Reliance Industries hopes for Rs 10,000-crore capex in remaining part of FY'15

Reliance Industries, which today reported a 1.7% rise in net profit at Rs 5,972 crore for the three months to September, expects up to Rs 10,000 crore capital expenditure in the remaining part of this fiscal. "We have already invested Rs 30,000 crore in the second quarter, and Rs 15,000 crore in Q1. We hope our capex should be in the range of Rs 5,000-Rs 10,000 crore in the remaining part of the fiscal," Reliance Group chief financial officer Alok Agarwal told reporters here this evening while announcing the Q2 earnings.

At the AGM, group Chairman Mukesh Ambani had told shareholders that the country's largest private sector corporate would be investing Rs 1.8 trillion in capex over the next three years. RIL shares today closed 0.26% down on the BSE at Rs 957.85. The earning numbers were announced after the close of market hours. The RIL counter this year so far gained 7%, while the Sensex rallied more than 26% year-to-date.

Meanwhile, RIL reported a marginal 1.7% rise in post tax profit at Rs 5,972 crore, helped by strong growth in refining margins which neutralised slump in oil and gas. RIL, which operates the world's biggest oil refinery complex in Jamnagar, earned USD 8.3 for turning every barrel of crude oil into fuel in Q2 compared to USD 7.7 a barrel gross refining margin a year ago. The GRM, however, was lower than USD 8.7 per barrel in the previous April-June quarter.