Demand-supply imbalances, weakness in transportation fuel cracks impacted O2C segment: Mukesh Ambani
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Reliance’s profit edged up by 2% year-on-year, although its oil-to-chemicals segment faced challenges due to weak transportation fuel cracks and downstream chemical market imbalances, resulting in multi-year low margins. The oil and gas business achieved record EBITDA, driven by increased production from KGD6 and CBM blocks, despite a slight revenue decrease due to lower gas production.