Privatised Ipcl & #8217;S Net Jumps 90%

In its first year as a privatised company, the Reliance group-controlled Indian Petrochemicals Corporation Ltd (IPCL) has registered a 90 per cent increase in net profit at Rs 204 crore for 2002-03 from Rs 107 crore in the previous year.

Higher production volumes, a substantial jump in exports, lower interest outgo and cost reduction have resulted in higher profits for the petrochemicals giant. The net turnover of IPCL was up 6 per cent to Rs 5,798 crore from Rs 5,527 crore.

The company