Mumbai: Investors have their hawk eyes on Reliance Industries Ltd’s (RIL) debt, especially so after the company has guided to bring its consolidated net debt to zero in eighteen months. Ltd. “Strong standalone cashflow helped by a release in working capital from high contract liabilities left consolidated net liabilities ₹1,600 crore lower quarter-on-quarter on a like-for-like basis to US$36.1 billion," point out Jefferies in a report on 20 October. RIL’s Q2FY20 press statement said, its capex for the quarter ending September was ₹19,075 crore (or $2.7 billion). Separately, RIL’s September quarter performance doesn’t disappoint with its consumer businesses, retail and telecom, firing strongly, boosting overall earnings. Consumer business contribution in overall consolidated Ebitda stood at 33% for the September quarter, up from 23% in the same period last year.

Source: Mint October 21, 2019 07:18 UTC