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RIL’s revenue from petrochemicals business increased to 19.70 percent in the second quarter of FY2020 on a sequential basis

Reliance Industries Limited reported their 2nd quarter result yesterday. The company reported its highest-ever quarterly profit at INR 11,262 crore.  Despite the slowdown in the Indian market, and fall in prices of polymers and fibers intermediates, The EBIT of petrochemical business has slightly improved its performance in the sequential quarters. GRM has also improved and reached at USD9.4 per barrel in comparison to USD8.1 per barrel in 1stquarter.The company produced around 10 million metric tonnes of petrochemicals. The company is also started a project at Jamnagar refinery that will convert crude oil into petrochemicals and Jet fuels only.