Reliance Petroleum Q1 net profit soars 25%
Reliance Petroleum, a subsidiary of Mukesh Ambani owned Reliance group, has registered a growth of 25% in its net profit, which surged to Rs 105 crore for the first quarter ended June 30, 2009, compared to last fiscal.
Further, the company has posted a turnover of Rs 7,639 crore in the first quarter of current fiscal.
Reliance Petroleum had earned a net profit of Rs 84 crore and clocked a turnover of Rs 3,678 crore in FY 09.
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. Despite declaration of good results, the shares of the company settled the day at Rs 126, down 1% compared to its previous close. The counter has made 52-week-high and low of Rs 177 and Rs 68 respectively.