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Reliance Industries Q1 FY'13 profits surge 18.9%
22
Jul '13
Reliance Industries Limited (RIL)  reported its financial performance for the quarter ended 30th June, 2013.

HIGHLIGHTS OF QUARTER’S PERFORMANCE:

- Revenue (turnover) decreased by 4.6% to ` 90,589 crore ($ 15.3 billion)
- Exports increased by 3.2% to ` 57,026 crore ($ 9.6 billion)
- PBDIT increased by 10.3% to ` 9,610 crore ($ 1.6 billion)
- Profit Before Tax increased by 21.8% to ` 6,662 crore ($ 1.1 billion)
- Cash Profit increased by 8.3% to ` 7,409 crore ($ 1.2 billion)
- Net Profit increased by 18.9% to ` 5,352 crore ($ 0.9 billion)
- Gross Refining Margin at $ 8.4 /bbl for the quarter ended 30th June 201311)

CORPORATE HIGHLIGHTS

- RIL and its partners BP and NIKO announced a significant gas and condensate discovery in the KG D6 block off the eastern coast of India. The KGD6-MJ1 well was drilled in a water depth of 1,024 metres - and to a total depth of 4,509 metres - to explore the prospectivity of a Mesozoic Synrift Clastic reservoir lying over 2,000 metres below the already producing reservoirs in the D1- D3 gas fields.

The discovery, named ‘D-55’, has been notified to the Government of India (GoI) and the Management Committee of the block. This discovery is expected to add to the hydrocarbon resources in the KG D6 block. Appraisal will now commence to better define the scale and quality of the field.

- In April 2013, Reliance Jio Infocomm Limited and Bharti Airtel Limited signed an Indefeasible Right to Use (IRU) Agreement, under which Bharti will provide Reliance Jio data capacity on its i2i submarine cable. Reliance Jio will utilize a dedicated fiber pair on i2i.

The high speed link will enable Reliance Jio to extend its network and service reach to customers across Asia Pacific region. It will connect Reliance Jio directly to the world’s major business hubs and ISPs, thereby, helping the operator to meet the bandwidth demand and provide ultra-fast data experience to its customers.

- In April 2013, Telekom Malaysia Berhad (TM) (Malaysia), Vodafone Group (UK), Omantel (Oman), Etisalat (UAE), Reliance Jio Infocomm Limited (India) and Dialog Axiata (Sri Lanka) – signed the Construction and Maintenance Agreement (C&MA) and the Supply Contract for “Bay Of Bengal Gateway” Cable System (BBG) in Kuala Lumpur.

The construction of BBG is planned not only to provide connectivity between South East Asia, South Asia and the Middle East, but also to Europe, Africa and to the Far East Asia through interconnections with other existing and newly built cable systems landing in India, the Middle East and the Far East Asia. BBG will also serve as an extraordinary opportunity for business growth as it will help support current and future high capacity requirements from the surrounding areas of the region as well as next generation Internet applications.

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Reliance Industries Limited

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