NEW DELHI: Reliance Industries (RIL) on Friday posted a record quarterly profit at Rs 9,459 crore for the quarter ended June 30 on the back of near doubling of earnings from mainstay petrochemical business.
“We continue to focus on strong delivery through operational excellence in our portfolio of businesses. Financial results of 1Q FY19 underscore the strength of the petrochemicals that we reinforced over the last investment cycle. Our petrochemicals business generated record EBITDA with strong volumes and an upswing in polyester chain margins," said Chairman Mukesh Ambani.
Here are 10 key takeaways from RIL's financial results.
Reliance Industries on Friday posted 3.85 per cent rise in profit at Rs 9,459 crore for the quarter ended June. It had posted a net profit of Rs 9,108 crore in the corresponding quarter last year. ETNow poll had predicted a profit of Rs 9,554 crore.
Consolidated revenue from operation increased 46.98 per cent year-on-year basis to Rs 1,33,069 crore for the quarter under review against Rs 90,537 crore reported for the same period last year.
Gross refining margin (GRM) stood at $10.5 a barrel against $11.90 a barrel in the same quarter last year. The figure was at $11 per barrel in the sequential quarter ended March 31, 2018.
Reliance Jio reported net profit of Rs 612 crore for Q1 of FY19 over Rs 510 crore reported for the sequential quarter ended March 31, 2018. Average revenue per user (ARPU) fell to Rs 134.50 from Rs 137 QoQ per subscriber per month. Jio continued its strong subscriber growth trend with net addition of 28.7 million against 26.5 million in March quarter, highest in any quarter since the launch of commercial services.
Reliance Retail recorded a sharp 124% increase in revenue at Rs 25,890 crore and Digital Services business contributed Rs 9,653 crore for the quarter. Reliance Brands, a subsidiary, has purchased 100% stake in Rhea Retail, which is in the business of selling products in India for expectant mothers and in general merchandise for children (viz mothercare).
Reliance and BP announced the sanctioning of the satellite cluster project in block KG D6. The companies are moving forward to develop the blocks discovered deep-water gas fields in an integrated series of projects, bringing new gas production for India.
Basic earnings per share (EPS) for the three months to June 30 was Rs 16 against Rs 13.5 in the corresponding period of the previous year.
Outstanding debt as of June 30, 2018 stood at Rs 2,42,116 crore compared with Rs 218,763 crore as of March 31, 2018.
Cash and cash equivalents
The figure stood at Rs 79,492 crore for the quarter ended June 2018 compared with Rs 78,063 crore as of March 31, 2018. These were in bank deposits, mutual funds, CDs, govetnment bonds and other marketable securities.
The capital expenditure (capex) for the quarter ended June 30, 2018 stood at Rs 33,267 crore, including exchange rate difference.