RIL revenue climbs 8.1% in 2013-14

21 Apr '14

2 min read

Reliance Industries Limited (RIL) reported its financial performance for the quarter/year ended 31st March, 2014.

Highlights of Year Performance

-Revenue (turnover) increased by 8.1% to `401,302 crore ($ 67.0 billion)

-Exports increased by 15.3% to `275,825 crore ($ 46.0 billion)

-PBDIT increased by 2.7% to `39,813 crore ($ 6.6 billion)

-Profit Before Tax increased by 5.8% to `27,818 crore ($ 4.6 billion)

-Cash Profit increased by 1.0% to `30,795 crore ($ 5.1 billion)

-Net Profit increased by 4.7% to `21,984 crore ($ 3.7 billion)

-Gross Refining Margin of $ 8.1/bbl for the year and $ 9.3/bbl for the quarter

-Dividend of 95%, payout of `3,268 crore ($ 545 million)

Financial Performance Review and Analysis

RIL achieved a turnover of `401,302 crore ($ 67.0 billion) for the year ended 31st March 2014, an increase of 8.1%, as compared to `371,119 crore in the previous year. Higher prices accounted for 7.7% growth in revenue while increase in volumes accounted for 0.4% growth in revenue. Exports were higher by 15.3% at `275,825 crore ($ 46.0 billion) as against `239,226 crore in FY 2012-13.

Higher crude oil prices resulted in 7.6% increase in cost of raw materials from ` 306,127 crore to` 329,313 crore ($ 55.0 billion) on Y-o-Y basis.

Revenues and raw material expenses were impacted by 10.4% depreciation of Indian rupee vis- a- vis US$.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said, “FY 2013-14 was a satisfying year for RIL. Refining business delivered the highest ever profits with a sharp recovery in GRMs towards the end of the year. Petrochemical earnings grew sharply with margin expansion across polymers and downstream polyester products.

While we continue to face technical challenges in growing domestic upstream production, the US shale gas business grew significantly during the year and has become a material contributor to our earnings. Retail business has turned around and is now India’s largest retail chain. We have also accelerated efforts to roll-out our state-of-the-art 4G services across the country which will add an exciting new dimension to our consumer facing service offerings.”

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Reliance Industries Limited

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