OREANDA-NEWS. Reliance Industries Limited (RIL) today reported its financial performance for the quarter ended 30th June, 2014.

HIGHLIGHTS OF QUARTER'S PERFORMANCE (CONSOLIDATED)

Revenue (turnover) increased by 7.2 % to 107,905 crore (USD 17.9 billion)

PBDIT increased by 7.2 % to 11,016 crore (USD 1.8 billion)

Profit Before Tax increased by 16.8 % to 7,729 crore (USD 1.3 billion)

Cash Profit increased by 13.9 % to 8,984 crore (USD 1.5 billion)

Net Profit increased by 13.7 % to 5,957 crore (USD 1.0 billion)

CORPORATE HIGHLIGHTS

In May 2014, The Board of Reliance Industries Limited ("RIL") approved funding of up to 4,000 crore to Independent Media Trust ("IMT"), of which RIL is the sole beneficiary, for acquisition of control in Network 18 Media & Investments Limited ("NW18") including its subsidiary TV18 Broadcast Limited ("TV18"). In July 2014, RIL has completed the acquisition of control of Network 18 Media and Investments Limited ("NW18") including its subsidiary TV18 Broadcast Limited ("TV18").

In June 2014, Reliance Jio Infocomm Ltd. ("RJIL") has signed a telecom tower sharing agreement with Ascend Telecom Infrastructure Pvt. Ltd. Under the agreement, RJIL will utilize the pan-India tower infrastructure of Ascend to launch its 4G services, ensuring a faster and more efficient rollout to its customers.

In May 2014, Reliance Jio Infocomm Ltd. ("RJIL") and Tower Vision India, an independent tower company in India, have entered into a Master Service Agreement for tower sharing. Under the agreement, Reliance Jio would utilise the telecom tower infrastructure of Tower Vision to launch its services across the country.

In April 2014, Reliance Jio Infocomm Ltd. ("RJIL") and Reliance Communications Ltd.(" RCOM") have announced the signing of a Master Services Agreement for sharing of RCOM's extensive intra-city optic fiber infrastructure. Under the terms of the agreement, RJIL will utilize RCOM's nationwide intra-city fiber network for accelerated roll-out of its state-of-the-art 4G services across the country. In addition, in April 2014, RJIL and ATC India, one of the leading independent tower companies in India, signed a tower sharing agreement. Under the agreement, Reliance Jio would utilize the telecom tower infrastructure of ATC India to launch its services across the country.

In April 2014, Relflex™ Elastomers - Synthetic Rubber Business Group of Reliance Industries Limited, inaugurated a state-of-the-art Elastomers Customer Support Center (ECSC) at its Petrochemicals Complex in Vadodara. This initiative is in line with Reliance's endeavor to become not only a significant synthetic rubber supplier but also to provide intangible technical support to its customers and play a catalytic role in helping them grow their business, increase value additions and reduce import dependence. • RIL, BP and NIKO have issued a Notice of Arbitration on May 9, 2014 to the Government of India seeking the implementation of the "Domestic Natural Gas Pricing Guideline 2014" notified on January 10, 2014.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "RIL has delivered a record level of consolidated net profit, this quarter. This was achieved despite weak regional refining margins and a planned turnaround in our refinery. The petrochemicals business performance highlights the strength of our portfolio-mix and end-market diversity. Alongside, this robust financial performance, we also made significant progress on our growth commitments. We have a great pipeline of new projects which will give Reliance an enduring competitive advantage. We are further expanding our retail business in existing markets while exploring newer markets and channels. At Reliance, social responsibility and care for the environment is an integral part of our economic success."