Riding on a higher gross refining margin (GRM) of $15.5 per barrel and some help from non-operational income, Reliance Industries (RIL) on Monday reported a 24% increase in its fourth-quarter net profit to Rs 3,912 crore, excluding exceptional items. This was on a turnover of Rs 38,697 crore, an increase of 32% over the corresponding quarter last fiscal.
The operating margin (excluding other and exceptional income) during the fourth quarter declined by nearly 270 basis points to 16.1% of net sales against 18.8% compared with the corresponding period last year. For the full year, the company reported an operating margin of 17.5% in FY08 against 18% in the previous year
For the entire year, RIL’s net profit grew by 28% to Rs 15,261 crore on revenues of Rs 139,269 crore, an increase of 18% over the previous year. The company’s profit during the year was helped by a Rs 986-crore profit from foreign exchange transaction and sales-tax savings due to higher exports and conversion of its
The company’s other income nearly doubled in FY08 to Rs 895 crore, primarily because of an increase in interest income. Including exceptional items, the net profit for the full year was Rs 19,458 crore, just under $5 billion. The exceptional item was proceeds from the sale of shares in Reliance Petroleum, a subsidiary in which RIL owns a 70% stake.
Resources - economictimes.com
0 comments:
Post a Comment