Reliance Industries' (RIL) consolidated net profit including exceptional items rose 38.7% to Rs 7290 crore on 23.9% decline in revenue to Rs 73341 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 19 January 2016.
RIL attributed the decline in top line during the quarter to fall in benchmark (Brent) oil price. Exports from India operations declined 37.5% to Rs 36564 crore in Q3 December 2015 over Q3 December 2014 due to lower product prices in line with lower feedstock prices, the company said in a statement.
RIL's standalone gross refining margins (GRM) increased to a seven-year high at $11.5 per barrel in Q3 December 2015 from $7.3 a barrel in Q3 December 2014. Strong gasoline and naptha cracks, seasonal rebound in middle distillates cracks, robust demand growth and sourcing of advantageous crude helped boost refining margins, RIL said in a statement.
RIL's Chairman and Managing Director Mukesh D. Ambani said that the benefits of low crude oil and energy prices for the company's downstream businesses cleary outweighed the impact of these factors on its upstream segment, reflecting in the record earnings for the quarter.
RIL's outstanding debt as on 31 December 2015 was Rs 178077 crore compared to Rs 160860 crore as on 31 March 2015. Cash and cash equivalents as on 31 December 2015 were at Rs 91736 crore.
UltraTech Cement and Axis Bank are scheduled to announce their Q3 December 2015 results today, 20 January 2016.
Indian Bank announced that its board of directors at a meeting held yesterday, 19 January 2016, accorded approval to the bank to raise Basel III compliant Tier II bonds for Rs 1100 crore in one or more tranches in the current or subsequent years based on the requirement. The announcement was made after market hours yesterday, 19 January 2016.
Dhanlaxmi Bank said that its board of directors will meet on 29 January 2016, to inter- alia, consider the proposal for raising further equity shares on preferential allotment basis and seek shareholders' approval for the same. The announcement was made after market hours yesterday, 19 January 2016.
BASF India reported net loss of Rs 106.38 crore in Q3 December 2015, higher than net loss of Rs 39.59 crore in Q3 December 2014. Total income from operations (net) rose 15.76% to Rs 1131.70 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 19 January 2016.
Deep Industries' net profit rose 139.31% to Rs 13.33 crore on 102.03% growth in total income from operations (net) to Rs 52.69 crore in Q3 December 2015 over Q3 December 2014. The result was announced after market hours yesterday, 19 January 2016.
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