India's richest man makes a mind-boggling Rs 11,000 crore every day
The
figures speak for themselves with Mukesh Ambani-led Reliance Industries
Limited (RIL) reporting a whopping Rs 401,302 crore turnover for the
financial year 2013-14 on Friday compared to Rs 371,119 crore in FY13.
RIL
also posted its highest quarterly profit in more than two years as
robust petrochemical margins and a surge in export earnings on a drop in
rupee value offset weakness in the natural gas business.
Net
profit rose 0.8 per cent to Rs 5,631 crore, or Rs 17.4 per share, in
the January- March period from Rs 5,589 crore, or Rs 17.3 a share, in
the same period a year ago.
For
the full financial year, RIL reported a record net profit of Rs 21,984
crore, the highest by any private sector firm in the country. Net profit
was 4.7% higher than Rs 21,003 crore in 2012-13.
Earnings
from oil refining climbed 12.3 % while those from the
petrochemical segment were up 10.6 % offsetting a 17.8-%
dip in the oil and gas business, the company said in a statement.
RIL,
which operates the world's biggest refining complex at Jamnagar in
Gujarat, earned $9.3 on turning every barrel of crude oil into fuel in
the quarter compared with a gross refining margin of $10.1 a barrel a
year earlier and $7.60 a barrel in the preceding three months.
Earnings
got a boost as the rupee declined to 61.8 against the dollar in Q4 from
54.2 a year earlier.
Sales rose 13 % to Rs 97,807 crore in Q4.
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