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Exports surge 15% at Reliance Industries in FY'13
17
Apr '13
Reliance Industries Limited (RIL) reported its financial performance for the quarter / year ended 31st March, 2013

RIL achieved a turnover for the year ended 31st March 2013 of ` 371,119 crore ($ 68.4 billion), an increase of 9.2% on a year-on-year (Y-o-Y) basis. The Refining business revenues increased by 11.6%, Petrochemicals by 9.3% while Oil & Gas revenues decreased by 35.2% on account of lower production. Higher prices accounted for 11.0% growth in revenue which was partly offset by the decrease in volumes by 1.8%. Exports were higher by 15.0% at ` 239,226 crore ($ 44.1 billion) as against ` 208,042 crore in FY 2011-12

Higher crude oil prices resulted in consumption of raw materials increasing by 11.4% to ` 306,127 crore ($ 56.4 billion) on a Y-o-Y basis.

Employee costs were at ` 3,354 crore ($ 618 million) for the year ended 31st March 2013 as against ` 2,862 crore in the previous year.

Other expenditure increased by 26.6% from ` 18,040 crore to ` 22,844 crore ($ 4.2 billion) primarily due to higher expenses on account of power & fuel, selling & distribution, sales tax, professional fees and repairs.

Operating profit before other income and depreciation decreased by 8.4% from ` 33,619 crore to ` 30,787 crore ($ 5.7 billion) due to reduction in oil & gas and petrochemicals earnings, partially offset by higher operating profit from refining. Net operating margin was lower at 8.5% as compared to 10.2% on a Y-o-Y basis due to lower production of oil & gas and weaker margins in petrochemicals business.

Other income was higher at ` 7,998 crore ($ 1.5 billion) as against ` 6,192 crore primarily due to an increase in cash flows from operations that were deployed in bank deposits, mutual funds and Government securities / bonds.

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Reliance Industries LImited


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