RIL’s net profit of Rs 7,467cr for 1HFY07-08, up 31%

Reliance Industries Limited (RIL) today reported its financial performance for the half year ended 30th September, 2007. Highlights of the un-audited financial results as compared to the previous period are:

• Turnover increases by 9% to Rs. 64,692 crore (US$ 16.24 billion).

• Cash Profit increases by 20% to Rs. 10,223 crore (US$ 2.57 billion)

• Net Profit increases by 31% to Rs. 7,467 crore (US$ 1.87 billion)

• Gross Refining Margin for 2Q FY 07-08 was at US$ 13.6 / bbl and for 1H FY 07-08 was US$14.5 / bbl

• Reliance has acquired a majority stake and management control of Gulf Africa Petroleum Corporation (GAPCO), a petroleum downstream company in East Africa.

• Reliance has signed an agreement to acquire the assets of Hualon, a leading polyester producer in Malaysia. 

To view the detailed press release click on the attachment. 

Sourced From: Reliance Industries Limited