Reliance Industries rose 1.77% to Rs 1,030.50 at 9:30 IST on BSE after consolidated net profit rose 18.1% to Rs 7113 crore on 13.4% decline in turnover to Rs 71451 crore in Q1 June 2016 over Q1 June 2015.
The result was announced after market hours on Friday, 15 July 2016.Meanwhile, the S&P BSE Sensex was up 136.95 points or 0.49% at 27,973.45.
On BSE, so far 1.02 lakh shares were traded in the counter as against average daily volume of 2.56 lakh shares in the past one quarter. The stock hit a high of Rs 1,038.15 and a low of Rs 1,025.10 so far during the day.
The large-cap company has equity capital of Rs 3242.71 crore. Face value per share is Rs 10.
Reliance Industries (RIL)'s earnings before interest and tax (EBIT) margin rose by 2.41% to 10.7% in Q1 June 2016 from 8.29% in Q1 June 2015. Decline in revenue was led by the 26% decline in benchmark Brent crude oil price which averaged at $45.6 per barrel in Q1 June 2016 as compared to $61.9 per barrel in Q1 June 2015. Impact of lower prices was partially offset by higher volumes in refining and petrochemicals segments. Gross refining margin rose to $11.5 per barrel in Q1 June 2016 from $10.4 per barrel in Q1 June 2015. Profit before depreciation, interest and tax (PBDIT) increased by 16.7% to Rs 13589 crore in Q1 June 2016 over Q1 June 2015. Strong operating performance from refining and petrochemicals businesses coupled with favorable exchange rate movement enhanced the operating profit. This was partially offset by lower contribution from Oil & Gas business due to lower volumes and weak price environment. Other income was higher at Rs 2378 crore in Q1 June 2016 as against Rs 1584 crore in Q1 June 2015 due to higher interest income and profit on sale of investments.
Reliance Jio Infocomm (RJIL), a subsidiary of RIL, is rolling out a state-of-the-art pan India digital services business. The test program of RJIL's digital services will be progressively upgraded into commercial operations in coming months.
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RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.
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