Reliance Industries posts 58 percent higher profit

Friday, 19 January 2007, 06:00 Hrs
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Mumbai: India's top private sector firm Reliance Industries announced that its net profit rose 58 percent to 27.99 billion ($632 million) during the quarter ending Dec 31, thanks to higher than forecast margins in petrochemicals.

The company said it registered net sales of 17.76 billion during the quarter, while the total turnover stands at 277.71 billion during the period.

The company's total income for the third quarter of 2006-07 was at 265.14 billion as against 183.48 billion in the same period last year.

During the quarter, Reliance Industries registered a 141 percent rise in exports to 160.10 billion.

It said that its earnings per share (EPS) during the third quarter stood at 20.10 as against 12.70 in the corresponding period last fiscal.

Following the better than expected results, Reliance shares rose 1.27 percent or 17 to 1,367 by close of trading Thursday in a firm market.
Source: IANS
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