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Reliance Petroleum posts Rs84 crore profit

Reliance Petroleum posts Rs84 crore profit
PTI
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First Published: Thu, Apr 23 2009. 05 25 PM IST
Updated: Thu, Apr 23 2009. 05 25 PM IST
Mumbai: Mukesh Ambani-led Reliance Petroleum Ltd (RPL) on Thursday said it has reported a net profit of Rs84 crore and a net turnover of Rs3,678 crore for the quarter ended 31 March 2009.
The company started commercial production from 15 March. Hence, figures for the year-ago period were not available.
The total expenditure during the quarter amounted to Rs3,564 crore, RPL said in a filing to the Bombay Stock Exchange (BSE), adding that “the total capital employed by the company is Rs33,982 crore.”
Shares of the company reacted positively to the news and were trading at Rs109.60, up 2.72% in the late afternoon trade on the BSE.
Last month, the boards of Reliance Industries Ltd (RIL) and RPL had approved the merger of both the entities which created one of the largest petrochemical firms of the world.
“RPL refinery has achieved startup and successful stabilization of its operations within a short period of time. The proposed merger with RIL would lead to a globally competitive and industry leading refining business and create sustainable value for shareholders,” RPL chairman Mukesh Ambani said.
During the quarter, RPL had commissioned a SEZ refinery at Jamnagar with a capacity of processing 3.6 million tonnes of crude.
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First Published: Thu, Apr 23 2009. 05 25 PM IST