MUMBAI: Reliance Industries Ltd logged $ 44.1 billion in export revenue and contributed 15.2 per cent to the nation's overall export kitty of $ 290 billion in the just-concluded fiscal, a senior company official said today.
"With $ 44.1 billion in exports last fiscal, our share in the country's overall exports last fiscal stands at 14-15 per cent, if we take the outward shipment numbers at under $ 300 billion," RILBSE -2.67 % Chief Financial Officer Alok Agarwal told reporters at the company headquarters while announcing the Q4 and annual earnings here this evening.
RIL reported a 15 per cent spike in exports to $ 44.1 billion (Rs 2,39,226 crore) from $ 37.48 billion last fiscal. This was 60 per cent of the company's overall revenue of $ 68.4 billion (Rs 3,71,119 crore) in FY13.
Agarwal attributed the spike in exports to the higher demand for diesel and petrol from Asia, particularly China, during the year.
"Rising demand from Asia, driven by China and other countries with low refining capacity like Indonesia, Vietnam, Australia and Singapore pushed our exports. The rising demand spiked prices, which in turn improved our export numbers," he said.
Due to the global headwinds, India's exports were on downhill in FY13 and are all set to miss the initial target of $ 350 billion. In FY12, the exports touched $ 306 billion, the highest ever.
RIL posted a massive 32 per cent jump in Q4 net profit at Rs 5,589, the biggest rise in almost three years, as strong margins in its oil refining business helped offset fall in natural gas production.
The better-than-estimated profit, the second consecutive quarter of increase after four quarters of decline, came on the back of rise in earnings from turning crude oil into petrol, diesel and other fuel products.
RIL Chairman and Managing Director Mukesh Ambani said "the growth in earnings was largely driven by strong and improved refining margins during the year."