Refining business delivered the highest ever profits with a sharp recovery in GRMs
RIL posted a consolidated net profit of Rs 23,566 crore in the 2014-15 fiscal (Photo: PTI)
Mumbai: Reliance Industries Ltd declared a record revenue jump of 8.1 per cent for the year at Rs401,302 crore, and a record net profit of Rs21,984 crore, up 4.7 per cent.
Declaring its quarter and annual results on Friday the company said it recorded the highest ever Gross Refining Margin (GRM) of $8.1/bbl for the year and $9.3/bbl for the quarter. “FY 2013-14 was a satisfying year for RIL. Refining business delivered the highest ever profits with a sharp recovery in GRMs towards the end of the year,” said Mukesh D. Ambani, CMD, RIL.
He said “While we continue to face technical challenges in growing domestic upstream production, the US shale gas business grew significantly during the year and has become a material contributor to our earnings.” He said the retail business has turned around and they have also accelerated efforts to roll out their 4G services “which will add a new dimension to their consumer facing service offerings.”
( Source : dc correspondent )
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