Reliance Industries rose 1.51% to Rs 972.30 at 9:25 IST on BSE after the company's consolidated net profit rose 1.7% to a record Rs 5972 crore in Q2 September 2014 over Q2 September 2013.
The company announced Q2 results after market hours on Monday, 13 October 2014.
Meanwhile, the BSE Sensex was up 151.36 points, or 0.57%, to 26,535.43.
On BSE, so far 33,432 shares were traded in the counter, compared with an average volume of 2.96 lakh shares in the past one quarter.
The stock hit a high of Rs 980 and a low of Rs 969.30 so far during the day. The stock hit a 52-week high of Rs 1142.50 on 16 May 2014. The stock hit a 52-week low of Rs 794 on 28 February 2014.
Reliance Industries (RIL)'s turnover declined 4.3% to Rs 113396 crore in Q2 September 2014 over Q2 September 2013. RIL attributed the decline in turnover to lower crude prices and decline in volumes in the refining and oil & gas businesses. RIL's other income or non-operational income dropped 14.36% to Rs 2009 crore in Q2 September 2014 over Q2 September 2013. RIL said the decline in non-operational income was primarily on account of lower investible surplus.
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RIL's net profit rose 0.3% to a record Rs 5972 crore on 5.1% growth in turnover to Rs 113396 crore in Q2 September 2014 over Q1 June 2014. Other income rose 1.77% to Rs 2009 crore in Q2 September 2014 over Q1 June 2014.
RIL's gross refining margins (GRM) edged up to $8.3 a barrel in Q2 September 2014, from $7.7 a barrel in Q2 September 2013. The GRM was lower than $8.7 a barrel in Q1 June 2014.
The net addition to RIL's fixed assets for the half year ended 30 September 2014 was Rs 44895 crore, including exchange rate difference capitalization. Capital expenditure was principally on account of ongoing expansion projects in the petrochemicals and refining business at Jamnagar, Dahej and Hazira, Broad band Access and US Shale gas projects, RIL said.
RIL's activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail and broadband services.
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