Reliance announces Q1FY08 results

Reliance Industries Limited (RIL) reported its financial performance for quarter ended June 30, 2007.

Highlights of the un-audited financial results as compared to the previous period are:

* Turnover increases by 12.7% to Rs. 29,493 crore (US$ 7.25 billion).

* Cash Profit increases by 23.7% to Rs. 4,527 crore (US$ 1.11 billion)

* Net Profit increases by 28.2% to Rs. 3,264 crore (US$ 0.80 billion) "� the highest ever by any private sector company in India.

* Gross Refining Margin of US$ 15.4 / bbl "� the highest ever since inception.

Commenting on the results, Mukesh D. Ambani, CMD, Reliance Industries Limited said: "I am delighted to report yet another quarter of outstanding performance by RIL. Our world class manufacturing facilities have demonstrated a high operating leverage by delivering superior margins and record profits. We continue to make rapid strides in our new initiatives including Oil & Gas, Organized Retailing and the new refinery at RPL. While our existing businesses continue to deliver a robust operating performance, our new initiatives provide us a platform to deliver superior shareholder returns in the future."

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