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Reliance Industries Ltd announces Q2 FY19 results

Posted On: 2018-10-18 18:29:58

Reliance Industries Limited (RIL) today reported its financial performance for the quarter / half year ended 30th September, 2018.

Highlights of quarter's performance (Consolidated):

- Revenue increased by 54.5% to ₹ 156,291 crore ($ 21.6 billion)
- PBDIT increased by 24.9% to ₹ 22,359 crore ($ 3.1 billion)
- Profit Before Tax increased by 16.4% to ₹ 13,198 crore ($ 1.8 billion)
- Cash Profit increased by 17.8% to ₹ 15,510 crore ($ 2.1 billion)
- Net Profit increased by 17.4% to ₹ 9,516 crore ($ 1.3 billion)

Highlights of quarter's performance (Standalone):

- Revenue increased by 37.1% to ₹ 103,086 crore ($ 14.2 billion)
- Exports increased by 45.5% to ₹ 60,460 crore ($ 8.3 billion)
- PBDIT increased by 12.4% to ₹ 16,904 crore ($ 2.3 billion)
- Profit Before Tax increased by 2.5% to ₹ 11,742 crore ($ 1.6 billion)
- Cash Profit increased by 6.0% to ₹ 12,114 crore ($ 1.7 billion)
- Net Profit increased by 7.2% to ₹ 8,859 crore ($ 1.2 billion)
- Gross Refining Margin (GRM) of $ 9.5/bbl for the quarter

Corporate Highlights for Q2 FY19

- Reliance announced a 5 year partnership with India's leading broadcaster, Star India to make all televised India-cricket matches available to users of JioTV in India.

- Post operationalization of Jio Payments Bank (a 70:30 JV between RIL and SBI), Jio and SBI announced deepening their partnership to bring next generation bilateral frictionless experience with exclusive digital Banking, Payments and Commerce journeys for their customers.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "Our Company delivered robust operating and financial results for the quarter despite macro headwinds, with strong growth in earnings on Y-o-Y basis. Our integrated refining and petrochemicals business generated strong cash flows in a period of heightened volatility in commodity and currency markets. Our world-class petrochemicals assets contributed record earnings; endorsing benefits of diversified feedstock, integration and superior product portfolio. Use of ethane feedstock at Nagothane cracker from this quarter has further enhanced feedstock optionality.

Our commitment to create consumer value is gathering momentum, with the robust scale-up of Indiacentric consumer facing businesses. The financial performance of both Retail and Jio reflect the benefits of scale, technology and operational efficiencies. Retail business EBITDA has grown three fold on Y-o-Y basis whereas Reliance Jio EBITDA has grown nearly 2.5 times. Jio has now crossed 250 million subscriber milestone and continues to be the largest mobile data carrier in the world."

Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1148.9 as compared to the previous close of Rs. 1163.65. The total number of shares traded during the day was 1452993 in over 15094 trades.

The stock hit an intraday high of Rs. 1180.95 and intraday low of 1141. The net turnover during the day was Rs. 1697455832.


Source: Equity Bulls

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