India : RIL polyester intermediates production goes up

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RIL polyester intermediates production goes up

17
Jan '08

Reliance Industries Limited (RIL) reported its financial performance for the nine months period ended 31st December, 2007.

Highlights of the un-audited financial results as compared to the previous period are:
• Turnover increases by 13% to Rs. 100,572 crore (US$ 25.5 billion).
• Cash Profit increases by 51% to Rs. 19,714 crore (US$ 5.0 billion)
• Net Profit (including exceptional item) increases by 77% to Rs. 15,546 crore (US$ 4.0 billion)
• Exceptional income of Rs. 4,733 crore (US$ 1.2 billion)
• Net Profit (excluding exceptional item) increases by 29% to Rs. 11,349 crore (US$ 2.9 billion)
• Gross Refining Margin for 3Q FY 07-08 was at US$ 15.4 / bbl and for 9M FY 07-08 was US$ 14.9 / bbl

Other Highlights:
• Reliance was awarded the “Deming Quality Control Award” for Operations Business Unit (2007) making it the World's first petrochemical company to win this award
• Reliance's Jamnagar refinery adjudged winner of “Golden Peacock National Training Award
2007”
• Reliance's Hazira Manufacturing division adjudged winner of “Golden Peacock Innovation
Award 2007”
• Reliance expanded its International footprint in Exploration and Production -
- Executed two Production Sharing Contracts (PSC) in Kurdistan
- Signed Production Sharing Agreement (PSA) for an offshore block in Oman
- Signed two Production Sharing Agreements in Yemen
- Signed Hydrocarbon Production and Exploitation Contracts for two offshore blocks in Columbia

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