Reliance Industries’ oil to chemicals (O2C) business saw a dip in revenue for the January to March 2023 quarter to Rs 128,633 crore, a dip of over 11 percent compared to corresponding quarter last year, according to an earnings statement released by the firm on April 21. The decline in revenue for Q4 comes with moderation of crude prices in the fourth quarter of FY23, the conglomerate said.
Reliance Industries, in a statement said, "O2C segment posted its highest-ever operating profit (for FY23) despite global uncertainties and disruptions in commodity trade flows. Our oil and gas segment also delivered very strong growth and is now poised to contribute nearly 30 percent of India’s domestic gas production."
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