RIL to re-open all 1400 petrol pumps in a year.

Mukesh Ambani led Reliance Industries (RIL) will commission all of its 1400 fuel retail outlets in a year's time and plans to replicate the success of 2006 in the fuel retail segment by mopping up a market share of 14.3 per cent in high speed diesel and 7.2 per cent in petrol.

RIL, has re-opened 230 outlets since the diesel de-regulation on October 18,2014. It has 1,400 fuel retail outlets across the country. At present, RIL's fuel retail market share is less than 0.5 per cent.

In its presentation to analysts post its third quarter results last week, RIL said 'It is launching aggressive consumer schemes for quick ramp up of volumes and targeting to replicate 2006 performance levels.' RIL posted a drop of 4.5 per cent in consolidated net profit at Rs. 5,256 crore for the quarter ended December 2014.


BS