAMI 2023: Kashmiri Pandit director sparks a philosophical pause with Varanasi film
Rajesh S Jala's debut feature The Spark (Chingari), part of Focus South Asia section at 2023 Jio MAMI Mumbai Film Festival, is a powerful voice against violence in the society.
Q2FY24 Quarterly Result Announced for Reliance Industries Ltd.
Refineries/Petro-products company Reliance Industries announced Q2FY24 results: Gross Revenue was Rs 255,996 crore (USD 30.8 billion), up 1.2% YoY, supported by continuing growth momentum in consumer businesses. Revenue for JPL increased by 10.6% YoY, led by a 7.5% increase in subscriber base and higher ARPU. Revenue for RRVL grew by 18.8% YoY with growth momentum across consumption baskets, led by Food & Grocery which grew by 33%. Revenue from the Oil & Gas segment increased significantly with incremental production of gas and condensate from the MJ field. O2C revenue declined with a 14% decrease in crude oil prices leading to lower price realization for products. EBITDA increased by 30.2% YoY to Rs 44,867 crore (USD 5.4 billion), on account of the following: Strong net subscriber addition and sharp increase in data traffic supported 80 bps margin improvement in JPL. Operating leverage and continued focus on cost management initiatives resulted in an 80 bps expansion in RRVL to 8.4%. Sustained performance in the O2C segment with strong domestic demand, optimised feedstock cost, and strength in gasoline and PVC margins. YoY decline in middle distillate cracks was offset by lower SAED. The downstream contribution was impacted by subdued global demand in well supplied market reflected in lower PE, PP, and polyester chain deltas. Better gas price realization and 66% growth in KGD6 volumes improved Oil & Gas segment earnings. However, the EBITDA margin was lower due to higher costs related to the commissioning and ramp-up of the MJ field and decommissioning of the Tapti field. Depreciation increased by 29.4% YoY to Rs 12,585 crore (USD 1.5 billion) on an expanded asset base across all the businesses, higher network utilization in the Digital Services business, and ramp-up in upstream production Finance costs increased by 25.8% YoY to Rs 5,731 crore (USD 690 million) primarily due to higher interest rates and currency depreciation. Tax expenses increased by 38.0% YoY to Rs 6,673 crore (USD 804 million) in Q2FY24. Profit after tax improved by 29.7% YoY at Rs 19,878 crore (USD 2.4 billion). Capital expenditure for the quarter ended September 30, 2023, was Rs 38,815 crore (USD 4.7 billion) with continuing accelerated investments in pan-India 5G roll-out. Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries said, “Strong operational and financial contribution from all business segments has helped Reliance deliver another quarter of robust growth. I am happy that Jio remains committed to the vision of a digital India through the launch of two innovative and transformative offerings, JioAirFiber and JioBharat phone. Based on our state-of-the-art standalone 5G network, JioAirFiber significantly expands the reach and benefit of high-speed connectivity to millions of households across India. JioBharat phone will enable digital inclusion for millions of Indians and catalyze India’s transformation to next-gen connectivity solutions. By December 2023, we will also complete the Pan-India rollout of 5G services and set a new global benchmark for the fastest roll-out of a 5G network across a large nation. Reliance Retail has continued to rapidly expand its offline as well as online presence while adding to its already impressive range of products and offerings. We are providing a fresh and friendly shopping experience across our seamless ecosystem. The strength and diversity of our Retail business model is consistently delivering robust performance. The resilient performance of the O2C segment despite volatility in energy markets was led by strong growth in fuel demand in a supply-constrained market. Weak global demand and supply overhang continued to impact downstream margins. The growth of oil and gas business is particularly noteworthy with production from KGD6 block ramping up and providing valuable fuel for the energy transition to the Indian economy.” Result PDF
RIL share price rises 2% after Q2 results; top brokerages remain upbeat on the stock
Top brokerages remain positive on RIL stock after Q2 results. RIL share price hit its fresh 52-week high of 2,635.17 on July 19, 2023, and its 52-week low of 2,012.14 on March 20, 2023, on BSE.
Is new phone a drag on RIL Arpu?
It is still early days, and one needs to monitor user experience to see if it continues to drive subscriber additions.
Jio MAMI 2023 | Guras: Darjeeling director Saurav Rai casts Nepal's biggest actors in film on sisterhood in the hills
The award-winning filmmaker's sophomore feature is in South Asia Competition at the ongoing Jio MAMI Mumbai Film Festival. RELIANCE INDUSTRIES LTD. - 500325 - Audio / Video Recording And Transcript Of Presentation On Unaudited Financial Results (Consolidated And Standalone) For The Quarter And Half Year Ended September 30, 2023
Pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the audio / video recording and transcript of the presentation made on October 27, 2023, on Unaudited Financial Results (Consolidated and Standalone) of the Company for the quarter and half-year ended September 30, 2023, is available on the Company''s website. The transcript is also attached. The presentation concluded at 9:06 p.m. (IST) on October 27, 2023. RELIANCE INDUSTRIES LTD. - 500325 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Pursuant to Regulation 30(6) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the audio/video recording and transcript of the presentation made on October 27, 2023, on Unaudited Financial Results (Consolidated and Standalone) of the Company for the quarter and half-year ended September 30, 2023, is available on Company''s website. The said transcript is also attached. The presentation concluded at 9:06 p.m. (IST) on October 27, 2023.
Mukesh Ambani gets death threat via e-mail, told to pay Rs 20 crore
Reliance Industries Chairman Mukesh Ambani has reportedly received a death threat through e-mail. The e-mail sent to the ID of Mukesh Ambani's company said the billionaire should pay Rs 20 crore or else he would be killed RELIANCE INDUSTRIES LTD. - 500325 - Announcement under Regulation 30 (LODR)-Investor Presentation
Presentation made to analyst on Unaudited Financial Results (Consolidated and Standalone) for the quarter and half-year ended September 30, 2023 RIL profit up 27% driven by growth in telecom, retail segments
Beats estimates. O2C revenue down 7.3% due to lower crude oil prices