RIL Reported Its Financial Performance for The First Quarter

Reliance Industries Limited (RIL) reported its financial performance for the first quarter ended 30th June, 2014.

Highlights of Quarter’s Performance (Consolidated)
-Revenue (turnover) increased by 7.2 % to Rs. 107,905 crore ($ 17.9 billion)
-PBDIT increased by 7.2 % to Rs. 11,016 crore ($ 1.8 billion)
-Profit Before Tax increased by 16.8 % to Rs. 7,729 crore ($ 1.3 billion)
-Cash Profit increased by 13.9 % to Rs. 8,984 crore ($ 1.5 billion)
-Net Profit increased by 13.7 % to Rs. 5,957 crore ($ 1.0 billion) 

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said, “RIL has delivered a record level of consolidated net profit, this quarter. This was achieved despite weak regional refining margins and a planned turnaround in our refinery.

"The petrochemicals business performance highlights the strength of our portfolio mix and end market diversity. Alongside, this robust financial performance, we also made significant progress on our growth commitments. We have a great pipeline of new projects which will give Reliance an enduring competitive advantage. We are further expanding our retail business in existing markets while exploring newer markets and channels. At Reliance, social responsibility and care for the environment is an integral part of our economic success.”

Petrochemicals Business
1Q FY15 revenue from the Petrochemicals segment increased by 9.3% Y-o-Y to Rs. 25,398 crore ($ 4.2 billion). Revenue growth was primarily on account of increase in prices while EBIT was at Rs. 1,863 crore , an increase of 6% on a Y-o-Y basis. EBIT margin was lower at 7.3% due to weaker polyester chain margins which offset strength in polymer margins.