Reliance Q2 net rises over 20 per cent to Rs5,376 cr despite lower sales

Reliance Industries has reported a 20.2 per cent increase in its net profit for the second quarter of the 2012-13 financial year ended 30 September 2012, at Rs5,376 crore (around $1 billion) even as its turnover (revenue) for the quarter decreased by 1.7 per cent to ` Rs93,265 crore ($17.6 billion), year-on-year.

Profit before tax (PBT) for the July-September 2012-23 quarter increased by 25.2 per cent to Rs6,803 crore ($1.3 billion), while the company's profit before depreciation, interest and tax (PBDIT) increased by 13.5 per cent to Rs9,817 crore ($1.9 billion). Cash profit increased by 13.8 per cent to Rs7,719 crore ($1.5 billion) during the quarter.

Exports increased by 3.9 per cent to Rs57,406 crore ($10.9 billion)

Gross refining margin for the quarter stood at $9.5 per barrel.

Net profit for the first half of the financial year 2012-13 stood at Rs9,849 crore ($1.8 billion) while profit before tax at Rs12,236 crore ($2.3 billion) and profit before depreciation, interest and taxes (PBDIT) stood at Rs18,468 crore ($3.5 billion). RIL reported a cash profit of Rs14,504 crore ($2.7 billion) during H1 of 2012-13.

Revenues (turnover) for the first half of fiscal 2012-13 increased by 14 per cent to Rs188,191 crore ($35.6 billion)