India's economy is growing triggering a healthy growth in demand for fuel and petrochemicals. This has reflected in the financial performance of Reliance Industries Ltd. RIL has posted its ninth straight quarter of record profit. In the 3 months ended June, net income rose 61% to Rs 23.10 bln (US$532 million), from a year ago, sales rose 25% to Rs 177.84 bln.
Overseas investors increased their holdings in Reliance to 442.7 million shares, or 31.77% of the company in the three months ended June from 418 million shares, or 29.94% in the three months ended December. Reliance's 660,000 bpd Jamnagar refinery which brought in 69% of revenue, operated at 96% capacity and processed 7.92 million tons of crude oil in the quarter.
29-Jul-05 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}