For the nine-month period ended December 2000, the net profit crossed the Rs 1,000-crore mark to Rs 1,167 crore on sales of Rs 23,457 crore - the highest ever by any private sector company for a nine-month period.

Addressing press persons and analysts here, RPL managing director Anil Ambani said: "This performance has been achieved as a result of RPL's unmatched global competitiveness and its high level of capital and operating productivity." He said the company's focus was now on further improving operating and business efficiencies. Operating profit during the nine-month period was Rs 2,363 crore while cash profit stood at Rs 1,636 crore. Other income stood at Rs 154 crore. Depreciation was Rs 469 crore during the nine months. The company's Jamnagar refinery in Gujarat operated at 101 per cent capacity utilisation in the third quarter and at 96 per cent capacity during the nine months.

"Over 100 per cent capacity utilisation in the third quarter compares favourably with the average rate for other Indian refineries at about 93 per cent during the same period and also with other regional operating rates with North America at 91 per cent, Europe 88 per cent and Asia-Pacific 99 per cent," Mr Ambani said.