Q . Reliance Media Release Nee ies Li cc ~ nuary 2009 REVENUE AND EARNINGS GROWTH IN CHALLENGING TIMES RPL REFINERY STARTED ON SCHEDULE KG D6 OIL PRODUCTION COMMENGED IN SEPTEMBER 2008 KG D6 Gas PRODUCTION SCHEDULED IN THIS QUARTER Reliance industries Limited (RIL) today reported its financial performance for the nine months period ended 31° December, 2008. Highlights of the un-audited financial results as compared to the previous period are: ‘+ Tumover increased by 21.0% to Rs. 121,698 crore (US$ 25.0 billion) = Exports increased by 27.5% to Rs. 75,804 crore (US$ 15.6 billion) «= PBDIT increased by 6.2% to Rs. 18,998 crore (USS 3.9 billion) + Cash Profit without exceptional items increased by 4.0% to Rs. 16,140 crore (US$ 3.3 billion) «Not Profit without exceptional items increased by 3.4% to Rs. 11,733 crore (US$ 2.4 billion) Key BusiNess DRIVERS = Increase in prices accounted for 22% of the growth in revenues with a 1% decrease in volume, Exports were higher by 27.5% at Rs. 75,804 crore (US$ 15.6 billion). * RIL share in Tapti block production was 1,005 MMSCM of natural gas and 65,200 tonnes of condensate, registering a growth of 46% and 43% respectively over the corresponding period of the previous year. RIL share in Panna-Mukta block production was 360 MMSCM of natural gas and 343,100 tonnes of crude a decrease of 20% in each as compared to the corresponding period of the previous year. The decrease in production at Panna-Mukta was due to a shutdown In June’08 in the PPA process platform. Registered mice: Corporate Communications Telephone + (+91 22) 2278 5803, 2278 5905, 2278 5000 Maker Chambers 1V Maer Charabers 1 Telefax: (49) 22)2278 5188 722, Nariman Point 9th Flog, Navman Point Boma cod] Gal com ‘Miamba 400 021, Ins Internet rwwieorn Page | of 12Q Reliance Media Release Industries Limited = RIL share in KG Dé block oil production was for the for the period under review. There is no crude oll production from 9" December'08 due to a rupture in a short pipe spool connected to the flare header in the FPSO. * The Jamnagar refinery processed 24.2 million tonnes of crude, a utilization rate of 98% as compared to 23.7 million tonnes of crude oil processed during the corresponding period of the previous year. Average refinery utilization was at 83.2% in North America, 83.6% in Europe and 82.0% in the Asia-Pacific region. + Revenue for the refining and marketing segment increased by 26% from Rs 72,057 crore to Rs 90,720 crore (USS 18.6 billion) mainly due to high product prices driven by high crude oil prices. Increase in prices accounted for 25% of growth in revenue while higher volumes accounted for 1%. Exports of refined products were at US$ 12.5 billion. This accounted for 16.2 million tonnes of product as compared to 16.4 million tonnes for the corresponding period of the previous year. ‘© Production of petrochemical products remained fiat at 14.5 million tonnes. © Revenue for the petrochemicals segment increased by 11% from Rs 38,880 crore to Rs 43,043 crore (US$ 8.8 billion) mainly due to high product prices driven by high crude oil and naphtha prices. Increase in prices accounted for 17% of growth in revenue with a 6% decrease in volume. + Consumption of raw materials and purchase of traded goods increased by 28% from Rs 69,445 crore to Rs 89,113 crore (US$ 18.3 billion) mainly on account of higher crude and naphtha prices. «The capital expenditure for the period was Rs. 18,109 crore (US$ 3.7 billion) primarily in oll and gas business. Registered mice: Corporate Cormmpunications Telephone + (#91 22)2278 3802, 2278 5905, 2278 5000 Maker Chanibers 17 Maker Chambers iV Telefax + (491 22)2278 5189 Sed Floor, 222, Nariman Point 9MFloor, Nesiman Point = E-mail ed @rileom ‘Mumbai 400024, Tada ‘Mime 800 025, Tnaia Iniemet © wrwstheom Page 20f 12Q Reliance Media Release COMMENTING ON THE RESULTS, MUKESH D. AMBANI, CMD, RELIANCE. INDUSTRIES LIMITED SAID: “This was one of the most challenging quarters for Reliance with volatility in prices and margins. Producers and consumers are coming to terms with slower global trade and economic outlook. Reliance performed commendably in this environment, with high operating rates. We also reached an important milestone in start up of the RPL refinery.” Key Business UPDATE CORPORATE + On 3" October 2008, RIL has allotted 12 crore equily shares of Rs. 10/- each, upon exercise of the rights attached to warrants issued on 12" April 2007. Consequent to the above allotment, the paid up equity capital of the company stands increased to Rs. 1,573.79 crore comprising of 157,37,87,556 fully paid up equity shares of Rs. 10/- each. = RiLhas cash and cash equivalents in excess of Rs. 28,500 crore (USS 5.9 billion). Over 95% of these are in fixed deposits / certificate of deposits with banks, RIL’s net debt is equivalent to approximately one year’s trailing PBDIT. ‘© RIL continues to be amongst the 30 fastest climbers in the 2008 list of Global Fortune 500 ‘Companies. RIL's new rankings across various parameters were as follows: Rank 206 based on Sales o Rank 103 based on Profits Registered OMee: Corporate Communications Telephone: (+91 22) 2278 9903, 2278 5905, 2278 $000 Maer Chambers 1V Maker Chambers V Telefax” | (+91 20)2278 5185 Jed For, 222, Nariman Point $th Fleer, Nariman Point = E-rasit sell.com Mumbat 400 021, Tada Mumba Iemet “www rileom Paze3 of 12