BrahMos WORLD INDIA MADHYA PRADESH BHOPAL WTN SPECIAL Astrology GOSSIP CORNER SPORTS BUSINESS FUN FACTS ENTERTAINMENT LIFESTYLE TRAVEL ART & LITERATURE SCIENCE & TECHNOLOGY HEALTH EDUCATION DIASPORA OPINION & INTERVIEW RECIPES DRINKS FUNNY VIDEOS VIRAL ON WEB PICTURE STORIES
WTN HINDI ABOUT US PRIVACY POLICY SITEMAP CONTACT US
logo
Breaking News

RIL's O2C business logs 75% rise in Q1 revenues on high crude prices

Friday - July 23, 2021 9:54 pm , Category : BUSINESS
Mumbai, July 23 (IANS) The oil-to-chemical business of Reliance Industries Ltd (RIL) has registered a massive 75.2 per cent increase in its revenues at Rs 1.03 lakh crore for the April-June quarter.
The company attributed the rise in revenues to the increase in product prices on the back of high crude oil prices.
"Segment Revenues for 1Q FY22 increased by 75.2 per cent Y-o-Y to Rs 103,212 crore ($ 13.9 billion) primarily on account of sharp increase in product prices on the back of higher Crude prices," said a company statement.
Operational flexibility and responsiveness to market dynamics continue to play a significant role in Reliance's O2C performance, it said
Further, weakness in domestic demand with onset of second wave of Covid during the quarter resulted in increased export placement, supporting high utilisation rates across manufacturing facilities.
Total throughput increased from 17.8 MMT to 19.0 MMT on Y-o-Y basis. Cracker operating rates was at 95 per cent, marginally lower on scheduled shutdown of ROGC. Downstream margins continued to remain strong with product deltas near or above 5-year averages, it said.
RIL further said that its O2C business maintained its market share in domestic markets. In addition, O2C continues to strategically place its products in export markets.

--IANS rrb/sn/vd