Mumbai: India's largest private sector conglomerate Reliance Industries Ltd (RIL) has registered a substantial rise of 25.09 per cent in net profit at Rs 1,002 crore for the second quarter ended September 30 as compared to Rs 801 crore in the same period last year.

The net turnover for the period under review stood higher by 7.41 per cent at Rs 11,519 crore as against Rs 10,724 crore in the Q2 of FY'02, RIL said in a statement on October 31.

The company's other income for the quarter was, however, down by 21.53 per cent to Rs 204 crore over Rs 260 crore in the same period of the previous fiscal.

For the half-year ended September 30 the net profit was also up by 25 per cent at Rs 1,920 crore over Rs 1,536 crore and net turnover was marginally higher at Rs 22,169 crore as against Rs 21,830 crore in the FY'02.

The company had revalued its plant and machinery at Patalganga and Naroda in 1997-98 and consequently, there has been an additional depreciation charge of Rs 58 crore for H1'03 and an equivalent amount has been withdrawn from the general reserves, it said adding there was no impact on the profit for the period.

The paid-up share capital of RIL has increased to Rs 1.39 crore on allotment of shares on October 23, 2002 to the shareholders of erstwhile Reliance Petroleum Ltd, after the merger of the petroleum major with its parent, it said.

Attributing the company's performance to late patriarch Dhirubhai Ambani, chairman and managing director Mukesh Ambani said that the achievement was a tribute to the great vision, inspiration and dedication of the founder.

PTI