Reliance to announce third quarter results on 31 January

Mumbai: Reliance Industries (RIL) will announce its unaudited financial results for the third quarter ended 31 December 2002 on 31 January 2003. A notice to this effect has already been sent to the stock exchanges.

In the financial year ended March 2002, RIL achieved a gross turnover of Rs 57,120 crore ($11,705 million) and a net profit of Rs 3,243 crore ($665 million) — the highest in the private sector.

The Reliance group, founded by Dhirubhai H Ambani (1932-2002), is India’s largest business house with total revenues of Rs 65,000 crore ($13.3 billion), cash profit of over Rs 7,500 crore ($1.5 billion), a net profit of over Rs 3,600 crore ($740 million) and exports of Rs 11,400 crore ($2.3 billion). The group has total assets of Rs 69,000 crore ($14.1 billion).

The group’s activities span petrochemicals, synthetic fibres, fibre intermediates, textiles, oil and gas, financial services, refining and marketing, power, insurance, telecom and infocomm initiatives. Reliance emerged as India’s Most Admired Business House, for the second successive year in a Taylor Nelson Sofres-Mode survey for 2002.