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Reliance Communication unaudited consolidated Q4 net profit Rs59.08bn

April 30, 2009 · Filed Under Reliance Comm · Comment 

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Reliance Communications Limited (RCOM) today announced its unaudited consolidated financial results for the year ended March 31, 2009.

Highlights of the financial performance for the year are:

- Profit of Rs59.08bn (US$1.16bn), higher by 9.4% compared to Net Profit of Rs54.01bn (US$1.35bn) in the last year.

- EBITDA at Rs92.88bn (US$1.83bn), growth of 13.3%. EBITDA margin stable at 40.5%with strong contributions across all businesses – Wireless, Global and Enterprise
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Bharat Borge’s death; Suiside or a murder (Anil ambani chopper case)

April 30, 2009 · Filed Under Reliance ADAG · Comment 

The billionaire industrialist often commutes by helicopter, soaring far above the traffic jams that clog his sprawling hometown of Mumbai.

But Ambani’s high-flying life could have ended last week – a complaint filed with police said pebbles and gravel were found in the chopper’s engine – debris that could have caused the craft to crash.

The case took a bizarre twist this week: the technician who discovered the suspected sabotage turned up dead. Bharat Borge’s body was discovered on suburban Mumbai railway tracks after he was apparently hit by a train – a death police are calling suicide but Borge’s family believes was murder.
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DTH subscribers addition decreased over 35%

April 30, 2009 · Filed Under Reliance Entertainment · Comment 

With a drop of over 35 per cent in subscriber additions, the fourth quarter of the 2009 fiscal delivered the lowest growth in new direct-to-home (DTH) customers in the five-player private market.

As opposed to an average gross addition of around two million in the first three quarters of the last fiscal, only around 1.3 million subscribers were added in the fourth quarter (January to March), said industry sources.

And average revenue per user (ARPU) has seen a decline of up to 50 per cent among the new users added in the fourth quarter.
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Reliance Industries’s relationship with BGR

April 30, 2009 · Filed Under Reliance Industries · Comment 

Reliance Industries today said it has had a relationship spanning several years with BGR, a Washington-based lobbyist that has disclosed getting USD 190,000 from the Indian firm for lobbying with US lawmakers.

“We have a relationship with BGR for the past several years and they have been helping us in our international operations,” Reliance Industries said in a statement.
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Chevron exits Reliance Petroleum: sells 5% stake to Reliance Industries

April 30, 2009 · Filed Under Reliance Industries · Comment 

Mukesh Ambani-run Reliance Industries has bought back US energy giant Chevron Corp’s five per cent stake in Reliance Petroleum for Rs 1,350 crore.

In a disclosure to the BSE, Reliance Petroleum (RPL) said Chevron India Holdings has sold 22.50 crore shares, representing five per cent stake in RPL, to Reliance Industries (RIL). RIL has paid Rs 60 per share aggregating to Rs 1,350 crore, the same price at which the US firm had bought five per cent stake in RPL in April 2006.
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Reliance Life Insurance issued 18.55 lakh new policies: an increase of 128%

April 30, 2009 · Filed Under Reliance Insurance · Comment 

Reliance Life Insurance has issued 18.55 lakh new policies during the financial year ended March 31, 2009, clocking an increase of 128 per cent over the previous year.

The total number of in-force policies for the company increased to 33.03 lakh as against 14.48 lakh as on March 31, 2008.

Reliance Life Insurance recorded a growth of 28 per cent in the new business premium, collecting Rs 3,514 crore for the financial year 2008-09 as against Rs 2,751 crore in the previous year.
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Petronet is looking ‘gas swap’ deal with K-G D6 block

April 30, 2009 · Filed Under Reliance Industries · Comment 

Indian gas companies may soon boast their first gas swap arrangement that could slash transportation costs by more than 50 per cent.

Petronet LNG, which operates a recently expanded ten-million-tonne gas regassification plant in Dahej on the west coast, is exploring a swap option with the gas from the Krishna-Godavari field (K-G D6) on the east coast owned by Reliance Industries Ltd (RIL).
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Reliance’s Natural Gas bring down power Shortage in South India

April 30, 2009 · Filed Under Reliance Industries, Uncategorized · Comment 

Natural gas flowing from the Krishna-Godavari field of Reliance Industries Ltd. has helped reduce a power shortage in southern India, said Jayant Deo, managing director of the Indian Energy Exchange.

Demand for power on the exchange from the southern state of Andhra Pradesh has dropped after Reliance started producing the gas, Deo said in an interview in New Delhi today.
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Phone records of Bharat Borge, technician at Airworks

April 30, 2009 · Filed Under Reliance ADAG · Comment 

Phone records of Bharat Borge, the Airworks technician who was run over by a train, are being examined by the police in an attempt to understand why he went to the Vile Parle railway level crossing.

“As per his routine, Borge would board a train at Bhayander, where he resides, and alight at Santacruz after which he would go to his workplace. However, on the day of the incident, Borge seems to have alighted at Vile Parle and walked to the level crossing,” Government Railway Police (Commissioner) A K Sharma told PTI.
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Murder mystery of industrialist Anil Ambani

April 30, 2009 · Filed Under Reliance ADAG · Comment 

An alleged attempt to sabotage the helicopter of India’s second richest man, Anil Ambani, is developing into a full-blown murder mystery after the mechanic who discovered the plot was suddenly killed this week.

The helicopter’s mechanic, Bharat Borge, was found dead on a city railway track on Tuesday. The Mumbai government said it was suicide but his family is alleging foul play and calling for a federal police investigation.
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