Q4 FY16 revenue up 8% at RIL's petrochemicals div

The petrochemicals segment at RIL includes production and marketing operations of petrochemical products namely high density polyethylene, low density polyethylene, linear low density polyethylene, polypropylene, polyvinyl chloride, polyester yarn, polyester fibres, purified terephthalic acid, paraxylene, ethylene glycol, olefins, aromatics, linear alkyl benzene, butadiene, acrylonitrile, poly butadiene rubber, caustic soda and polyethylene terephthalate.

Total petrochemicals production reported for the fourth quarter was 6.3 MMT as compared to a production of 6.4 MMT in Q3 of FY16, a fall of 1.5 per cent. However, the production reported for the fourth quarter of fiscal 2015 was 5.6 MMT, a rise of 12.5 per cent as compared to Q4 of FY16.

EBIT for Q4 of fiscal 2016 was Rs 2,713 crore at RIL’s petrochemicals division, a rise of 2.8 per cent as compared to Rs 2,639 crore in the previous quarter of FY16.

Commenting on the results, Mukesh Ambani, chairman and managing director of RIL said, “Our balanced petrochemical portfolio, across products and feedstocks, helped capture the benefit of vastly improved naphtha cracking economics and favourable polymer markets.”

“FY 2015-16 has been a year of outstanding achievement,” he added.

The consolidated turnover reported by the company in the fourth quarter of FY16 was Rs 64,569 crore as compared to Rs 73,341 crore in the previous quarter, a fall of 12 per cent.

Net profit for Q4 was Rs 7,398 crore as compared to Rs 7,290 crore in the previous quarter, a rise of 1.45 per cent. (MCJ)

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