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Corporate News: Reliance posts a 24% profit rise
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Corporate News: Reliance posts a 24% profit rise
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Newspaper Article
Corporate News: Reliance posts a 24% profit rise
2008
Overview
Reliance, India's biggest company by market value, said gross refining margin in the fourth quarter was $15.50 a barrel, higher than $13 a barrel a year earlier, and marginally more than $15.40 a barrel in the third quarter. Gross refining margin is the difference in the cost of the refined product and the cost of buying the crude for refining. Total expenses in the fourth quarter increased 39% to 326.48 billion rupees. Reliance's spending on raw materials rose 41% during the quarter to 256.64 billion rupees because of higher prices of crude oil and naphtha, the company said.
Publisher
Dow Jones & Company Inc
Subject
