New Delhi, Jan 18: Reliance Industries Ltd (RIL) Friday denote a earnings growth of 0.4 % to Rs.5,511 crore for the third quarter ended Dec 2013 on the rear of other incomes.
RIL’s earnings before interest, tax, depreciation and amortisation (EBITDA) for the quarter dropped 2.9 % to Rs.7,622 crore from the corresponding quarter of the previous year, whereas margin slipped 20 basis points to 7.4 percent.
The company’s web revenues declined to Rs.103,000 crore in the third quarter as against Rs.104,000 crore in the previous quarter.
Other income went up nearly 12 % to Rs.2,305 crore during the quarter over the same quarter of the previous financial on account of upper liquid investments.
RIL’s gross refining margin in the quarter stood at $7.6 a barrel, that was lower compared to $7.7 a barrel in the previous quarter.
RIL chairman Mukesh Ambani said: “We are happy to announce the commission of our new polyester facility in Silvassa, the primary amongst a series of comes that underpin RIL’s competitive position.
“Our retail business continues on its rapid growth trajectory with 38 % revenue growth throughout the quarter.”
The government has allowed RIL to charge higher costs for natural gas from April on condition that the company gives a bank guarantee to settle any claims against it over shortage in its gas output from its KG-D6 block within the jap offshore.
The company’s shares closed Friday at Rs.884.55 down 0.60 points, or 0.07 % over its previous shut on the Mumbai stock exchange (BSE).
