Reliance Industries Ltd.

Reliance Industries is likely to capitulate about 56% of low prospectivity area in its eastern offshore KG-D6 block. It will be holding back 3,412 square kilometers of area out of a total of 7,645 sq km in KG-D6 block, where oil and gas discoveries have been made. The area it will retain contains 18 gas and one oil discoveries including the currently producing Dhirubhai-1 and 3 (D1&D3) gas and MA oil and gas fields.

The company has posted a rise of 31.94% in its net profit at Rs 5,589 crore for the quarter ended March 31, 2013 as compared to Rs 4,236 crore for the same quarter in the previous year. However, total income of the company has decreased marginally by 1.18% at Rs 86,441 crore for quarter under review as compared to Rs 87,477 crore for the quarter ended March 31, 2012.