Home / Knowledge / News / Textiles / RIL petrochemicals' revenue grows 47.6% in Q3 FY18
RIL petrochemicals' revenue grows 47.6% in Q3 FY18
20
Jan '18
RIL petrochemicals
The revenue from the petrochemicals segment at Reliance Industries Limited (RIL) increased by 47.6 per cent year-on-year to Rs 33,726 crore ($5.3 billion) in third quarter of fiscal 2017-18, due to higher volumes and prices. The volume growth was led by the world’s largest ROGC coming on-stream along with downstream LDPE, LLDPE and MEG plants.

Petrochemicals segment EBIT was at a record level of Rs 5,753 crore ($901 million) supported by strong volume growth, higher margins for polypropylene and downstream polyester products.

In its polyester chain segment, RIL’s margins further increased on quarter-on-quarter basis during the quarter ending December 31, 2017, and were above 5 year average. PX prices were up 8 per cent q-o-q, tracking higher crude prices. However, PX-Naphtha delta was lower ($312/MT, down 9 per cent q-o-q) as delay in start-ups of new PTA capacities impacted PX demand.

“PTA markets remained healthy amidst consistent downstream demand and tight supplies. Planned turnarounds at major capacities and unexpected delay in restart of idled units aided fundamentals. Consequently, PTA prices rose 6 per cent Q-o-Q,” RIL said in a press release.

MEG prices firmed due to robust demand and tight supplies and speculative sentiments, while polyester demand remained unchanged as producers maintained high plant utilisation rates amidst low inventory. Operating rates of polyester fibre and yarn plants in China improved and were in range of 89-95 per cent.

Polyester filament yarn (PFY) prices rose 5 per cent q-o-q and delta firmed up by 6 per cent to $313/MT, during October-December 2017.

During Q3 FY18, domestic polyester demand gradually stabilised post implementation of GST. Government of India’s initiative to reduce GST rate for PFY and spun yarn to 12 per cent bolstered the market sentiments complimenting the demand growth. Filament markets geared up their operations amidst improved demand for winter wear (demand up by 7 per cent q-o-q).

MEG capacity at Jamnagar achieved design throughput. Fibre intermediate production during Q3 FY18 increased by 35 per cent year-on-year to 2.3 MMT while polyester production rose 5 per cent y-o-y to 0.62 MMT.

Commenting on the results, Mukesh Ambani, chairman and managing director, RIL said, “I am happy to share record-setting consolidated quarterly earnings to mark the 40th anniversary of Reliance’s listing in January 1978. Fittingly, this quarter marks the culmination of our petrochemical expansion projects.” (RKS)

Fibre2Fashion News Desk – India


Must ReadView All

Global economic upswing became broader & stronger: IMF

Textiles | On 19th Apr 2018

Global economic upswing became broader & stronger: IMF

The global economic upswing that began around mid-2016 has become...

Courtesy: ITMA

Textiles | On 19th Apr 2018

ITMA 2019 expanding space due to overwhelming response

Due to overwhelming response, the exhibition space has been increased ...

BIDA’s Europe trip to showcase a different Bangladesh

Apparel/Garments | On 19th Apr 2018

BIDA’s Europe trip to showcase a different Bangladesh

The Bangladesh Investment Development Authority (BIDA) is taking a...

Interviews View All

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Top executives
Textile industry

GST has levelled the playing field to an extent

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Nitesh Mittal

Kusumgar Corporates is a leading manufacturer of technical textiles and...

Abhishek Pachauri

Reckon Industries adapts latest systems for manufacturing from designing...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Adriano Goldschmied
AG Jeans

The hype around 'designer jeans' was created by him. And the new wave of...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search