Reliance profit up 7% | business | Hindustan Times
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Reliance profit up 7%

RIL has posted a 7.4 per cent increase in quarterly profits at Rs 4,122 crore. The company reported consistently high margins in processing crude.

business Updated: Oct 23, 2008 22:46 IST
HT Correspondent

The country’s largest private sector firm Reliance Industries (RIL) has posted a 7.4 per cent increase in quarterly profits at Rs 4,122 crore. The company reported consistently high margins in processing crude.

Total revenues stood at Rs 44,787 crore during the period under review against Rs 32,043 crore posted a year-ago.

“We are in the final leg of capital expenditure and will see cash flows from these investments in the coming quarters,” Mukesh Ambani, chairman RIL, said. “Leading economies are passing through some unprecedented challenges. Our businesses are gearing to meet these challenges.”

The company’s refining margins stood at $13.4 per barrel, above the bench mark Asian Dubai crack margin at $5.8 barrel. Refining margin is the profit from processing a barrel of crude oil.

The company’s shares closed down 7.62 per cent at Rs 1,215.25 on the Bombay Stock Exchange on Thursday.