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Reliance Industries Limited (RIL) is a private sector enterprise in India, with businesses in the energy and materials value chain. The Company has operations that span from the exploration and production of oil and gas to the manufacture of petroleum products, polyester products, polyester intermediates, plastics, polymer intermediates, chemicals, and synthetic textiles and fabrics. The Company is organized into four business segments: Petroleum Refining and Marketing business; Petrochemicals business; Oil and Gas Exploration and Production business, and Others. Main subsidiaries include Reliance Petroleum Limited and Reliance Retail Limited. In February 2007, RIL spun off its exploration business. In September 2007, the Company acquired a majority stake in east African oil retailer, Gulf Africa Petroleum Corp. Effective September 5, 2007, Indian Petrochemicals Corp. Ltd. amalgamated with RIL.Â
For the fiscal year ended 31 March 2008, Reliance Industries Limited’s revenues increased 21% to 1.37B. Net income increased 62% to RS195.68B. revenue reflects an increase in sales from petrochemicals and refining segment. Net income also reflects an increase in other income, a decrease in wealth tax, lower debentures interest, a decrease in other financial charges and decreased loss on sale of discarding of fixed assets.