Reliance Industries fiscal Q4 petrochemical EBIT up 18%

21 April 2011 15:12  [Source: ICIS news]

LONDON (ICIS)--Reliance Industries’ fiscal fourth-quarter petrochemicals earnings before interest and tax (EBIT) rose by 18% year on year to Indian rupees (Rs) 26.26bn ($593m), it said on Thursday.

Sales in the segment also increased by 18%, to Rs181.94bn, the Indian oil-to-petrochemicals giant said in a statement on the Bombay Stock Exchange.

The company’s refining business was also up for the quarter, with EBIT rising by 26% to Rs25.09bn.

Reliance reported overall fourth-quarter net profit up by 14% to Rs53.76bn, while the group’s net profit for the full year ending on 31 March was up 25% to Rs202.86bn.

Full-year petrochemicals EBIT rose by 8% to Rs93.05bn, while sales were up 14% at Rs631.55bn.

($1 = Rs44.31)

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By: Graeme Paterson
+44 20 8652 3214

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