Home / Knowledge / News / Textiles / Q1FY17 revenue drops 16.7% at Reliance Industries
Q1FY17 revenue drops 16.7% at Reliance Industries
18
Jul '16
Revenue at Mukesh Ambani led Reliance Industries Ltd (RIL) dropped 16.7 per cent year over year to Rs 59,493 crore for the three months ending June 30, 2016.

While, exports too declined 9.4 per cent from a fiscal ago quarter to Rs 33,282 crore, profit before tax, however surged 20.7 per cent to Rs 9,976 crore in the first quarter of fiscal 2016-17.

Cash profit also increased 13.8 per cent year on year to Rs 9,734 crore, while net profit also drove up 18.5 per cent to Rs 7,548 crore.

Sales from the petrochemicals segment declined marginally by 0.7 per cent over the prior fiscal's first quarter to Rs 20,718 crore, reflecting lower product prices resulting from decline in feedstock prices.

“This was partially offset by higher volumes mainly on account of new PTA and PET capacities and revenues declined marginally, primarily on account of lower volumes caused by disruption at Dahej,” RIL said.

Petrochemicals segment EBIT stood at a record level of Rs 2,806 crore in the reporting quarter, supported by demand led strength in polymer deltas.

Revenues from organised retail for the quarter under review soared 45.8 per cent year on year to Rs 6,666 crore from Rs 4,572 crore in the first quarter of fiscal 2015-16.

“The increase in turnover was led by growth in digital, fashion & lifestyle and petroleum products,” India's biggest private sector company stated.

“The organised retail business delivered strong PBDIT of Rs 240 crore as against Rs 198 crore in the corresponding period of the previous fiscal,” RIL added.

During the quarter, Reliance Retail added 138 stores across various store concepts, strengthened its distribution network for consumer electronics and enhanced omni commerce channel offerings. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Textiles | On 18th Aug 2017

Turkey imposes temporary duty on POY from 7 countries

Turkish ministry of economy has announced imposition of provisional...

Textiles | On 18th Aug 2017

GST return filing deadline for transitional credit

For businesses who want to avail the transitional input tax credit...

Apparel/Garments | On 18th Aug 2017

AEPC wants clarity on minimum wages for garment sector

The Apparel Export Promotion Council (AEPC) has urged the Indian...

Interviews View All

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

August 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
66.7%
No
16.7%
Skip
16.7%

Total Votes: 30

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
43.3%
No
36.7%
Skip
20.0%

Total Votes: 30

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
83.3%
No
6.7%
Skip
10.0%

Total Votes: 30

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
60.0%
No
10.0%
Skip
30.0%

Total Votes: 30


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search