RIL delivers record financial & operating performance in challenging conditions
21 Apr '08
3 min read
Reliance Industries Limited (RIL) reported its financial performance for the year ended 31st March, 2008.
Highlights of the audited financial results as compared to the previous period are: • Turnover increased by 18% to Rs. 139,269 crore (US$ 34.7 billion) • EBITDA increased by 18% to Rs. 24,201 crore (US$ 6 billion) • Cash Profit increased by 43% to Rs. 25,205 crore (US$ 6.3 billion) • Net Profit (including exceptional income) increased by 63% to Rs. 19,458 crore(US$ 4.9 billion) • Exceptional income of Rs. 4,733 crore (US$ 1.2 billion) • Net Profit (excluding exceptional income) increased by 28% to Rs. 15,261 crore(US$ 3.8 billion) • Dividend of 130%; payout of Rs. 1,860 crore (US$ 464 million) • Gross Refining Margin at US$ 15.0 / bbl for the fiscal year 2007-08
Other Highlights: • This was yet another successful year for RIL's Oil and Gas Exploration & Production business. Reliance made nine new discoveries in its offshore E&P blocks. • Reliance expanded its International footprint in
Exploration and Production: • Executed two Production Sharing Contracts (PSC) in Kurdistan • Signed Production Sharing Agreement (PSA) for an offshore block in Oman • Signed two Production Sharing Agreements in Yemen • Signed Contracts for two offshore blocks in Columbia • RIL's Jamnagar unit was converted into an Export Oriented Unit (EOU) with effect from 16th April 2007.
• Reliance PetroleumLimited (“RPL”) achieved 90% overall progress in implementation of its complex refinery, coming up in a Special Economic Zone at Jamnagar. RPL has mobilised
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