Reliance Petroleum posts Rs 105 cr profit in Q1

Mukesh Ambani-promoted Reliance Petroleum (RPL) today reported a net profit of Rs 105 crore for the first quarter ended June 30, 2009.     

Total income of the company was Rs 7,646 crore in the quarter. It started commercial production on March 15, 2009.     

The total expenditure during the quarter amounted to Rs 7,425 crore, RPL said in a statement, adding "the total capital employed by the company is Rs 34,693 crore".     

"RPL's refinery is the largest and the most complex refining asset commissioned anywhere in the world during the last decade. The refinery has had a smooth and safe start up in this quarter and achieved stability of operations. We look forward to the refinery creating significant value," RPL Chairman Mukesh Ambani said.     

 

The company's gross refining margin (GRM) at the end of June quarter stood at $5.4/bbl and the total crude processed of the company was at 4.04 million tonnes. The cash profit was at Rs 355 crore at the end of Q1.     

RPL has exported over 2.5 million tonnes of refined products to 26 countries, including US and Europe.     

In March, the boards of Reliance Industries (RIL) and RPL had approved the merger of both the entities which created one of the largest petrochemical firms of the world.

Shares of RPL closed at Rs 125.60, down 0.95 per cent over previous close on BSE.