RIL announced unaudited results for the nine months

RIL announced its unaudited results for the nine months ended December 31, 2003. According to the release on their website, the figures are: Gross Turnover (including inter divisional transfers and excise duty) of Rs 54,066 crores (US $ 11,856 million). Net Profit of Rs 3,741 crores (US$ 820 million) - the highest in the private sector.

Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Ltd. is quoted saying: "We are happy that Reliance has reported another quarter of record-breaking financial performance. With continuing indications of an upturn in the petrochemicals cycle, we are confident of achieving superior performance in the years ahead."

Anil D. Ambani, Vice-Chairman and Managing Director, Reliance Industries Ltd., added: 'We are delighted with Reliance's strong financial performance in a quarter that saw further improvement in the operating environment for each of our key businesses.

The refining business in particular has witnessed healthy demand growth during the quarter, in line with improving prospects for accelerated economic growth in the country.

We are also happy with the 28% growth in our exports during the quarter, despite the 5% appreciation in the value of the Indian rupee against the US$, demonstrating once again, the international quality and global competitiveness of our products, and the strength of our customer relationships worldwide."

Source: Reliance.com

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