Petro-chemicals to telecom conglomerate Reliance Industries Limited (RIL) reported an 8.8 percent increase in its net profit to Rs 10,251 crore for the December 2018 ended quarter when compared to Rs 9,690 crore in the year-ago period. The company's revenue grew by 56 percent to Rs 1,71,336 crore for the third quarter of 2018-19, it said in an exchange filing.
The company said that its increase in revenue was on account of the higher price realizations and volumes in its petrochemicals and refining business clubbed by strong growth in the consumer business. Its exports were higher by 35.2 percent at Rs 62,378 crore as against Rs 46,151 crore in the corresponding period of the previous year. The increase in volumes of polymer products and fibre intermediates from to its new facility in Jamnagar and an increase in product prices in the petrochemical business contributed greatly.
On the operational front, EBITDA rose by 21.3 percent to Rs 21,317 crore in the third quarter from Rs 17,580 crore in the same period of the previous year.