Reliance Industries Limited (RIL) reported its financial performance for quarter ended June 30, 2007. Highlights of the un-audited financial results as compared to the previous period are:Commenting on the results, Mukesh D. Ambani, CMD, Reliance Industries Limited said: “I am delighted to report yet another quarter of outstanding performance by RIL. Our world class manufacturing facilities have demonstrated a high operating leverage by delivering superior margins and record profits."
"We continue to make rapid strides in our new initiatives including Oil & Gas, Organized Retailing and the new refinery at RPL. While our existing businesses continue to deliver a robust operating performance, our new initiatives provide us a platform to deliver superior shareholder returns in the future.”
PERFORMANCE REVIEW AND ANALYSIS: During the quarter, the refinery processed 8.01 million tonnes, an increase of 7%, reflecting an operating rate of 97%.Petrochemicals production (including toll conversions) grew by 15% to 3.65 million tonnes, against 3.16 million tonnes for the corresponding period of the previous year.
Oil production from the PMT blocks increased by 25% to 148,617 tonnes and gas production was up by 23% to 317 MMSCM. Turnover for the period ended 30th June 2007 stood at Rs. 29,493 crore (US$ 7.25 billion), reflecting a growth of 13% over the corresponding period of the previous year.
Increase in revenue was due to 3% increase in prices and 10% growth in volume. During the period under review, aggregate exports were higher by 30% at Rs. 17,263 crore (US$ 4.24 billion).
marketing@alchempro.com
