Reliance H1 net down 8.5 per cent at Rs7,845 crore
29 Oct 2009
Reliance Industries Limited (RIL) today reported an 8.5 per cent fall in its fiscal first half 9 April-September 2009-10) net profit at Rs7,518 crore ($1.6 billion) compared to the corresponding period of the previous financial year.
Reliance said its turnover decreased 8.7 per cent to Rs81,284 crore ($16.9 billion) while exports plunged 26 per cent to Rs43,035 crore ($8.9 billion).
Profit before depreciation, interest and tax (PBDIT) increased 15 per cent to a record Rs14,939 crore ($3.1 billion). PBDIT margin increased from 14.6 per cent to 18.4 per cent, Reliance said in a release.
Cash profit increased by 7.3 per cent to Rs12,425 crore ($2.6 billion) while profit before tax decreased marginally by 1.2 per cent to Rs9,706 crore ($2.0 billion).
Gross refining margin stood at $6.3 a barrel for half year and $6.0 a barrel for the quarter ended 30 September 2009, the release said.
During the period the Bombay high court sanctioned the scheme of amalgamation of Reliance Petroleum Limited (RPL) with Reliance Industries Limited (RIL) and the scheme become effective from 11 September 2009 with the appointed date being 1 April 2008.
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