OREANDA-NEWS. Reliance Industries Limited (RIL) today reported its financial performance for the quarter / half yearended 30th September, 2014. Highlights of the un-audited financial results as compared to the previous year are:

In August 2014, Reliance Haryana SEZ Limited (RHSL) has returned 1383.68 acres of land in Gurgaon acquired from HSIIDC for setting up SEZs due to revision of strategic priorities. RHSL is a joint venture between Reliance Ventures Limited (RVL), RIL's wholly-owned subsidiary, and Government of Haryana through HSIIDC. The JV was established for development of SEZs / Model Economic Township (MET) project and other infrastructure facilities in Haryana. HSIIDC has also exited the JV and the project.

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 September 2014, Reliance Jio Infocomm Limited ("RJIL"), a subsidiary of RIL has signed a USD 750 Million loan backed by Korea Exim Bank on 24 September 2014. The loan is guaranteed by RIL and will be primarily used to finance goods and services procured from Samsung Electronics for the infrastructure rollout of RJIL.

In September 2014, RJIL, a subsidiary of RIL, and GTL Infrastructure Limited ("GTL Infra"), a Global Group enterprise, announced the signing of a Master Services Agreement (MSA) for tower infrastructure sharing. In addition, in September 2014, RJIL and Indus Towers, the world's largest and India's leading provider of telecom tower infrastructure, announced the signing of a Master Services Agreement (MSA) for tower infrastructure sharing. Under the agreement, Reliance Jio would utilize the telecom tower infrastructure services being provided by Indus Towers to launch its services across the country.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "RIL's financial performance for the period stands testimony to the intrinsic strength of our integrated business operations. The refining and petrochemical businesses, once again, delivered robust results, outperforming regional industry benchmarks. Renewed optimism in the domestic economy augurs well for business and consumer confidence particularly against the backdrop of continuing concerns on global economic growth. We expect to create significant value for our stakeholders over the next 12-18 months as we complete ourlarge investment programme across energy and consumer businesses. These projects will propel the next phase of growth for India and Reliance."