Reliance Industries is trading higher by 2% at Rs 887 in early morning deals on BSE after reporting better than expected 1.5% year-on-year (yoy) growth in net profit at Rs 5,490 crore for the second quarter ended September 2013 (Q2).
Net sales however grew 14.8% yoy at Rs 103,758 crore mainly on back of higher petrochemical sales and refining segment sales.
Analyst an average had expected profit of Rs 5,437 crore and net sales of Rs 98,075 crore for the quarter.
The company’s EBITDA was however flat yoy at Rs 7,849 crore on account of lower profits from refining and oil and Gas segments.
Gross refining margins (GRMs) stood at US$7.7/bbl in Q2FY2014 (US$9.5/bbl in Q2FY2013 and US$8.4/bbl in Q1FY2014).
The stock opened at Rs 896 and hit a high of Rs 899 on BSE. A combined around 200,000 shares change hands on the counter till 0917 hours on BSE and NSE.
Net sales however grew 14.8% yoy at Rs 103,758 crore mainly on back of higher petrochemical sales and refining segment sales.
Analyst an average had expected profit of Rs 5,437 crore and net sales of Rs 98,075 crore for the quarter.
The company’s EBITDA was however flat yoy at Rs 7,849 crore on account of lower profits from refining and oil and Gas segments.
Gross refining margins (GRMs) stood at US$7.7/bbl in Q2FY2014 (US$9.5/bbl in Q2FY2013 and US$8.4/bbl in Q1FY2014).
The stock opened at Rs 896 and hit a high of Rs 899 on BSE. A combined around 200,000 shares change hands on the counter till 0917 hours on BSE and NSE.
