NEW DELHI: Reliance Industries on Wednesday reported its best ever quarterly web profit in July-September as report income from petrochemical business and bumper income from retail business and telecom arm made up for a decline in refinery margins.
The oil-to-telecom conglomerate also introduced an acquisition of majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for Rs five,230 crore to carry below its fold 27,000 native cable operators who would help strengthen its rollout of fibre-based broadband service to households for offering extremely high definition leisure on massive display TVs.
Its consolidated web profit of Rs nine,516 crore, or Rs 16.1 in step with percentage, in the second one quarter of present fiscal, was once 17.4 in step with cent upper than Rs eight,109 crore, or Rs 13.7 a percentage, in the same length of the previous financial yr, the company mentioned in a observation.
Revenue jumped 54.five in step with cent to Rs 1,56,291 crore.
Its retail business, which comprises of nine,146 retail outlets across five,800-plus towns and towns, saw pre-tax business profit leap 213 in step with cent to Rs 1,392 crore on the back of more than doubling of revenues to Rs 32,436 crore.
Reliance Jio, the group's telecom arm, posted a standalone web profit of Rs 681 crore, which was once 11.3 in step with cent more than the previous quarter as subscriber base swelled to 252.3 million.
It had a pre-tax loss of Rs 271 crore in the second one quarter of 2017-18.
The petrochemical business saw pre-tax earnings leap by 63.7 in step with cent to Rs eight,120 crore after the company stabilised operations of a new refinery off-gas cracker and different downstream gadgets.
The operator of world's largest oil refining complicated saw pre-tax income from the business decline for the second one quarter in a row. It fell 19.6 in step with cent to Rs five,322 crore as margins dipped. In the primary quarter the pre-tax income had fallen 16.eight in step with cent.
It earned USD nine.five on turning each and every barrel of crude oil into gas as compared to a gross refining margin of USD 12 in step with barrel. The GRM was once also not up to USD 10.five in step with barrel incomes in first quarter.
This it attributed to significantly upper crude price (up 47 in step with cent over final yr) and tight product cracks.
The pre-tax loss of oil and fuel business widened to Rs 480 crore from Rs 272 crore in the second one quarter of 2017-18 because of the ongoing decline in production.
With telecom continuing to empty investments, Reliance mentioned its exceptional debt rose to Rs 2,58,701 crore as on September 30 as compared to Rs 2,42,116 crore on June 30 and Rs 2,18,763 crore on March 31.
Cash in hand was once marginally declined to Rs 76,740 crore, from Rs 79,492 crore within the earlier quarter.
Commenting on the results, Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Ltd, mentioned: "Our company delivered robust operating and financial results for the quarter despite macro headwinds, with strong growth in earnings on a year-on-year basis."
"Our integrated refining and petrochemicals business generated strong cash flows in a period of heightened volatility in commodity and currency markets," he mentioned. "Our world-class petrochemicals assets contributed to record earnings; endorsing benefits of diversified feedstock, integration and superior product portfolio. Use of ethane feedstock at Nagothane cracker from this quarter has further enhanced feedstock optionality."
Stating that the group's consumer-facing companies have been gathering momentum, he mentioned the performance of both retail and Jio mirror the benefits of scale, generation and operational efficiencies.
"Retail business EBITDA has grown three-fold on Y-o-Y basis whereas Reliance Jio EBITDA has grown nearly 2.5 times. Jio has now crossed 250 million subscriber milestone and continues to be the largest mobile data carrier in the world," he mentioned.
Net subscriber addition for Jio was once 37 million in July-September, as in opposition to 28.7 million within the earlier quarter.
The Average Revenue in step with User (ARPU), however, declined to Rs 131.7 in step with subscriber per month from Rs 134.five in April-June.
RIL mentioned it is going to make a "primary investment of Rs 2,045 crore through a preferential issue under SEBI regulations and secondary purchase of Rs 245 crore from the existing promoters for a 66 per cent stake in DEN".
Also, it is going to make a number one investment of Rs 2,940 crore thru a preferential factor for a 51.34 in step with cent stake in Hathway.
RIL would also make open provides to minority shareholders of GTPL Hathway Ltd, a company jointly controlled by Hathway with 37.3 in step with cent stake, and Hathway Bhawani Cabletel and Datacomm Limited, a subsidiary of Hathway, the observation mentioned.
The oil-to-telecom conglomerate also introduced an acquisition of majority stakes in Den Networks Ltd and Hathway Cable and Datacom Ltd for Rs five,230 crore to carry below its fold 27,000 native cable operators who would help strengthen its rollout of fibre-based broadband service to households for offering extremely high definition leisure on massive display TVs.
Its consolidated web profit of Rs nine,516 crore, or Rs 16.1 in step with percentage, in the second one quarter of present fiscal, was once 17.4 in step with cent upper than Rs eight,109 crore, or Rs 13.7 a percentage, in the same length of the previous financial yr, the company mentioned in a observation.
Revenue jumped 54.five in step with cent to Rs 1,56,291 crore.
Its retail business, which comprises of nine,146 retail outlets across five,800-plus towns and towns, saw pre-tax business profit leap 213 in step with cent to Rs 1,392 crore on the back of more than doubling of revenues to Rs 32,436 crore.
Reliance Jio, the group's telecom arm, posted a standalone web profit of Rs 681 crore, which was once 11.3 in step with cent more than the previous quarter as subscriber base swelled to 252.3 million.
It had a pre-tax loss of Rs 271 crore in the second one quarter of 2017-18.
The petrochemical business saw pre-tax earnings leap by 63.7 in step with cent to Rs eight,120 crore after the company stabilised operations of a new refinery off-gas cracker and different downstream gadgets.
The operator of world's largest oil refining complicated saw pre-tax income from the business decline for the second one quarter in a row. It fell 19.6 in step with cent to Rs five,322 crore as margins dipped. In the primary quarter the pre-tax income had fallen 16.eight in step with cent.
It earned USD nine.five on turning each and every barrel of crude oil into gas as compared to a gross refining margin of USD 12 in step with barrel. The GRM was once also not up to USD 10.five in step with barrel incomes in first quarter.
This it attributed to significantly upper crude price (up 47 in step with cent over final yr) and tight product cracks.
The pre-tax loss of oil and fuel business widened to Rs 480 crore from Rs 272 crore in the second one quarter of 2017-18 because of the ongoing decline in production.
With telecom continuing to empty investments, Reliance mentioned its exceptional debt rose to Rs 2,58,701 crore as on September 30 as compared to Rs 2,42,116 crore on June 30 and Rs 2,18,763 crore on March 31.
Cash in hand was once marginally declined to Rs 76,740 crore, from Rs 79,492 crore within the earlier quarter.
Commenting on the results, Mukesh D Ambani, Chairman and Managing Director, Reliance Industries Ltd, mentioned: "Our company delivered robust operating and financial results for the quarter despite macro headwinds, with strong growth in earnings on a year-on-year basis."
"Our integrated refining and petrochemicals business generated strong cash flows in a period of heightened volatility in commodity and currency markets," he mentioned. "Our world-class petrochemicals assets contributed to record earnings; endorsing benefits of diversified feedstock, integration and superior product portfolio. Use of ethane feedstock at Nagothane cracker from this quarter has further enhanced feedstock optionality."
Stating that the group's consumer-facing companies have been gathering momentum, he mentioned the performance of both retail and Jio mirror the benefits of scale, generation and operational efficiencies.
"Retail business EBITDA has grown three-fold on Y-o-Y basis whereas Reliance Jio EBITDA has grown nearly 2.5 times. Jio has now crossed 250 million subscriber milestone and continues to be the largest mobile data carrier in the world," he mentioned.
Net subscriber addition for Jio was once 37 million in July-September, as in opposition to 28.7 million within the earlier quarter.
The Average Revenue in step with User (ARPU), however, declined to Rs 131.7 in step with subscriber per month from Rs 134.five in April-June.
RIL mentioned it is going to make a "primary investment of Rs 2,045 crore through a preferential issue under SEBI regulations and secondary purchase of Rs 245 crore from the existing promoters for a 66 per cent stake in DEN".
Also, it is going to make a number one investment of Rs 2,940 crore thru a preferential factor for a 51.34 in step with cent stake in Hathway.
RIL would also make open provides to minority shareholders of GTPL Hathway Ltd, a company jointly controlled by Hathway with 37.3 in step with cent stake, and Hathway Bhawani Cabletel and Datacomm Limited, a subsidiary of Hathway, the observation mentioned.
Reliance Industries posts record Rs 9,516 crore profit in Q2
![Reliance Industries posts record Rs 9,516 crore profit in Q2]()
Reviewed by Kailash
on
October 17, 2018
Rating:
