Reliance Industries rose 0.58% to Rs 1,136.20 at 10:34 IST on BSE after consolidated net profit rose 4.47% to Rs 9485 crore on 50.58% rise in total income to Rs 130544 crore in Q1 June 2018 over Q1 June 2017.
The result was announced after market hours on Friday, 27 July 2018.On the BSE, 3.15 shares were traded in the counter so far compared with average daily volumes of 3.62 lakh shares in the past two weeks. The stock had hit a record high of Rs 1,157.55 in intraday trade today, 30 July 2018. The stock had hit a low of Rs 1,126.60 so far during the day. The stock hit a 52-week low of Rs 765 on 29 August 2017.
The large-cap company has equity capital of Rs 6336.51 crore. Face value per share is Rs 10.
Exports (including deemed exports) from RIL's India operations were higher by 41.5% at Rs 52501 crore ($ 7.7 billion) as against Rs 37111 crore in the corresponding period of the previous year due to higher volumes and product prices in petrochemical business and higher realization in refining business.
Operating profit before other income and depreciation increased by 64.6% to Rs 20661 crore ($3 billion) from Rs 12554 crore in the corresponding period of the previous year. Record operating performance was led by 33% volume growth and significant margin improvement in petrochemicals business. Exponential growth in Retail and Digital Services businesses also contributed significantly to higher operating profits.
The capital expenditure for the quarter ended 30 June 2018 was Rs 33267 crore ($ 4.9 billion) including exchange rate difference.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said financial results of Q1 June 2018 underscore the strength of the petrochemicals reinforced over the last investment cycle. Petrochemicals business generated record EBITDA with strong volumes and an upswing in polyester chain margins. Refining business performance remained steady despite the seasonal weakness in cracks. Continuing strength in global demand for oil products and implementation of more stringent environmental norms for marine fuels augurs well for refining business.
Seperately, RIL said that the company is in discussions to acquire 5% equity stake in VAKT Holdings (VHL) - UK, a closely held start up entity engaged in the technology space, for a sum not exceeding $5 million. The investment is subject to completion of due diligence and negotiation of definitive documentation.
The proposed strategic investment would accelerate Reliance''s digital journey, through active participation in an emerging and evolving, yet promising, block chain enabled technology solutions for energy markets
RIL is India's largest private sector company. The company's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.
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