23 Apr 2009, 1701 hrs IST, | |||||||
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| MUMBAI: India's biggest energy group, Reliance Industries Ltd, quarterly net profit fell 1 percent as global economic crisis hurt demand, but The company, valued at $54 billion, posted a net profit excluding the effect of exceptional items of 38.74 billion rupees ($773 million) on Thursday for its fiscal fourth quarter ended March, compared with 39.12 billion reported a year ago. A Reuters poll had forecast a net profit of 36.1 billion rupees. Reliance's most-watched refining margins fell to $9.9 per barrel in the quarter, from $15.5 a year earlier. Turnover fell to 290.73 billion rupees from 386.97 billion a year ago. Ahead of the results, shares in Reliance, closed up 2.7 percent at 1,762.35 rupees in a Mumbai market that rose 2.9 percent. The stock jumped 24 percent in the March quarter, outperforming a flat benchmark index and the energy sector's 16.6 percent rise. | |||||||
RIL Q4 net profit down 1% at Rs 3874cr
Reliance Industries has announced its fourth quarter results. The company's Q4 FY09 net profit was down by 1% at Rs 3,874 crore as compared to Rs 3,912 crore in the same period last year.
Its Q4 net sales were down 24% at Rs 2,8362 crore as against Rs 3,7286 crore on YoY basis.
Its Q4 operating profit margins were at 19.17% versus 16.14% on YoY basis. Its Q4 other income was at Rs 993 crore versus Rs 289 crore on YoY basis.
The company's Q4 EBITDA was at Rs 5437 crore versus Rs 6019 crore on YoY basis.
Its Q4 Gross Refining Margin (GRM) was at USD 9.90 per barrel FY09 whereas FY09 GRM was at USD 12.20 per barrel.
Its raw material costs was down 49.99% at Rs 12834 crore versu Rs 25664 crore.
Its other income was up 243% at Rs 993 crore versus Rs 289 crore.
Its interest costs was up 75.4% at Rs 477 crore versus Rs 272 crore.
The company's exceptional loss of Rs 370 crore reprersents provision towards estimated claims on acct of subsidies.
Reliance Says “Forex Exchange Accounting treatment followed by Co. is consistent with revised AS11”
According to CNBC-TV18 estimates, its net sales were seen down 18.5% to Rs 30,373.4 crore from Rs 37286 crore. The company’s net profit was seen down 9.9% to Rs 3526.2 crore from Rs 3912 crore. Its EBITDA was seen down 6.6% to Rs 5621 crore from Rs 6019 crore.
Other Results
23 Apr 2009, 1601 hrs IST, | |||||||
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| Reliance Petroleum Limited (RPL) on Thursday announced that the company has posted a net profit of Rs 84 crore on net sales of Rs 3,678 crone The refinery processed 3.6 million tonnes of crude oil and commenced several secondary processing units during the quarter, the company said in a media statement. The company has employed capital of Rs 33,982 crore ($6.7 billion) against the projected target of Rs 27,000 crore ($5.7 billion). The difference was primarily because of the exchange rate  The company has adjusted the foreign currency exchange differences on amounts borrowed for acquisition of fixed assets to the carrying cost of fixed assets in line with the amendment to Accounting Standard (AS 11), the company said in its notes to account. RPL has commenced production and dispatch of products from its refinery to the quality conscious markets of US and Europe, the company release said. RPL is in process of being merged with its parent firm Reliance Industries (RIL) from appointed date of April 1, 2008. Commenting on the progress of the refinery, RPL chairman Mukesh Ambani said, "The proposed merger with RIL will lead to a globally competitive and industry leading refinery business and create sustainable value for shareholders." Shares of RPL on BSE gained 3% to close at Rs 110. The stock has gained 2% over the last one week and 23% in the last one month. | |||||||
- RPL Q4 net profit at Rs 84 crore
- Reliance Infra FY'09 PAT up 15 pc at Rs 1,353 crore
RNRL FY'09 net up 4 per cent at Rs 71.54 crore Bata India Jan-March net down 6% RPL Q4 net profit at Rs 84 crore RPL Q4 net at Rs 84 cr, turnover at Rs 3,678 cr LIC Housing Finance Q4 net up 33 pc at Rs 157.55 cr Two Anil Ambani firms to announce FY'09 results on April 30
India's natural gas output to grow over 60% in FY10
India's natural gas production is expected to grow by over 60 per cent in the current fiscal on the back of higher output from Reliance Industries' eastern offshore KG basin block, an economic think-tank has said.
"In 2009-10, we expect domestic natural gas output to grow by a robust 60.5 per cent to 52,239 million cubic metres (mcm)," the Centre for Monitoring Indian Economy (CMIE) said in its April review.
"This is largely because of commencement of natural gas production from Reliance Industries' (RIL) Krishna Godavari basin," the CMIE said.
Cumulative domestic natural gas production during April-February 2008-09 was 30,019 million cubic metres, it said.
"For the same period, demand stood at 34,062 mcm. In 2008-09, natural gas output is expected to grow by a meagre 0.8 per cent to 32,529 mcm," CMIE said.
Mukesh Ambani-led RIL began production from its prolific D6 block on April 1 and currently produces 13 million standard cubic metre per day (mmscmd) of gas.
The initial 15.3 mmscmd output has already been committed to urea-making plants and volumes above this would go to gas-based power plants.
"This will help to meet the fast growing demand for natural gas in the country, especially from the fertiliser and power sectors," the CMIE said.
Source:Economic Times, Moneycontrol.com, BS etc...