Reliance Industries fell 1.65% to Rs 1,059.20 at 9:37 IST on BSE after consolidated net profit rose 3.6% to Rs 7506 crore on 16.1% increase in turnover to Rs 84189 crore in Q3 December 2016 over Q3 December 2015.
The result was announced after market hours yesterday, 16 January 2017. The result is as per Indian Accounting Standards (Ind AS).Meanwhile, the BSE Sensex was up 73.25 points, or 0.27%, to 27,361.42.
On the BSE, so far 99,000 shares were traded in the counter, compared with average daily volumes of 1.90 lakh shares in the past two weeks. The stock had hit a high of Rs 1,074.70 and a low of Rs 1,055.10 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.
On a consolidated basis, Reliance Industries' (RIL) profit before depreciation, interest, and taxes (PBDIT) increased by 3.9% to Rs 14215 crore in Q3 December 2016 over Q3 December 2015. Profit before tax increased by 3.7% to Rs 10213 crore in Q3 December 2016 over Q3 December 2015. Cash profit increased by 2.3% to Rs 10586 crore in Q3 December 2016 over Q3 December 2015.
Increase in revenue is primarily on account of increase in prices of refining and petrochemical products led by 13% increase in Brent crude prices. Turnover was also boosted by robust growth in retail business.
Other income rose 12.13% to Rs 2736 crore in Q3 December 2016 over Q3 December 2015, primarily due to higher profit on sale of investments partially offset by lower interest income.
Revenue from the refining and marketing segment increased by 7.5% to Rs 61693 crore in Q3 December 2016 over Q3 December 2015. Segment EBIT fell 4.3% to Rs 6194 crore ($912 million) in Q3 December 2016 over Q3 December 2015 on account of lower volumes and decline in GRMs.
On a standalone basis, GRM for Q3 December 2016 stood at $10.80 a bbl as against $11.5 a bbl in Q3 December 2015. RIL's GRM outperformed Singapore complex margins by $ 4.1 a bbl. RIL Jamnagar refineries processed 17.8 MMT in Q3 December 2016, marginally lower over Q2 September 2016. As at the end of the quarter, RIL operated 1,151 petroleum retail outlets in the country.
Outstanding debt as on 31 December 2016 was Rs 194381 crore ($28.6 billion) compared to Rs 180388 crore as on 31 March 2016.
Cash and cash equivalents as on 31 December 2016 were at Rs 76339 crore ($11.2 billion) 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.
Reliance Industries (RIL) is India's largest private sector company. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.
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