INSUBCONTINENT EXCLUSIVE:
Mukesh Ambani-led Reliance Industries on Friday beat Street estimates to report an 18.32 per cent year-on-year (YoY) rise in September
quarter profit at Rs 11,262 crore on robust growth in telecom and retail verticals.
"The company has reported record net profit for the
quarter," said Mukesh Ambani, Chairman and Managing Director.
Analysts in an ET NOW poll had estimated Rs 11,000 crore profit for the
user (Arpu) of Rs 120.
Gross refining margin (GRM) for the quarter stood at $9.40 per barrel against $9.5 per barrel reported for the same
period last year.
Key Highlights (Consolidated Numbers)Revenue increased by 4.8% to Rs 163,854 crore ($ 23.1 billion)PBDIT increased by
15.5% to Rs 25,820 crore ($ 3.6 billion)Profit Before Tax increased by 14.1% to Rs 15,055 crore ($ 2.1 billion)Cash Profit increased by
18.0% to Rs 18,305 crore ($ 2.6 billion)Net Profit increased by 18.3% to Rs 11,262 crore ($ 1.6 billion)Basic earnings per share (EPS) for
the overall group rose to Rs 18.59 from Rs 16.06 reported for the corresponding period of previous year.
Ahead of Q2 earnings, shares of the
company settled 1.37 per cent higher at Rs 1415.30, , even as BSE Sensex closed 246.32 points, or 0.63 per cent, up at 39,298.
During the
day, RIL added another feather to its cap by becoming the first domestic firm to hit the Rs 9 lakh crore market cap in intraday trade
However, the stock ended the day with a market-cap Rs 8.97 crore.
"These excellent results reflect benefits of our integrated oil to
chemicals (O2C) value chain and the rapid scale-up of our consumer businesses
During this quarter, our O2C businesses gained from favourable fuel margins environment, feedstock sourcing flexibility and higher
11.90 per cent YoY for the quarter to Rs 38,538 crore, reflecting a drop in the prices of petrochemical products
Domestic production was lower at 11.9 BCFe, down 22 per cent YoY, while production of US shale operations fell 25 per cent to 17.8 BCFe
Segment EBIT increased 63.60 per cent YoY to Rs 2,035 crore
The area under operation jumped from 19.50 million sq ft in Q2FY19 to 24.50 million sq ft in Q2FY20.
During the quarter, Reliance Retail
added 337 stores, taking the total store count to 10,901.
MediaRevenue from the media business declined 5.10 per cent YoY to Rs 1,174 crore
subscription income post implementation of new tariff order (NTO) was offset by a weak advertising environment
The news portfolio solidified its leadership with a 10.9 per cent viewership share
RIL said in a release.
Revenue from digital services jumped 42.70 per cent YoY to Rs 15,619 crore in Q2FY20.
The group's outstanding debt
as on September 30, 2019 stood at Rs 2,91,982 crore compared with Rs 2,87,505 crore as of March 31
Cash and cash equivalents totalled Rs 1,34,746 crore compared with Rs 1,33,027 crore as of March 31, 2019.
