Reliance Industries' Q2 earnings a mixed bag: 10 key takeaways

Rodiano Bonacci
Ottobre 13, 2017

Gross Refining Margin (GRM) for the quarter stood at $ 12.0 per barrel.

For the first time, RIL's results release included a detailed report on the performance of its disruptive venture Jio Infocomm, which has taken the Indian telecom industry by storm.

Speaking on the performance, Mukesh Ambani, Chairman of Reliance Industries, said, "The rapid uptake of Jio services reflects the latent need of the society".

RJio has completed one year since its launch in September 2016, and the revenue from operation now stands at Rs 6,147.06 crore by end of September 30, 2017. Revenues of the company jumped 16.5 per cent to Rs 95,085 crore, as against Rs 81,861 crore past year.

Revenue from its refining business increased 4.2 percent QoQ and 15.3 percent YoY to Rs 69,766 crore. The telecom business reported a net loss of Rs 271 crore, but was profitable on the EBIT level at Rs 260 crore.

On a standalone basis, the company reported a net profit of Rs 8,265 crore, up 7.28 percent for the quarter ended September 2017, as compared to Rs 7,704 crore in the corresponding quarter previous year.

The company identified 15.3 million net additions of Jio during the quarter, with highest per capita data consumption at 9.62 GB per user per month, and 178 crore hours of high speed video consumption per month.

Apart from its oil business, the street closely looks at its digital business, which analysts expect it show better performance going ahead. "The strong financial results of Jio demonstrates the robust business model of Jio and the significant efficiencies that the Company has built through its investment in the latest 4G technology and right business strategy", Mukesh Ambani said in the statement.

Reliance Defence reported its standalone result for Q2FY18. Reliance Industries is executing major projects in its energy and materials chain at Jamnagar covering Para-Xylene, Cracker complex along with downstream plants and Gasification.

On standalone basis, Reliance's profit increased 0.8 percent sequentially to Rs 8,265 crore and revenue rose 1.9 percent to Rs 71,761 crore in Q2. Revenue for the Oil & Gas segment increased due to commencement of CBM production, Reliance Industries said.

EBITDA for the quarter fell by 33.2% yoy to Rs. 13 crore with a corresponding margin contraction of 413 bps.

Altre relazioniGrafFiotech

Discuti questo articolo

Segui i nostri GIORNALE