Reliance Industries Limited (RIL) today reported its financial performance for the quarter / half-year ended 30th September, 2019.
HIGHLIGHTS OF QUARTER'S PERFORMANCE (CONSOLIDATED - RIL)
- 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)
For the quarter ended 30th September 2019, RIL achieved revenue of Rs. 163,854 crore ($23.1 billion), an increase of 4.8% as compared to Rs. 156,291 crore in the corresponding period of the previous year. Increase in revenue is primarily on account of robust growth in Retail & Digital Services businesses which grew by 27% and 43%, respectively. This was partially offset by decrease in Refining and Petrochemicals segment revenue with 17.7% fall in Brent crude price.
Exports (including deemed exports) from RIL's India operations were lower by 12.1% at Rs. 53,161 crore ($ 7.5 billion) as against Rs. 60,460 crore in the corresponding period of the previous year primarily due to lower price realization for refining and petrochemical products and emphasis in domestic placement.
Other expenditure increased by 22.2% to Rs. 22,993 crore ($ 3.2 billion) as against Rs. 18,809 crore in corresponding period of the previous year primarily due to higher network operating expenses and regulatory charges.
Segment EBITDA increased by 7.1% to Rs. 23,169 crore ($ 3.3 billion) from Rs. 21,641 crore in the corresponding period of the previous year. Robust growth in contribution from Retail up 67% Y-o-Y and Digital services up 48% Y-o-Y led to increase in segment EBITDA.
Depreciation (including depletion and amortization) was at Rs. 5,315 crore ($ 750 million) as compared to Rs. 5,229 crore in corresponding period of the previous year.
Finance cost was at Rs. 5,450 crore ($ 769 million) as against Rs. 3,932 crore in corresponding period of the previous year. This increase is primarily on account of currency depreciation and higher loan balances.
Profit after tax was higher by 18.3% at Rs. 11,262 crore ($ 1.6 billion) as against Rs. 9,516 crore in the corresponding period of the previous year.
Basic earnings per share (EPS) for the quarter ended 30th September 2019 was Rs. 18.6 as against Rs. 16.1 in the corresponding period of the previous year.
Outstanding debt as on 30th September 2019 was Rs. 291,982 crore ($ 41.2 billion) compared to Rs. 287,505 crore as on 31st March, 2019.
Cash and cash equivalents as on 30th September, 2019 were at Rs. 134,746 crore ($ 19.0 billion) compared to Rs. 133,027 crore as on 31st March, 2019.
The capital expenditure for the quarter ended 30th September, 2019 was Rs. 19,095 crore ($ 2.7 billion) including exchange rate difference.
RIL retained its domestic credit ratings of "CRISIL AAA/Stable" from CRISIL and "IND AAA/Stable" from India Ratings and an investment grade rating for its international debt from Moody's as "Baa2" and "BBB+" from S&P.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "The Company has reported record net profit for the quarter. 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 petrochemicals volumes. Our O2C business, with new partnerships, is best placed to pursue growth and substantial value creation.
Continuing growth trends in our retail business is heartening. Guided by our obsession to provide the best value for our customers, Reliance Retail delivered robust performance with record quarterly revenues and EBITDA. Our digital services business is recognized for having the nation's widest 4G wireless network. As an outcome of our team's relentless efforts, Jio has become India's largest mobility services provider. Jio today also has the highest market share in terms of 4G subscriber base and 4G data traffic in India. We are now executing yet another game changing initiative with the largest ever roll out of broadband services to home and enterprises through JioFiber. As always, we are committed to bring to Indian consumers more world-class products and services and providing them unique value propositions through innovation and technology."
Shares of RELIANCE INDUSTRIES LTD. was last trading in BSE at Rs.1415.3 as compared to the previous close of Rs. 1396.15. The total number of shares traded during the day was 629451 in over 20580 trades.
The stock hit an intraday high of Rs. 1428 and intraday low of 1399.7. The net turnover during the day was Rs. 891730305.