Reliance Industries' (RIL) consolidated net profit rose 12.79% to Rs 8097 crore on 19.42% rise in total income to Rs 93812 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours on Friday, 13 October 2017.
Operating profit before other income and depreciation increased by 39.4% to Rs 15565 crore in Q2 September 2017 over Q2 September 2016. Strong operating performance was driven by the refining, petrochemicals, retail businesses and positive contribution from digital services starting from this quarter.
Gross refining margin (GRM) rose to $12 per barrel in Q2 September 2017 from $11.90 per barrel in Q1 June 2017 and $10.10 in Q2 September 2016.
The capital expenditure for the quarter ended 30 September 2017 was Rs 15653 crore including exchange rate difference capitalization. Capital expenditure was principally on account of ongoing projects in the petrochemicals and refining business at Jamnagar and digital services business.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries said the Q2 results reflect strong underlying fundamentals of refining and petrochemicals businesses. Sustained demand growth coupled with supply disruptions further tightened demand-supply balances globally during the quarter. Retail business has delivered broad based, sustainable and profitable growth through improved operational excellence.
Shares of Godrej Agrovet will debut on the bourses today, 16 October 2017. The company's initial public offer (IPO) received bids for 171.99 crore shares and was subscribed 95.41 times. The company issued shares at the top end of the Rs 450-460 per share price band of the IPO. The IPO opened on 4 October and closed on 6 October 2017.
Category wise, the qualified institutional buyers (QIBs) category was subscribed 150.96 times. The non institutional investors (NIIs) category was subscribed 236.04 times. The retail individual investors (RIIs) category was subscribed 7.67 times.
GRUH Finance's net profit rose 25.48% to Rs 77.77 crore on 12.69% rise in total income to Rs 414.05 crore in Q2 September 2017 over Q2 September 2016. The result was announced on Saturday, 14 October 2017.
IndusInd Bank announced that the board of directors of the bank and Bharat Financial Inclusion (BFIL) at their respective meeting held on Saturday, 14 October 2017, approved a merger of the two entities to create a stronger and more sustainable platform for financial inclusion. BFIL shareholders will receive 639 shares of IndusInd Bank for every 1,000 shares of BFIL. The announcement was made on Saturday, 14 October 2017.
Avenue Supermarts' net profit rose 65.17% to Rs 191.02 crore on 26.65% rise in total income to Rs 3529.48 crore in Q2 September 2017 over Q2 September 2016. The result was announced on Saturday, 14 October 2017.
Multi Commodity Exchange of India's consolidated net profit dropped 22.9% to Rs 29.15 crore on 4.25% fall in total income to Rs 91.54 crore in Q2 September 2017 over Q2 September 2016. The result was announced after market hours on Friday, 13 October 2017.
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