Reliance Industries Q2 profit rises 13% YoY to Rs 8,097 crore; Jio loss at Rs 271 crore
ETMarkets.com|
Updated: Oct 13, 2017, 05.49 PM IST
NEW DELHI: Oil-to-telecom behemoth Reliance Industries (RIL) on Friday reported 12.79 per cent year-on-year rise in consolidated net profit at Rs 8,097 crore for the second quarter ended September 30. It had posted a net profit of Rs 7,179 crore in the corresponding quarter last year.
An ET Now poll had predicted a profit of Rs 8,450 crore (standalone) for the quarter.
The company also said that its telecom unit Reliance Jio posted a loss of Rs 271 crore for the quarter.
Consolidated total income of the company climbed 15.89 per cent YoY to Rs 97,402 crore in Q2 against Rs 84,044 crore in the same quarter last year.
Gross refining margins (GRM) for the quarter stood at a nine-year high of $12 per barrel (bbl) against $10.1 per barrel last year. RIL’s GRM outperformed Singapore complex margins by $3.7/bbl.
EBIT margins of Reliance Industries during the quarter expanded to 17.7 per cent, which was highest in 10 years.
Commenting on the results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries said, “Our company reported another quarter of robust performance. I am delighted to share that this includes the financial performance of Reliance Jio which had a positive EBIT contribution in its first quarter of commercial operations.”
On a standalone basis, the company reported a net profit of Rs 8,265 crore, up 7.28 per cent for the quarter ended September 2017 against Rs 7,704 crore in the corresponding quarter last year.
Basic earnings per share (EPS) for the quarter ended September 30, 2017 stood at Rs 13.7 against Rs 12.2 in the corresponding period of the previous year.
Outstanding debt as on September 30, 2017 was Rs 2,14,145 crore compared with Rs 196,601 crore as on March 31, 2017.
Cash and cash equivalents stood at Rs 77,014 crore as of September 30, 2017 against Rs 77,226 crore in the same quarter last year.
For the second quarter ended September 30, 2017, revenue from the petrochemicals segment increased 24.9 per cent YoY to Rs 27,999 crore on higher volumes in the polyester chain and firm prices.
Petrochemicals segment EBIT was at a record level of Rs 4,960 crore supported by strong volume growth, higher margins and improved product mix with ethane cracking stabilising at Dahej and Hazira.
Shares of Reliance Industries settled 0.48 per cent up at Rs 876.70 ahead of the earnings announcement on Friday.
An ET Now poll had predicted a profit of Rs 8,450 crore (standalone) for the quarter.
The company also said that its telecom unit Reliance Jio posted a loss of Rs 271 crore for the quarter.
Consolidated total income of the company climbed 15.89 per cent YoY to Rs 97,402 crore in Q2 against Rs 84,044 crore in the same quarter last year.
Gross refining margins (GRM) for the quarter stood at a nine-year high of $12 per barrel (bbl) against $10.1 per barrel last year. RIL’s GRM outperformed Singapore complex margins by $3.7/bbl.
EBIT margins of Reliance Industries during the quarter expanded to 17.7 per cent, which was highest in 10 years.
Commenting on the results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries said, “Our company reported another quarter of robust performance. I am delighted to share that this includes the financial performance of Reliance Jio which had a positive EBIT contribution in its first quarter of commercial operations.”
On a standalone basis, the company reported a net profit of Rs 8,265 crore, up 7.28 per cent for the quarter ended September 2017 against Rs 7,704 crore in the corresponding quarter last year.
Basic earnings per share (EPS) for the quarter ended September 30, 2017 stood at Rs 13.7 against Rs 12.2 in the corresponding period of the previous year.
Outstanding debt as on September 30, 2017 was Rs 2,14,145 crore compared with Rs 196,601 crore as on March 31, 2017.
Cash and cash equivalents stood at Rs 77,014 crore as of September 30, 2017 against Rs 77,226 crore in the same quarter last year.
For the second quarter ended September 30, 2017, revenue from the petrochemicals segment increased 24.9 per cent YoY to Rs 27,999 crore on higher volumes in the polyester chain and firm prices.
Petrochemicals segment EBIT was at a record level of Rs 4,960 crore supported by strong volume growth, higher margins and improved product mix with ethane cracking stabilising at Dahej and Hazira.
Shares of Reliance Industries settled 0.48 per cent up at Rs 876.70 ahead of the earnings announcement on Friday.
