It was recently informed by India's largest listed company, Reliance Industries Ltd that the company's quarterly earnings sank by 9.8%, which is its first drop in three years. However, the forecasts have been beaten by the company as refining margin eased less than expected.

It is being hoped by Reliance, which is India's largest petrochemical producer and refiner that the good times for the company will commence in the second half of February when it will start generating 30-40 million cubic metres of natural gas a day from its deep-sea fields off India's east coast.

Other than this, the sales from the newly commissioned 580,000 barrels per day refinery run by subsidiary Reliance Petroleum Ltd will also help the company to gain back its position.

The company reported on Thursday, "RPL expects to despatch its first parcel of refinery products in January."

In the third quarter that ended on 31st December, there was a fall to 35.01 billion rupees ($713 million) in the net profit of Reliance from a restated 38.82 billion rupees excluding one-off gains a year earlier.

Chairman and Managing Director Mukesh Ambani said, "This was one of the most challenging quarters for Reliance, with volatility in prices and margins."

He added, "Producers and consumers are coming to terms with slower global trade and economic outlook."