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Reliance reports higher sales and earnings, polyesters impact petchems margin
11:48 AM MDT | July 21, 2014 | Natasha Alperowicz
Reliance Industries’ consolidated net profit in the first quarter of fiscal 2015 rose 13.7%, to 59.6 billion Indian rupees ($1.00 billion), compared with the year-earlier period on 7% higher revenues of Rs1.08 trillion, the company announced on Saturday. Revenues for the petrochemical business in the quarter ended 30 June 2014 increased 9.3%, to Rs254 billion, and the business's Ebit was up 6%, to Rs18.6 billion. Ebit margin declined from 7.6% in the first quarter of fiscal 2014 to 7.3% in the latest quarter mainly because of weaker polyester chain margins...
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