INSUBCONTINENT EXCLUSIVE:
MUMBAI: Reliance Industries reported a 9.8% rise in quarterly net profit as the booming petrochemicals business along with the rapidly
growing retail and digital ventures outweighed the impact of sharp contraction in global refining margins and higher finance
cost.
Consolidated net profit for the March quarter rose to ?10,362 crore while revenue rose 19.4% to ?1,54,110 crore from a year ago
For fiscal 2018-19, net profit rose 13.1% to ?39,588 crore while revenue increased 44.6% to ?622,809 crore, the company said in a
The annual revenue and EBIT of digital services and the retail business almost doubled.
The share of consumer businesses in Ebitda has
prices and weak margins on naphtha
Gross refining margins, or the money made from processing crude oil and selling fuels, fell to $8.2 per barrel during the quarter from $11 a
standalone net profit, which does not include rapidly growing digital and retail ventures, fell 1.6% year-on-year to ?8,556 crore.
Analysts
consolidated balance sheet would act as key re-rating catalyst for the stock
retail revenue crossed the ?1,00,000 crore mark, while quarterly revenue rose 51.6% to ?36,663 crore
It said near-term headwinds would impact global chemical industry but petrochemicals would continue to grow above global GDP despite
company said the outlook for gross refining margins is stable
recording strong sales growth
Year-on-year volume growth in diesel and petrol was 16% and 21%, significantly higher than industry growth of 3% and 9%, it said
Its gas production in the KG Basin fell 58% but development of new fields is progressing as planned
corresponding period of the previous year
from ?2,566 crore in corresponding period of the previous year
said.
Outstanding debt as on March 31 was ?2,87,505 crore, up from ?2,18,763 crore a year ago
Cash and cash equivalents rose to ?1,33,027 crore from ?78,063 crore over the same period
