Mukesh Ambani-promoted Reliance Industries on Friday reported 11.53 per cent decline in net profit at Rs 3,636 crore (Rs 36.36 billion) for the first quarter ended June 30, 2009, over the same period last year.
The refining major had a net profit of Rs 4,110 crore (Rs 41.10 billion) in the first quarter of last fiscal, RIL said in a statement.
Total income fell by 21.64 per cent to Rs 32,757 crore (Rs 327.57 billion) in the June quarter from Rs 41,805 crore (Rs 418.05 billion) in the corresponding period a year-ago.
"Timely completion with safe and stable start up of the new SEZ refinery and the deep-water, oil and gas KG D6 block are noteworthy accomplishments.
"These projects will not only play a significant role in shaping the future growth at RIL but more importantly will help change the energy landscape of India and the industry globally," RIL chairman and managing director Mukesh Ambani said.
The company commenced gas production from KG D6 basin from April 2 this year.
RIL's revenue from petrochemical business stood at Rs 11,540 crore (Rs 115.4 billion) in the first quarter, down by 22.4 per cent from Rs 14,871 crore (Rs 148.71 billion) in the year-ago period.
Revenue from the refining business also dropped 22.72 per cent to Rs 25,180 crore (Rs 251.8 billion) during the quarter from Rs 32,587 crore (Rs 325.87 billion) in the corresponding period in previous fiscal.
Reliance Petroleum posts Rs 105 cr profit: According to another report, Reliance Petroleum on Friday reported a net profit of Rs 105 crore (Rs 1.05 billion) for the first quarter ended June 30, 2009.
Total income of the company was Rs 7,646 crore (Rs 76.46 billion) in the quarter. It started commercial production on March 15, 2009.
The total expenditure during the quarter amounted to Rs 7,425 crore (Rs 74.25 billion), RPL said, adding 'the total capital employed by the company is Rs 34,693 crore (Rs 346.93 billion)".
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