RIL says PFY, PSF & PET production volumes rise to 19% in Q1
27 Jul '05
11 min read
The Company's refinery operated at 96% capacity utilisation and processed 7.92 million tonnes of crude for the quarter.
Financial Review Operating profit, before other income, was Rs. 3,566 crores (US$ 819 million) against Rs. 2,805 crores for the corresponding previous quarter, an increase of 27%
The company's net operating margin improved during the quarter at 20% despite volatile raw material prices, offset by higher selling prices and efficient cost control measures.
Other income decreased to Rs. 194 crores (US$ 45 million), from Rs. 347 crores on account of the company exercising its option to convert the Preference shares of Reliance Infocomm Ltd with effect from 1st April 2005. This was partially offset by higher interest income from liquid investments and Fixed Deposits.
Interest expenditure decreased 49% to Rs. 237 crores (US$ 54 million) due to appreciation of the rupee and reduction in debt.
Depreciation was at Rs. 791 crores (US$ 182 million) as against Rs. 916 crores for the corresponding previous quarter. The decrease is on account of assets sold during 2004-05 and impact of WDV depreciation on petrochemical assets.
Outflow on account of Capital expenditure was over Rs. 2,100 crores (US$ 483 million), primarily on account of oil and gas exploration, retail outlets and petrochemicals expansion.
Business Review Oil & Gas (E&P) RIL's oil and gas strategy is aimed at further enhancing the level of vertical integration in its energy business, and capturing value across the entire energy chain, while fulfilling important national priorities.
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