Home / Knowledge / News / Textiles / RIL petrochemicals' revenue grows 47.6% in Q3 FY18
RIL petrochemicals' revenue grows 47.6% in Q3 FY18
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

Courtesy: Fancycrave.com from Pexels

Apparel/Garments | On 22nd Jun 2018

EU's retaliatory duty on US apparel takes effect

As part of the three-pronged response outlined by the European...

NCC applauds House passage of farm legislation

Textiles | On 22nd Jun 2018

NCC applauds House passage of farm legislation

The National Cotton Council (NCC) of the US has welcomed the passage...

Courtesy: Roman Pohorecki from Pexels

Apparel/Garments | On 22nd Jun 2018

UK launches inquiry on sustainability of fashion industry

The Environmental Audit Committee of the UK Parliament has launched...

Interviews View All

Krishnanand Tripathi
Textrade International Ltd

We believe in vocational education for entry-level employees, offering...

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Akshat Chaudhary

Aizome, Asia's first Fairtrade denim brand, is all set to launch next...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

C Dhandayuthapani

MAG Solvics Private Limited was established in 1991 to design and develop...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Silke Brand-Kirsch
Schlegel und Partner

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

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Vaanee Bhatia
Gritstones Clothing

<div>Delhi-based Gritstones Clothing offers quality and exemplary style...

Amiben Shroff

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

Divvya and Nidhhi Gambhir

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

June 2018

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

news category

Related Categories:

Advanced Search