The Hindu : RIL's net up at Rs 4,104 cr.

Online edition of India's National Newspaper
Thursday, Apr 24, 2003

Business

Business

RIL's net up at Rs 4,104 cr.

By Our Staff Correspondent

MUMBAI APRL 23. Reliance Industries Ltd. has announced a net profit of Rs. 4,104 crores for the year ended March 2003, the highest in the private sector and a jump of 45 per cent over the previous year's Rs. 2,831 crores. The company has announced a dividend of 50 per cent (47.5 per cent). The company's gross turnover for the year was at Rs. 65,061 crores (Rs. 57,120 crores), an increase of 14 per cent. Its operating profit was at Rs. 9,366 crores (Rs. 8,658 crores).

The company provided Rs. 1,555 crores (Rs. 1,825 crores) for interest, Rs. 2,837 crores (Rs. 2,816 crores) for depreciation, Rs. 246 crores (Rs. 190 crores) for current tax and Rs. 624 crores (Rs. 996 crores) for deferred tax.

RIL's total assets were at Rs. 63,736 crores (Rs. 56,485 crores) and net worth was at Rs. 30,326 crores (Rs. 27,812 crores). Its contribution to the national Exchequer in the form of various taxes was Rs. 13,210 crores (Rs. 10,470 crores). The outflow on account of capital expenditure was Rs. 3,708 crores primarily on account of oil and gas and normal capital expenditure.

The company's production of oil and gas and petrochemicals, including toll conversion increased to 11.8 million tonnes during the year (11.5 million tonnes) and the refinery operated at 106 per cent capacity utilisation processing 28.56 million tonnes of crude.

Exports including deemed exports were Rs. 11,510 crores (Rs. 11,200 crores).

Mukesh D. Ambani, Chairman and Managing Director, RIL, said, "Reliance has moved into a new and exciting phase of growth in 2002-03. The discovery of the world's largest gas find in 2002 in India, the acquisition of IPCL and BSES, the completion of RPL's merger with RIL and the countrywide launch of our Infocomm services, all in a span of one year, are significant milestones in Reliance's growth, and reflect our inherent organisation strengths and the depth of our worldclass project implementation and management capabilities.''

For the quarter ended March 2003, RIL's net profit was at Rs. 1,101 crores (Rs. 835 crores) on a gross turnover of Rs. 17,679 crores (Rs. 13,394 crores). The company provided Rs. 334 crores (Rs. 359 crores) for interest, Rs. 877 crores (Rs. 739 crores) for depreciation, Rs. 199 crores (Rs. 47 crores) for current tax and Rs. 639 crores (Rs. 15 crores) for deferred tax.

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