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RIL's Q2 profit up by over 7 per cent

CNN-IBN
Oct 23, 2008 at 09:04pm IST

Mumbai: Reliance Industries Limited has come out with its second quarter result beating expectations. The Q2 net profit was up 7.4 per cent at Rs 4122 crore versus Rs 3837 crore.

Its net sales were up 39.8 per cent Rs 44787 crore versus Rs 32043 crore during the same period last year.

The company's additional depreciation charge of Rs 798 crore for H1.

PBIT margins at 11.9 per cent vs 12.3 per cent QoQ. PBIT margins at 11.9 per cent vs 14.8 per cent YoY.

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

  • Turnover increased by 38% to Rs. 89,163 crore ($19.0 billion)
  • Exports increased by 57% to Rs. 58,180 crore ($12.4 billion)
  • PBDIT increased by 10% to Rs. 12,972 crore ($2.8 billion)
  • Cash Profit increased by 9% to Rs. 11,097 crore ($2.4 billion)
  • Net Profit increased by 10% to Rs. 8,232 crore ($1.8 million)

RIL operates the world's third-largest refinery at Jamnagar and has tied up with US-based energy giant Chevron Corp to build another refinery.

Together, the two refineries are expected process 1.24 million barrels of crude per day by 2009.

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