India’s Reliance Industries Limited, active in oil and gas, petrochemicals (polyester, polymers, and intermediates), textile and other sectors, has reported unaudited results for the first nine months ended December 31, 2005.

Turnover increased to Rs62,676 crores ($13,913 million) against Rs53,324 crores for the corresponding period in the prior year, an increase of 18%; operating profit increased to Rs10,849 crores ($2,408 million) against Rs10,239 crores, an increase of 6%; and net profit rose 24% to Rs6,567 crores ($1,458 million) from Rs5,280 crores in the corresponding period a year earlier.

According to the company – the world’s largest producer of polyester and yarn – the polyester sector improved as the price of PTA and MEG declined compared with the previous year. Improvement in cotton prices worldwide is expected to result in an increase in polyester price and demand. Domestic demand for both polyester and polymer products remained robust during the period under review, with polyester demand registering a growth of 10% and polymer growth of 21%, compared to corresponding previous period.