India's Reliance Industries Q1 net profit jumps 28pc
Monday, 30 July 2007
MUMBAI, July 29 (AFP): India's largest private-sector firm Reliance Industries reported yesterday that first-quarter net profit jumped by a better-than-expected 28.1 per cent thanks to better margins and higher exports.
The oil and petrochemical giant said net profit totalled 32.64 billion rupees (809 million dollars) in the three months to June on sales which rose 14.6 per cent to 281.61 billion rupees.
Analysts had forecast that the company would report a first- quarter profit of around 30 billion rupees.
"Our manufacturing facilities have demonstrated a high operating leverage by delivering superior margins and record profits," chairman Mukesh Ambani said in a statement.
The oil and petrochemical giant said net profit totalled 32.64 billion rupees (809 million dollars) in the three months to June on sales which rose 14.6 per cent to 281.61 billion rupees.
Analysts had forecast that the company would report a first- quarter profit of around 30 billion rupees.
"Our manufacturing facilities have demonstrated a high operating leverage by delivering superior margins and record profits," chairman Mukesh Ambani said in a statement.