RIL Q3 net profit grow by 57.6%

19-Jan-07

Reliance Industries (RIL) has announced a 57.6% growth in net profit for the third quarter in this financial year, led by 48% growth in petrochemicals and 37% growth in refining businesses. Gross refining margin at US$11.7 a barrel was nearly three times the regional Singapore benchmark. Net profit for the quarter was Rs 2,799 crore compared with Rs 1,776 crore in the previous corresponding period. Total income grew 44.5% to Rs 26,514 crore over the same period last year and operating profit went up 50.5% to Rs 4,751 crore. The petrochemicals business saw growth of 48%, from Rs 7,353 crore in the third quarter last year to Rs 10,895 crore in the same quarter this year.