RIL profits rise by 62% to Rs 2,292 cr

03-May-05

Riding on high refining margins, Reliance Industries has posted a 62% increase in net profit to Rs 2,292 crore for the quarter ended March 31, 2005, with a 30% rise in turnover to Rs 19,840 crores. Margins from the petrochemical business saw a marginal decline to 9.7% during the period. Segmental profits in the petrochemical business was Rs 984 crore compared to Rs 898 crore in January-March '04. Domestic demand for polymer products rose by 3% during the year, Production volumes of polymers including polypropylene, polyethylene and poly vinyl chloride, increased by 3% to 1921,000 tons. RIL's production volumes of PFY, PSF and PET increased 12% to 1,036,000 tons. A 24% increase in selling prices and 6% rise in sales volumes, helped the company to report a 47% increase in net profit at Rs 7,572 crore for the year ended March 31, '05. Turnover rose by 30% to Rs 73,164 crores. Exports rose by 71% to Rs 25,532 crores.