23 April 2009 14:17 [Source: ICIS news]
RIL’s petrochemicals and refining operations both saw profitability drop in the year ended 31 March, the company said. An exceptional charge of Rs3.7bn as provision “towards estimated claims on its subsidiaries” also dented profit. RIL did not elaborate on this provision.
A more than two-fold growth in investment-related income and a 48.1% increase in the operating profit of its oil and gas business slowed the decline, RIL said.
Gross sales rose by 8.3% to Rs1,507.71bn from Rs1,392.69bn. Operating profit rose by 5.1% to Rs254.28bn from Rs242.01bn.
($1 = Rs50.37)
For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.
Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.
|ICIS news FREE TRIAL|
|Get access to breaking chemical news as it happens.|
|ICIS Global Petrochemical Index (IPEX)|
|ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index|