RIL revenues decline 2.5% in Q3; Reliance Retail, Jio boost profit

RIL's net profit for October-December 2019 increased by 13.5 per cent to Rs 11,640 crore, beating street estimates

Mukesh Ambani-controlled Reliance Industries’ (RIL’s) good performance in its new-age digital and retail businesses compared to the traditional oil and petrochemicals has started showing in its numbers with the group announcing a marginal 3.6 per cent year-on-year (YoY) increase in RIL’s profit before tax at Rs 14,962 crore for the December-ended quarter. 

On the planned sale of 20 per cent in the oil-to-chemicals  business to Saudi Aramco, officials refused to comment on the timeline for its definitive agreement. “It is not a deal that will get done by March. We cannot comment on the timelines of (definitive agreement),” said V