Reliance Industries Ltd has posted a 27 per cent rise in net profit at Rs 1,374 crore (Rs 13.74 billion) in the third quarter ended December 31, 2003 on a turnover of Rs 18,864 crore (Rs 188.64 billion), up 21 per cent from that posted during the same period of the previous fiscal.

The company's cash profit was up 20 per cent at Rs 2,335 crore (Rs 23.35 billion), while consolidated net profit stood at Rs 1,540 crore (Rs 15.40 billion), up 40 per cent, Reliance Vice Chairman Anil Ambani said in Mumbai on Thursday.

The company posted a 28 per cent increase in exports at Rs 2,918 crore (Rs 29.18 billion) during the quarter under review, he said.

For the nine-months ended December 31, the company posted a 28 per cent increase in net profit at Rs 3,848 crore (Rs 38.48 billion) on a total income of Rs 5,466 crore (Rs 54.66 billion), up by 14 per cent compared to the same period of the previous fiscal.

The company's consolidated net profit rose 31 per cent to Rs 3,944 crore (Rs 39.44 billion) while cash profit was up 17 per cent at Rs 6,550 crore (Rs 65.50 billion) during the nine-month period.

It posted a 42 per cent increase in exports at Rs 10,755 crore (Rs 107.55 billion) for the nine months (Apr-Dec 2003) under review, he said.