Reliance Industries Q1 net up 10.25 pc to Rs 2,547 crore

Mumbai, July 20 (UNI) Reliance Industries Ltd has posted a net profit of Rs 2,547.0 crore for the quarter ended June 30 as compared to Rs 2,310.0 crore for the corresponding period last year, an increase of 10.25 per cent.

Announcing the results, the company said its total income (net of excise) has increased from Rs 17,978.0 crore in Q1 FY'05-06 to Rs 24,566.0 crore for the quarter ended June 30 Q1 FY'06-07, an increase of 36.64 per cent.

A RIL release here today quoted its Chairman Mukesh Ambani saying, ''It has been an excellent quarter for RIL. All our businesses have recorded robust performance in a very challenging environment. I am very excited about RIL's future as we continue to commit our cash flows in expanding our existing and new businesses.'' Other incomes have decreased from Rs 194 crore to Rs 44 crore on account of decrease in net interest income due to utilisation of surplus funds primarily for investment in Reliance Petrochemicals Limited (RPL), the release said.

Earning per share for the quarter stood at Rs 18.3, while contribution to the national exchequer in the form of various taxes was Rs 3,323 crore.

Consumption of raw materials increased by 34 per cent from Rs 13,540 crore to Rs 18,152 crore primarily on account of higher crude prices.

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