RIL reports $1.1 billion net profits in Q1 announces results via simulcast integrated live feed on Facebook, YouTube & Twitter
Reliance Industries Ltd (RIL) reported $1.1 billion (Rs 7113 crores) of net profits in the first quarter of 2016-17. The company for the third time chose the social media platforms over traditional mediums to broadcast its results to communicate to its audience
Reliance Industries Limited (RIL) reported its financial performance for the quarter ended 30th June 2016 in a unique manner. The quarter results were simulcast via an integrated LIVE feed on Facebook, YouTube and Periscope, the world's largest social platforms.
The Facebook page, Twitter feed are called @FlameOfTruth and its YouTube landing, @flameoftruth2014. The net profits of Q1 (FY 2016-17) shot up by 2.6% to $1.1 billion (Rs 7113 crores) with respect to the previous quarter. Revenue (turnover) decreased by 13.4% to $10.6 billion (Rs71,451 crore).
Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said, “At Reliance, we continued to harness the power of our integrated energy and materials business portfolio. We maintained our earnings growth trajectory during this quarter, as the world grappled with new dimensions of economic uncertainty. Though regional refining margins trended downwards, our high-conversion refining system was able to take advantage of higher margins on middle distillates and wider discounts on sour crude oils. Our refining business delivered another record performance and achieved industry leading GRM. Our petrochemicals business has a wide product portfolio, superior feedstock linkages and serves high-growth end-markets in India. As a result, we achieved yet another quarter of margin expansion in petrochemicals business and delivered EBIT growth of more than 20.5% Y-o-Y.”
He added, “Our major investments in new projects at Jamnagar will enhance our unparalleled feedstock linkage and increase integration synergies. At Reliance Jio, we have built an entire ecosystem that will allow Indians to live the digital life to the fullest. This transformational ecosystem consists of broadband connectivity, devices and powerful applications and services which will be available to every consumer in India.”
Reliance Industries (RIL) first took to Facebook to announce its results live for the third quarter of the financial year, a first by any company to leverage Facebook to reach its audience to disseminate its results in a seamless manner. This happened after only month of the social media giant allowing live streaming of commercial events. It was among the first such live posts in India.
In the live video, RIL’s CFO Alok Agarwal announced a detailed comparative analysis of company’s financial and operational performance with a breakdown of every sector with last quarter.
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This is indicative of the fact the RIL is not leaving any stone unturned to communicate with its audience and has tapped on almost every influential and impactful platform in social media.
WhatsApp, Instagram, LinkedIn, Twitter, Facebook & Youtube