India's second biggest Company - RIL by market capitalization posted Revenues which were down by 4.6 percent to ` 90,589 crore on back of lower output from RIL's flagship KG-D6 gas fields and lower volume at the world's largest refining complex, which operated at 110 % capacity. GRM was at US$8.4 bbl versus US$8.5 in the previous quarter. Street had predicted profit to go up by 17-20% given the low base last year. Petrochemicals (petchem) earnings reduced due to the lack of improvement in oil and gas sector. As a result, we are slightly bearish on petchem segment. The management is optimistic about the petrochemicals business, where it is expanding capacity as it is investing heavily in the petchem business. RIL's new capacities are expected to start operations slowly and steadily from possibly H2FY14 onwards....