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RIL Q4 net up 41% at Rs 1,101 crore
April 23, 2003 12:54 IST
Reliance Industries Ltd, India's second most valuable company, posted a fourth quarter net profit of Rs 1,101 crore (Rs 11.01 billion). This shows a 41 per cent rise in quarterly net profit, boosted by higher petrochemical prices and firmer refining margins.
The chemicals to telecom group's gross sales gross sales for the fourth quarter were up 32 per cent at Rs 17,679 crore.
The results were slightly lower than expected, with a Reuters poll of 10 analysts expecting a net profit of Rs 11.37 billion for the quarter.
Analysts had estimated comparable net profit for the March quarter of 2002 of Rs 8.34 billion on a net turnover of Rs 99.93 billion, accounting for the merger of Reliance Industries and Reliance Petroleum in September 2002.
Reliance's petrochemical business has benefitted from stronger global prices and robust domestic demand as industrial growth remained strong in the world's 12th-largest economy.
Reliance shares have fallen around seven per cent this year, but have outperformed the Sensex by around 6 per cent.
For the fiscal year 2002-03, the company recorded a 45 per cent growth in net profit to Rs 4,104 crore (Rs 41.04 billion). Gross sales for the year rose 14 per cent to Rs 65,061 crore (Rs 650.61 billion).
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Number of User Comments: 4
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Sub: Reliance Results 2002-03
The performance is just fantastic. Our Stock markets have no scientific basis for its ups and downs. The stock performance on the day any company ...
Posted by rajeswara rao
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Sub: Reliance results.
Our stock markets are not based on scientific basis.It is a gambler's den.Reliance continues to give improved results but somehos the stock markets do not ...
Posted by Nandish M.Ballu
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Sub: Comment about Reliance in Info. Mobile Service.
After going there booking of mobile phone services, it is still in higher side in intialinvestment or deposit to start with middle class persons. So ...
Posted by K.S.RAMASWAMI
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Sub: Reliance Infocom Initiatives
Markets are bearish on the scrip simply because the picture about telecom / mobile services launched is far from clear . Average Prospective user is ...
Posted by Sunil Ghotge
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