Reliance Industries fell 0.54% to Rs 1,082.60 at 09:18 IST on BSE after consolidated net profit fell 22.9% to Rs 7206 crore on 9.6% increase in turnover to Rs 81651 crore in Q2 September 2016 over Q2 September 2015.
The result was announced after market hours yesterday, 20 October 2016.Meanwhile, the BSE Sensex was down 83.28 points, or 0.3%, to 28,046.56
On BSE, so far 66,000 shares were traded in the counter, compared with average daily volume of 4.24 lakh shares in the past one quarter. The stock hit a high of Rs 1,099 and a low of Rs 1,070.75 so far during the day. The stock hit a 52-week high of Rs 1,128.90 on 26 September 2016. The stock hit a 52-week low of Rs 888.50 on 12 February 2016.
The large-cap company has equity capital of Rs 3243.25 crore. Face value per share is Rs 10.
Reliance Industries (RIL) said its turnover increased primarily on account of increase in volumes in refining, petrochemical and retail businesses. RIL's consolidated profit before depreciation, interest, and taxes (PBDIT) rose 24.8% to Rs 13551 crore in Q2 September 2016 over Q2 September 2015.
RIL's net profit rose 17.91% to Rs 7704 crore on 0.64% increase in total income to Rs 66624 crore in Q2 September 2016 over Q2 September 2015. Gross Refining Margins (GRM) stood at $10.10 per barrel in Q2 September 2016, a tad lower than $10.60 per barrel in Q2 September 2015.
RIL's revenue from the refining and marketing segment decreased by 0.4% to Rs 60527 crore in Q2 September 2016 over Q2 September 2015. Segment earnings before interest and taxes (EBIT) rose 9.7% to Rs 5975 crore in Q2 September 2016 over Q2 September 2015, aided by stronger volumes and yield shifts to capture higher margins.
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Revenue from the petrochemicals segment increased by 5.6% to Rs 22422 crore in Q2 September 2016 over Q2 September 2015, primarily due to increase in volumes of fiber intermediates and polyester products.
Revenues for organized retail business grew by 63% to Rs 8079 crore in Q2 September 2016 over Q2 September 2015. The increase in turnover was led by growth in digital, fashion & lifestyle and petroleum products. During the quarter, Reliance Retail added 59 stores across various store concepts and strengthened its distribution network for consumer electronics. As on 30th September 2016, Reliance Retail operated 3,442 stores across 679 cities with an area of over 13 million square feet.
Commenting on the results, Mukesh D. Ambani, chairman and managing director, RIL said that the company has achieved outstanding second quarter results with strong refining business performance and record petrochemicals segment earnings. Refining business sustained high profitability in a tough environment highlighting the company's exceptional refining assets, dynamic response to market trends and robust operations. Petrochemicals segment gained significantly from higher volumes, integration and supportive product margins. RIL's projects in the hydrocarbon chain are at advanced stages of mechanical completion and precommissioning activities. These projects will further strengthen the company's position as a leading operator in the energy and materials businesses. RIL is delighted and humbled by the enthusiastic adoption of Jio by India. Jio is built to empower every Indian with the power of data.
RIL's outstanding debt as on 30 September 2016 was Rs 189132 crore compared to Rs 180388 crore as on 31 March 2016.
Cash and cash equivalents as on 30 September 2016 were at Rs 82533 crore compared to Rs 89966 crore as on 31 March 2016. These were in bank deposits, mutual funds, CDs and Government Bonds and other marketable securities.
Separately, RIL announced after market hours yesterday, 20 October 2016 that Reliance Jio Infocomm (RJIL) has received communication from Telecom Regulatory Authority of India (TRAI) stating that the tariff plans offered by it are fully compliant with regulatory norms of IUC compliance, non-predatory and non-discriminatory. This clearly establishes the fact that all the tariffs offered by RJIL are in compliance with the prevailing regulations, RJIL said.
RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.
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