RIL Clocks .₹ 7.4kcr Q4 Profit on Refining, Petrochem Boost
Gross refining margins in Q4 rise to $10.8/barrel even as turnover falls 9%; Net profit for entire FY16 rises to a record 27,630 cr Jio Launch After Waves Integration HDFC Bank Net Jumps 20% in Q4
Mumbai: Reliance Industries posted a 16% increase in quarterly net profit, buoyed by record performance at its refining and petrochemicals businesses, and the company said it is encouraged by the initial feedback for its ambitious broadband venture. For the January-March quarter, Reliance reported a net profit of .₹ 7,398 crore, compared with the average estimate of .₹ 7,302 crore in a Bloomberg poll of analysts.
Turnover fell 9% to .₹ 64,569 crore. For the full fiscal year, consolidated net profit rose to 17.2% to .₹ 27,630 crore while turnover dropped 24% to .₹ 2,96,091 crore.
Its Jamnagar refining complex, the world’s largest, earned $10.8 for each barrel of crude it processed in January-March, up from $10.1 a year earlier, although it was slightly lower than the $11.5 recorded for the December quarter. Turnover Net Profit EPS (Rs) 64,569 7,398 25.1
RIL to spend on capex in 2016-17, of which:
will go for refinery & petrochem expansion 70,863 6,381 21.7 -8.9 15.9 15.7 2,96,091 27,630 93.8
will go towards Reliance Jio 3,88,494 23,566 80.1 MUKESH AMBANI Chairman, Reliance Industries -23.8 17.2 17.1 grew 21% Retail business
Petrochem biz reported operating margin of
in Q4 while revenue fell yearon-year
date for Reliance Jio broadband services
Hopes to restart
retail outlets by end of current fiscal year
RIL Chairman Mukesh Ambani said the company’s downstream hydrocarbon businesses saw a year of outstanding achievement
Not too long ago, when Hyundai Motor was planning to start a third shift at its Alabama plant in the US, a team of about 30 people visited the Korean company’s Chennai factory to understand, among other things, the shift pattern, logistics management and people movement.
Ford Global Business Services, which employs close to 14,000 people in India, offers various services to Ford Motor’s global operations, including in IT, accounting, engineering services and data analytics.
Suzuki replicated Maruti Suzuki’s dealer management system at Suzuki Pakistan. The Maruti system measures operational performance of the company’s nearly 2,000 dealerships. The Japanese parent uses the Maruti-developed, IT-based warehouse management system at its Indonesian subsidiary, Suzuki IndoMobil. Indian executives were roped in to help their foreign counterparts in these process transfers. “Managing the warehouse for parts is a complex process. Given the wide range of Maruti Suzuki models, and the need to service a massive national network in time, the company has created an effective warehouse management system for parts. This too is being adapted in other markets,” said a Maruti spokesperson. As the world moves towards more of software and soft skills, there is a larger recognition of exceptional work done by companies in India and global organisations are willing to take the good work to other geographies and operations, said VG Ramakrishnan, managing director of Avanteum Advisors. “We should expect Indian entities of global organisations having larger impact on global business in future.” According to Mercedes-Benz, its Indian plant is on par with those in Germany in terms of process quality and stability.
In India, Mercedes doesn’t produce the entire car, but assembles it from imported kits. But the maker of the S-Class saloon and GLA sports utility vehicle is increasing the use of local parts to make its products more affordable here. Copying the processes and practices allows the company to quickly set up facilities in other similar emerging markets, such as Brazil.
When the Brazilians were at the Chakan plant, every visitor was assigned a mentor, with both working closely until the end of the training, said Arora, the executive director of operations at MercedesBenz India. And he sees India playing an increasingly key role whenever and wherever the company sets up a new plant.
“However, what kind of role we shall play, can’t be defined now,” he said. “It can be in the domain of training, best practice sharing, sharing of IT systems, technical change management expertise, etc.”