RIL Q3 net up 52 per cent

RIL Q3 net up 52 per cent

Friday, January 21, 2005 (Mumbai):

Reliance Industries Limited surpassed market expectations today as it declared a third quarter net profit of Rs 2091 crore.

The company's net profit increased 52 per cent on a year-on-year basis, while the Q3 sales were up 42 per cent (YoY) to Rs 18099 crore.

The RIL turnover in the first nine months December 2004 stood at Rs 63,585 crore, and the net profit during the same period was Rs 5280 crore.

Other prominent numbers announced by the company are as follows:

Q3 refining margins at $8.2

Nine-month EPS Rs.37.8

Exports up 51% to Rs 16205 crore

Operating profit up 30% to Rs 10239 crore

Cash Profit up 32% to Rs 8622 crore

The company also reported that its refinery operated at 96 per cent capacity utilization, adding that the profits had been boosted by higher prices for fuels and chemicals.

The numbers were declared at a board meeting of the flagship company, chaired by Mukesh Ambani. The meeting was also attended by Anil Ambani.

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