Reliance Industries rose 0.72% to Rs 965.65 at 9:21 IST on BSE after net profit rose 0.8% to Rs 5631 crore on 12.9% growth in turnover to Rs 97807 crore in Q4 March 2014 over Q4 March 2013.
The Q4 result was announced on Friday, 18 April 2014. The stock market was closed on that day, on account of Good Friday.
Meanwhile, the S&P BSE Sensex was up 93.23 points or 0.41% at 22,722.07.
On BSE, so far 45,000 shares were traded in the counter as against average daily volume of 3.80 lakh shares in the past two weeks.
The stock hit a high of Rs 970 and a low of Rs 963 so far during the day.
Reliance Industries (RIL)'s non-operational income dropped 9.22% to Rs 2036 crore in Q4 March 2014 over Q4 March 2013.
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RIL's net profit rose 2.2% to Rs 5631 crore on 8.1% decline in turnover to Rs 97807 crore in Q4 March 2014 over Q3 December 2013. RIL's non-operational income dropped 11.67% to Rs 2036 crore in Q4 March 2014 over Q3 December 2013.
RIL's gross refining margin (GRM) dropped to $9.3 a barrel in Q4 March 2014, from $10.1 a barrel in Q4 March 2013. The GRM, however, rose on sequential basis from $7.6 a barrel in Q3 December 2013.
RIL's net profit rose 4.7% to a record Rs 21984 crore on 8.1% growth in turnover to a record Rs 401302 crore in the year ended 31 March 2014 (FY 2014) over the year ended 31 March 2013 (FY 2013). Non-operational income rose 11.72% to Rs 8936 crore in FY 2014 over FY 2013. RIL said that the increase in non-operational income in FY 2014 was mainly on account of higher liquid investments.
The company's outstanding debt as on 31 March 2014 was Rs 89968 crore, higher than Rs 72427 crore as on 31 March 2013. RIL had cash and cash equivalents of Rs 88190 crore as on 31 March 2014. These were in bank deposits, mutual funds, CDs and Government securities/bonds.
The net addition to fixed assets for the year ended 31 March 2014 was Rs 35210 crore including exchange rate difference capitalization. Capital expenditure was principally on account of ongoing expansions projects in the petrochemicals and refining business at Jamnagar, Dahej, Silvassa and Hazira, RIL said in a statement.
RIL's consolidated net profit rose 7.7% to Rs 22493 crore on 9.3% growth in revenue to Rs 446339 crore in FY 2014 over FY 2013.
Commenting on the company's financial performance, Mukesh D. Ambani, Chairman and Managing Director, RIL said: "FY 2013-14 was a satisfying year for RIL. Refining business delivered the highest ever profits with a sharp recovery in GRMs towards the end of the year. Petrochemical earnings grew sharply with margin expansion across polymers and downstream polyester products. While we continue to face technical challenges in growing domestic upstream production, the US shale gas business grew significantly during the year and has become a material contributor to our earnings. Retail business has turned around and is now India's largest retail chain. We have also accelerated efforts to roll-out our state-of-the-art 4G services across the country which will add an exciting new dimension to our consumer facing service offerings".
Meanwhile, RIL before market hours today, 21 April 2014 said that Reliance Jio Infocomm (Reliance Jio) and ATC India, one of the leading independent tower companies in India, today, 21 April 2014 signed a tower sharing agreement.
Under the agreement, Reliance Jio would utilize the telecom tower infrastructure of ATC India to launch its services across the country.
Sanjay Mashruwala, Managing Director, Reliance Jio said, "We at Reliance Jio, want to provide innovative and empowering products, services and content to every Indian. To this end, we are committed to creating a cutting edge network for high speed 4G. Our relationship with ATC will accelerate the rollout of these services across India".
"There is considerable pent up demand for data and 40 has tremendous growth potential. We, at ATC India, are delighted to offer our countrywide network infrastructure to help Reliance Jio in its aggressive nationwide roll-out. This master contract recognizes ATC's high level of customer service and operational efficiency. We believe this will strengthen our foothold as the leading independent tower company in India", said ATC's Chief Operating Officer, B. Ramanand.
Reliance Jio, subsidiary of Reliance Industries (RIL), India's largest private sector company, is the first telecom operator to hold pan India Unified License.
ATC India Tower Corporation is one of the leading independent passive telecom infrastructure providers in India and is a wholly owned subsidiary of American Tower Corporation. ATC has a portfolio of 11,000 towers in India.
Separately, RIL before market hours today, 21 April 2014 said that Relflex Elastomers - Synthetic Rubber Business Group of RIL, inaugurated a state-of-the-art Elastomers Customer Support Center (ECSC) at its Petrochemicals Complex in Vadodara.
This initiative is in line with Reliance's endeavor to become not only a significant synthetic rubber supplier but also to provide intangible technical support to its customers and play a catalytic role in helping them grow their business, increase value additions and reduce import dependence, the company said in a statement.
Relflex ECSC would serve as a springboard for mutual collaborative efforts, value additions and joint product development between Relflex Elastomers and its customers. The facility will service tyre as well non tyre industry, RIL said in a statement.
Currently, Reliance is producing 80 KTA PBR in Vadodara, Gujarat. An additional 40 KTA of PBR is under commissioning at Hazira in Gujarat and would start delivering this additional volume to the user industry by the end of this month, RIL said. With this new capacity, Reliance will have a unique advantage of being a producer with a capability to produce 3 different catalysts based PBR i.e. Nickel, Cobalt and Neodymium to cater varied needs of downstream industry, RIL said in a statement.
In addition, Reliance is also coming up with a 150 KTA emulsion SBR plant which would be capable of producing both oil extended and non-oil grades. The plant is expected to start by end of May 2014, RIL said in a statement. RIL also has a JV with SIBUR, Russia for making world-class Butyl rubber in India. The Butyl rubber plant is coming up in Jamnagar and would have a capacity to produce 100 KTA. It is expected to start by 2015 end, RIL said in a statement.
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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