Reliance Industries has announced its third quarter numbers. It has posted growth of 26% in its standalone net profit of Rs 3,882 crore for the quarter ended December 2007 as against Rs 3,081 crore in same period of previous year. Revenues went up by 22.7% to Rs 34,590 crore versus Rs 28,195 crore. Other income increased to Rs 241 crore from Rs 42 crore. Gross refining margins stood at USD 15.4 per barrel versus Singapore margin of USD 7.7 and operating profit margin at 16.9%. Diluted EPS is at Rs 26.70, which is excluding exceptional income. Refining EBIT margin increased to 10% in Q3 from 9.8% in Q2FY08, and petrochem revenues went down by 3% to Rs 12,706 crore and production down by 2%. Petrochem EBIT was down to 14% from 15.6% in Q2. Refining and marketing revenues surged by 25% to Rs 26154 crore and refining & marketing EBIT up by 36% at Rs 2,614 crore. Refining margin stood at 10% versus 9.2% and petchem margins at 14%versus 13.6%. Depreciation was lower at Rs 3,467 crore versus Rs 3,588 crore. According to CNBC-TV18 estimates, it was expected to post net sales of Rs 34,066 crore and net profit of Rs 3,837.2 crore.
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