The Hindu : Business : Reliance net up 30 p.c. at Rs. 1437 crores

Online edition of India's National Newspaper
Wednesday, Jul 28, 2004

Business

Business

Reliance net up 30 p.c. at Rs. 1437 crores

By Our Special Correspondent

MUMBAI, JULY 27. Reliance Industries Ltd. has reported a net profit of Rs. 1,437 crores for the quarter ended June 30, 2004, up 30 per cent, compared to Rs. 1,104 crores for the corresponding period last year. The gross turnover improved by 21 per cent to Rs. 20,763 crores from Rs. 17,166 crores.

The net turnover was at Rs. 15,746 crores against Rs. 13,509 crores, an increase of 17 per cent. The operating profit went up by 27 per cent to Rs. 3,152 crores from Rs. 2,475 crores. The cash profit has risen by 29 per cent to Rs. 2,553 crores from Rs. 1,974 crores. The total paid up equity share capital stood at Rs. 1,396 crores.

The EPS (Earnings Per Share) was Rs. 10.30 and CEPS (cash earnings per share) Rs. 18.30 for the quarter under reference. The annualised EPS was Rs. 41.20 and CEPS Rs. 73.10.

"The improvement in our margins and profitability has been achieved, overcoming the challenge of record high crude oil prices, our major feedstock. Operating conditions in our major businesses, refining and petrochemicals, remain strong and barring unforeseen circumstances, we are looking forward to another year of record-breaking financial performance from Reliance,'' Anil D. Ambani, Vice-Chairman and Managing Director, RIL stated, here, today.

The company's refinery operated at 118 per cent capacity utilisation and processed 7.91 million tonnes of crude oil during the quarter.

Exports including deemed exports of Rs. 5,102 crores as against Rs. 3,466 crores, up 47 per cent.

The increase in sales reflects the impact of increase in product selling prices of 18 per cent and increase in sales volume of 3 per cent as compared to the corresponding previous quarter, RIL stated.

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