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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The core oil-to-chemicals business is in the midst of its worst crisis, dragging down profits that fund the behemoth’s other ventures. The worst part: there is little hope of an uptick anytime soon.
Reliance Industries, India’s largest company, has a problem on its hands. Its oil-to-chemicals (O2C) business, which accounted for 59% of its revenue and 53% of its profit in the 2023-24 fiscal, is in trouble.
In the April-June quarter of the current fiscal year, the business that encompasses oil refining and petrochemicals, recorded its lowest net profit in 16 quarters. At Rs 7,611 crore, the profit is less than half what it recorded in the same quarter in 2022-23. Worse, it is at the same level it was in the quarter ended March 2016, before a massive capacity addition worth $15 …
Instead of going after scale like Jio, the Sunil Bharti Mittal-led telecom giant is chasing a smaller but higher-quality customer base to grow its home broadband segment. Will the bet pay off?
The popular super app startup is seeing widening losses, Dubai’s financial zone wants more wealth and Aramco’s big quarter.
While the Rs 9,000 crore promoter investment in Q1 brings a measure of reassurance, investors will still have to wait for Jio and retail to work through their challenges.
