Mukesh Ambani led-Reliance Industries on Thursday announced a net profit of Rs 4,110 crore for the quarter ended June 30, 2008, a 13 per cent increase over the corresponding period last fiscal.
The company had reported a net profit of Rs 3,630 crore in the year-ago period, a company statement said.
The total income of the company increased 40.65 per cent to Rs 41,805 crore in the first quarter of the current fiscal, against Rs 29,721 crore in the same quarter last fiscal.
Reliance Industries' turnover increased 38 per cent to Rs 43,050 crore for the quarter ended June 30, from Rs 31,290 crore in the same quarter last fiscal.
Revenue of the company grew 36 per cent due to increase in prices and 2 per cent growth in volumes. Exports were higher by 112 per cent at Rs 28,357 crore in the first quarter this year, compared to the previous fiscal, the company release said.
"At Reliance we continued to scale new peaks in financial performance despite challenging business environment including domestic inflation and weakening of the leading economies of the world. The sterling performance was made possible by our quality manufacturing assets and experienced, highly skilled people,” Reliance Industries chairman and managing director Mukesh Ambani said.
"We will play a major role in India's energy security as we are focusing to be among the top leaders in the world in the oil and gas sphere. We are confident that the new growth drivers Oil and Gas, Organised retailing and Agro-Retail will take Reliance to a higher growth trajectory in the medium term," Ambani added.
Besides, the Panna-Mukta fields of the produced 321,600 tonne of crude oil and 353 mmscm of natural gas, a decrease of 30 per cent and 27 per cent respectively, compared to the corresponding period of the previous fiscal.
Revenue for the refining and marketing segment increased by 46 per cent to Rs 32,587 crore in the first quarter this fiscal from Rs 22,328 crore in the same period previous year, mainly due to high product prices driven by high crude oil prices. Increase in prices accounted for 41 per cent of growth in revenue while higher volumes accounted for five per cent.

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