RIL first private company to earn over Rs 1 lakh crore in a quarter.... The Mukesh Ambani-led Reliance Industries (RIL) on Monday became the first private sector firm to report revenues exceeding Rs 1 lakh crore in a quarter, joining its public sector peer Indian Oil Corporation ( IOC) which is the only other Indian company with the distinction so far. Driven by higher exports realisation due to a falling rupee, RIL reported a 14% growth in revenues to Rs 106,523 crore in the July-September quarter. Nevertheless, its profitability could not keep pace with revenue growth as RIL reported its slowest growth in profits in the last four quarters due to subdued refinery margins. However, RIL beat market expectations with a marginal 1.5% increase in net profit to Rs 5,490 crore. It earned $7.70 for every barrel of crude it processed, compared with $9.50 a barrel a year earlier and $8.40 a barrel in the June quarter. economictimes.indiatimes/reliance-industries-ltd/stocks/companyid-13215.cms
Posted on: Tue, 15 Oct 2013 02:47:55 +0000
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