Reliance Industries' fiscal Q3 petchems EBIT up 18.2% at Rs24.29bn

21 January 2011 13:01  [Source: ICIS news]

LONDON (ICIS)--Reliance Industries' fiscal third-quarter petrochemicals profits before interest and tax (EBIT) rose 18.2% to India rupees (Rs) 24.29bn ($531.7m), it said on Friday.

The giant oil to petrochemicals group reported a third quarter net profit up 28.1% at Rs51.36bn driven higher also by a much improved year-on-year refining result of Rs24.36n, up 76.6%.

Reliance’s petrochemicals sales were up 8.2% year on year for the quarter at Rs159.62bn, the company noted in a posting to the Mumbai stock exchange. Refining segment turnover was up 9.4% at Rs525.24bn.

It's petrochemicals segment profits for the first nine months of its financial year, which ended on 31 December 2010, were 5.0% higher at Rs6.68bn. Refining profits for the first nine months were up 65.5% at Rs6.66bn.

Reliance reported a net profit for the same period up 29.4% at Rs149.10bn.

It reported in October 2010 a second quarter petrochemicals EBIT of Rs22bn.

($1 = Rs45.68)

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By: Nigel Davis
+44 20 8652 3214

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