Reliance Industries Limited (RIL) reported its financial performance for the quarter/half year ended 30th September, 2012.
Highlights of Half Year’s Performance
Revenues (turnover) increased by 14% to Rs 188,191 crore ($ 35.6 billion) Exports increased by 11% to Rs 112,667 crore ($ 21.3 billion) PBDIT at Rs 18,468 crore ($ 3.5 billion) Profit Before Tax at Rs 12,236 crore ($ 2.3 billion) Cash Profit at Rs 14,504 crore ($ 2.7 billion) Net Profit at Rs 9,849 crore ($1.8 billion) Gross Refining Margin at $ 8.5 /bbl for the half year ended 30th September 2012
Highlights of Quarter’s Performance- 2Q FY13 V 1Q FY13
Revenues (turnover) decreased by 1.7% to Rs 93,265 crore ($ 17.6 billion) Exports increased by 3.9% to Rs 57,406 crore ($ 10.9 billion) PBDIT increased by 13.5% to Rs 9,817 crore ($ 1.9 billion) Profit Before Tax increased by 25.2% to Rs 6,803 crore ($ 1.3 billion) Cash Profit increased by 13.8% to Rs 7,719 crore ($ 1.5 billion) Net Profit increased by 20.2% to Rs 5,376 crore ($ 1.0 billion) Gross Refining Margin at $ 9.5/bbl for the quarter
Corporate Highlights
On 25 September 2012, RIL and the Venezuelan state oil company, Petroleos de Venezuela, SA (PDVSA) signed a 15 year heavy crude oil supply contract and an MOU to further develop Venezuelan heavy oil fields. PDVSA will supply between 300,000 and 400,000 barrels per day of Venezuelan heavy crude oil to Reliance’s two refineries in Jamnagar under a 15-year crude oil supply contract. As per the MOU, Reliance will explore upstream options for joint participation in heavy oil projects of the Orinoco Oil Belt.
RIL selected Fluor Corporation to provide project management services for its projects being executed at its refining and petrochemical complex in Jamnagar, India. These projects represent one of the largest investments globally.
