Reliance Industries net profit rises 28 percent to Rs.5,136 crore

    By IANS,

    Mumbai : India’s largest private company, Reliance Industries Friday reported a 28.14 percent rise in net profit at Rs.5,136 crore for the quarter ending Dec 31, compared to Rs.4,008 crore in the previous corresponding quarter.

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    The turnover of the Mukesh Ambani-led energy behemoth rose to Rs.62,399 crore during the quarter under review, compared to Rs.58,848 crore in the same period of last fiscal.

    The company also benefited from the rise in crude oil prices during the October-December quarter, helping Reliance Industries’ refining business to increase its turnover by 9.42 percent to Rs.52,524 crore.

    The gross refining margin stood at $9 per barrel for the October-December quarter, as compared to $5.9 per barrel in the year-ago period.

    Earnings from the petrochemicals business too rose by 8.17 percent to Rs.15,962 crore, while the oil and gas segment’s revenues grew 18.35 percent to Rs.4,178 crore.

    Net profit for the nine months of the current fiscal rose 29.35 percent to Rs.14,910 crore, compared to Rs.11,526 crore in the like period of previous fiscal.

    The company’s turnover during the April-December period stood at Rs.183,368 crore as against Rs.140,133 crore in the like period of previous fiscal.

    The results were announced after the stock markets closed. The Reliance Industries scrip closed Friday 1.73 percent at Rs.986.50 on the Bombay Stock Exchange.