The biggest private sector company in India – Reliance Industries Ltd (RIL) released results for third quarter ending December 31, 2012 and for nine months from April 2012 to December 2012.
HIGHLIGHTS OF NINE MONTH’S PERFORMANCE
• Revenue (turnover) increased by 12.9% to Rs. 284,500 crore ($ 51.7 billion)
• Exports increased by 14.6% to Rs. 179,581 crore ($ 32.7billion)
• PBDIT at Rs. 28,717 crore ($ 5.2billion)
• Profit Before Tax at Rs. 19,164 crore ($ 3.5 billion)
• Cash Profit at Rs. 22,561 crore ($ 4.1billion)
• Net Profit at Rs. 15,414 crore ($ 2.8 billion)
• Gross Refining Margin at $9.0/bbl for the nine month ended 31stDecember 2012
HIGHLIGHTS OF QUARTER’S PERFORMANCE- 3Q FY13 V 2Q FY13
• Revenue (turnover) increased by 3.3% to Rs. 96,307 crore ($ 17.5 billion)
• Exports increased by 16.6% to Rs. 66,915 crore ($12.2 billion)
• PBDIT increased by 2.3% to Rs. 10,113 crore ($ 1.8 billion)
• Profit Before Tax increased by 0.1% to Rs. 6,850 crore ($ 1.2 billion)
• Cash Profit increased by 2.0% to Rs. 7,938 crore ($ 1.4 billion)
• Net Profit increased by 1.7% to Rs. 5,502 crore ($1.0 billion)
• Gross Refining Margin at $9.6/bbl
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “RIL’s performance has improved in this quarter with margin expansion in petrochemicals and record earnings in the refining business. We are investing over Rs 100,000 crore by expanding our petrochemical capacities and adding value to our refining business. These investments will secure a significant change in RIL’s earning capacity on commissioning of these projects. It will also provide employment opportunity for thousands of young Indians and support India’s economic growth”.