Petrochemical “Production meant for sale” for the quarter was 4.2 MMT with polyester production higher at 16% Q-o-Q.
Reliance Industries Limited (RIL) standalone revenue for the quarter was Rs. 71,454 crore ($9.8 billion) higher by 10.9% and net profit before exceptional item for the quarter was Rs. 8,744 crore ($1.2 billion) higher by 33.6%.
Segment Revenues for 3Q FY21 increased by 10.0% Q-o-Q to Rs. 83,838 crore primarily on account of higher volumes mainly in Transportation fuels, PTA and Polyester supported by improved product realization across Polymers, Intermediates and Polyester.
Segment EBITDA for 3QFY21 improved by 10.3% Q-o-Q to Rs. 9,756 crore primarily on account of higher product sales and shifting of product placement from exports to domestic market. On O2C basis, total throughput has increased from 16.8 MMT to 18.2 MMT on Q-o-Q basis due to improved product demand in Q3 and scheduled shutdown taken in Q2.
During the quarter, Polymers margins were at a record high while intermediate margins were sequentially better. Petrochemical “Production meant for sale” for the quarter was 4.2 MMT with polyester production higher at 16% Q-o-Q.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said, “At a time when the Indian economy is poised for a confident recovery, we at Reliance are humbled that we have been able to contribute to it with our Company’s impressive performance in the third quarter of FY21. We have delivered strong operational results during the quarter with a robust revival in O2C and Retail segments, and a steady growth in our Digital Services business."
"In line with this vision, our Oil-to-Chemicals (O2C) business has formally reorganised its reporting segments to reflect our new strategy and management matrix for this enterprise. The reorganised structure will facilitate holistic and agile decision making and enable us to pursue attractive new opportunities for growth, with strategic partnerships with the best and the biggest in this business globally," commented Ambani.
The O2C platform will increasingly move further downstream and become closer to customers. It will create planet- friendly and affordable energy and materials solutions to meet the growing needs of every sector of the Indian economy,” added Ambani.
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