Reliance to boost profit

India's Reliance Industries Ltd expects to increase operating profit and naphtha exports as it switches to cheaper ethane at its petrochemical projects, a company executive said on Wednesday.

Reliance's annual naphtha exports will rise by 500,000 tonnes this fiscal year, said Vipul Shah, chief operating officer for petrochemicals at Reliance.

Asia is structurally short of naphtha and relies on the West and Middle East to fill most of the gaps.

Reliance, owner of the world's biggest refining complex and also a leading petrochemicals player, on average exports more than 200,000 tonnes of naphtha in a month.