Reliance Infrastructure net up 25 percent

September 28th, 2009 MUMBAI - The Anil Ambani group has called the marketing margin for the gas produced by Reliance Industries from the Krishna-Godavari basin illegal and asked the oil ministry to prevent the company from suspending supplies as threatened. In a letter to Petroleum Secretary R.S.

September 22nd, 2009 MUMBAI - Telecommunications provider Reliance Infratel, promoted by Reliance Communications and part of the R-ADA group, will come out with an initial public offer to the tune of 10 percent of its paid-up equity capital, group chairman Anil Ambani said here Tuesday. Addressing shareholders at Reliance Communication's annual general meeting here, Ambani said the draft red herring prospectus for the issue would be filed by group company Reliance Power with market regulator Securities and Exchange Board of India.

August 31st, 2009 NEW DELHI - Telecom majors Reliance Communications (RCom) and Aircel are on the verge of signing a $300-million agreement for sharing telecom infrastructure like towers, sources close to the deal said Monday. "The deal will offer RCom a revenue upside of over Rs.1,500 crore.

July 31st, 2009 MUMBAI - Reliance Communications (R-Com), part of the Anil Dhirubhai Ambani Group, has posted a net profit of Rs.1,637 crore ($342 million) for the quarter ended June 30 as against Rs.1,512 crore in the like period last year, a growth of 8.3 percent. The company's total income surged 15.5 percent to Rs.6,145 crore from Rs.5,322 crore, it said in a regulatory statement.

July 22nd, 2009 NEW DELHI - Etisalat DB, a joint venture between Dubai-based telecom major Etisalat and Mumbai's Dynamix Balwas group (DB), and the Anil Ambani-promoted telephony operator Reliance Communications (RCom), have entered into an agreement to share infrastructure for 10 years, a RCom statement said Wednesday. The agreement, which will enable Etisalat DB to share tower and transmission infrastructure owned by RCom and sister company Reliance Infratel, is expected to increase RCom's revenues by Rs.10,000 crore ($2.2 billion), the company said in the statement.

July 9th, 2009 MUMBAI - Telecom major Idea Cellular has received shareholders' approval to hive off its tower business into a subsidiary company Idea cellular Towers Infrastructure, the company said Thursday. Its rivals Airtel and Reliance Communications had earlier demerged their passive infrastructure - towers and base stations - business to save costs.

June 29th, 2009 MUMBAI - Reliance Globalcom, part of the Anil Ambani-owned Reliance Communications, Monday said its revenues for the quarter ended March 31, 2009 increased 23 percent to Rs.1,880.3 crore ($391 million). The company had posted Rs.1,525.7 crore in revenue during the January-March quarter last year.

May 25th, 2009 MUMBAI - Three companies in the Reliance Anil Dhirubhai Ambani Group were among the five top-performing stocks of the S&P CNX Nifty of the National Stock Exchange (NSE) last week, all of them outshining the 50-share index by a wide margin. With a gain of 52.7 percent, Reliance Capital was the best performer among the Nifty stocks.

May 24th, 2009 NEW DELHI - The board of Reliance Infrastructure, promoted by the Anil Ambani group, Sunday approved issuing up to 43 million preferential shares to its founders and other investors to raise about Rs.4,300 crore ($913 million). In a statement, the company said the equity capital would enhance its net worth to over Rs.16,000 crore and augment its borrowing capabilities to Rs.32,000 crore at a debt-equity ratio of 2:1.

April 23rd, 2009 MUMBAI - The Anil Ambani-led Reliance Infrastructure Thursday said its standalone net profit rose 5 percent to Rs.1,138.88 crore in 2008-09 from Rs.1,084.63 crore the year before. The power distribution company, also involved in generation, transmission and trading of electricity besides constructing power plants, saw a 51.5 percent rise in its consolidated income at Rs.12,844.67 crore last fiscal as against Rs.8,480.31 crore the previous year.

April 23rd, 2009 MUMBAI - Reliance Natural Resources Ltd (RNRL), part of the Reliance-Anil Dhirubhai Ambani Group (R-ADAG), Thursday reported 1.8 percent growth in its net profit for 2008-09. The company, involved in sourcing, supply and transportation of gas, coal and liquid fuels, posted a net profit of Rs.69.87 crore ($14 billion) for 2008-09, up from Rs.65.59 crore the previous fiscal.

February 28th, 2009 MUMBAI - The $34.5-billion Reliance Industries, India's largest private sector company, Friday announced that it will consider a proposal next week to merge another group company into itself to bring in operational efficiency. The Mukesh Ambani-controlled Reliance Industries and its oil refining and export-oriented subsidiary Reliance Petroleum, have both informed the stock exchanges of their boards' agenda to consider the merger.

January 22nd, 2009 MUMBAI - Reliance Natural Resources Ltd (RNRL), part of the Reliance-Anil Dhirubhai Ambani Group, Friday reported 238 percent growth in total income at Rs.1.38 billion (Rs.138 crore/$28.3 million) for the quarter ended Dec 31 as against Rs.407 million a year ago. The company's net profit increased 2 percent to Rs.240 million for the quarter, compared to Rs.237 million in the corresponding period last year.

January 6th, 2009 HYDERABAD - Reliance Digital, the consumer electronics arm of Reliance Retail, will sell Reva electric cars through its outlets across the country. Initially, Reliance Digital will sell the Reva through its digital stores in Hyderabad and Delhi.

December 23rd, 2008 NEW DELHI - Reliance Infrastructure, an Anil Dhirubhai Ambani Group (ADAG) company, is a sole bidder for a Rs.26.76-billion (Rs.2,676-crore) greenfield expressway project in the national capital region, the company said Wednesday. 'The company emerged as the sole bidder for 135 kilometres greenfield Eastern Peripheral Expressway project, covering Haryana, Delhi and Uttar Pradesh on build, operate and transfer (BOT) basis, in spite of two extensions from NHAI (National Highway Authority of India),' it said in a statement.