India's Reliance posts 27% hike in '04-'05 petchem revenue

27 April 2005 11:27  [Source: ICIS news]

SINGAPORE (CNI)--India’s biggest private sector company Reliance Industries Ltd (RIL) posted a 27% year-on-year increase in its petrochemical revenue to Rs297.5bn ($6.8bn/Euro5.3bn) for the fiscal year ending 31 March 2005, the company announced on Wednesday.

 

This was attributed to a 1.3% increase in domestic demand for petroleum products to 4.8% from the previous fiscal year, increased productivity and higher selling prices.

 

RIL produced 1.04m tonne of polyester filament yarn (PFY), polyester staple fibre (PSF) and polyethylene terephthalate (PET) in the year ending 31 March 2005, an increase of 12% from the previous year.

 

The company’s production of paraxylene (PX), purified terephthalic acid (PTA) and monoethylene glycol (MEG) rose 4% to 3.15m tonne while its production of polypropylene (PP), polyethylene (PE) and polyvinyl chloride (PVC) increased 3% to 1.92m tonne from a year ago.

 

RIL’s total oil, gas and petrochemical production rose 3% to 12.7m tonne. The company’s total exports were put at Rs255.3bn, up 71% from the previous year.

 

The company’s operating profit rose 28% to Rs142.6bn. Its net profit rose 47% to Rs75.7bn and its net turnover for the year rose 30% to Rs737.1bn from the previous year. 

By: Caroline Sin
+65 6780 4359

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