The company’s net profit increased 13% to INR41.1 billion, compared to INR36.3 billion for the first quarter ended June 30, 2007. Exports increased by 112% to INR283.57 billion.
Reliance Industries’s (RIL) cash profit increased by 8% to INR54.86 billion. Revenue for the refining and marketing segment increased by 46% from INR223.28 billion to INR325.87 billion, mainly due to high product prices driven by high crude oil prices. Increase in prices accounted for 41% of growth in revenue while higher volumes accounted for 5%. Exports of refined products were at $5.7 billion.
Mukesh Ambani, chairman and managing director of Reliance Industries, said: At Reliance we continued to scale new peaks in financial performance despite challenging business environment including domestic inflation and weakening of the leading economies of the world.
