RIL profit flat, misses estimates as oil & gas segment faces output and price pressures

Mukesh Ambani's Reliance Industries missed quarterly profit estimates on Friday, hurt by higher expenses and weak performance at its oil and gas segment.

- 

The unit’s performance was hit by weaker output and softer price realisations from its KG-D6 fields in Andhra Pradesh, a key source of domestic gas supply. The flagship deep-water block in the Krishna-Godavari basin, developed with BP, once met a significant share of India’s gas demand but has seen production decline over the years as reservoirs matured and pressures fell. Third-quarter average realised prices for KGD6 gas edged down from a year earlier, whi