RIL Q1 net drops 11.53% to Rs 3,636 cr
Mumbai: Mukesh Ambani-promoted Reliance Industries on Friday reported 11.53 per cent decline in net profit at Rs 3,636 crore for the first quarter ended June 30, 2009, over the same period last year.
The refining major had a net profit of Rs 4,110 crore in
the first quarter of last fiscal, RIL said in a statement.
Total income fell by 21.64 per cent to Rs 32,757 crore in
the June quarter from Rs 41,805 crore in the corresponding
period a year-ago.
"Timely completion with safe and stable start up of the
new SEZ refinery and the deep-water, oil and gas KG D6 block
are noteworthy accomplishments.
"These projects will not only play a significant role in
shaping the future growth at RIL but more importantly will
help change the energy landscape of India and the industry
globally," RIL Chairman and Managing Director Mukesh Ambani
The company commenced gas production from KG D6 basin
from April 2 this year.
RIL's revenue from petrochemical business stood at Rs
11,540 crore in the first quarter, down by 22.4 per cent from
Rs 14,871 crore in the year-ago period.
Revenue from the refining business also dropped 22.72 per
cent to Rs 25,180 crore during the quarter from Rs 32,587
crore in the corresponding period in previous fiscal.
The company's gross refining margin stood at USD 7.5/bbl
for the quarter ended June 30, 2009, the statement added.
However, revenue from oil and gas segment doubled to Rs
1,864 crore in the first quarter from Rs 787 crore in year-ago
Shares of RIL closed at Rs 2,013.75, down by 1.20 per
cent over previous close on BSE.