Healthy margins raise RIL net 26% |
BS Reporter / Mumbai January 18, 2008 |
Healthy refining margins saw India's largest private sector company Reliance Industries (RIL) posting a 26 per cent increase in its net profit for the quarter ended December 2007 over the corresponding previous quarter. | ||||||||||||||||||||
The company earned $15.4 a barrel from processing oil during the quarter compared with $11.7 in the corresponding previous quarter. | ||||||||||||||||||||
However, net profit grew 162 per cent to Rs 8,079 crore over the corresponding previous quarter on the back of a one-time gain of Rs 4,733 crore from the sale of a stake in its subsidiary Reliance Petroleum Ltd (RPL).
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The company gets the bulk of its revenue from crude oil refining and petrochemicals, but also has a presence in retail and textiles. | ||||||||||||||||||||
"I am happy to report that Reliance continues to surpass previous records in financial performance, |