Reliance Industries Posts Big Profits Hike

Reliance Industries posted net profits of $4 billion for the nine months ended December 31, 2007, a 77% increase over the same period in the previous financial year. Sales increased 13%, to $25.5 billion. Reliance says the sales hike reflects an 8% increase in prices and 5% growth in volumes. Reliance's petrochemicals production grew 4% in the nine-month period, to 14.5 million m.t. The company's total exports grew 20%, to $15.1 billion, and consumption of raw materials increased 10%, to $16.4 billion mainly on account of higher crude oil prices. Reliance agreed...

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