RELIANCE INDUSTRIES: 19% YOY DECLINE IN QUARTERLY REVENUE

Indian giant, Reliance industries reported a net-profit of 13.5% (116.4 billion) in its group business for its third quarter fiscal, ending on 31st December.  Though its good news, the company also revealed that their performance has shown a year-on-year (YOY) decline of 1.4% in sales. The onus of the decline has been put on the Oil-to-Chemicals (O2C) business. The fall is attributed to lower product pricing and a fall in the Brent crude ....