Reliance Retail's PBDIT jumps 65.8% to Rs 398 crore
Reliance Retail's PBDIT jumps 65.8% to Rs 398 crore
RIL results are expected to be out Thursday
21 July, 2017, 01:39
Revenues on a consolidated basis for RIL during the quarter grew 26.7%, to Rs 90,537 crore, against RS 71,451 crore in Q1FY17. Balaji Telefilms is promoted by Ekta Kapoor and her family, led by her father and yesteryear Bollywood superstar Jeetendra. "This investment is a vote of confidence to the Company's strategic move to own our IP and our viewers".
Axis Capital acted as the sole investment banker for this transaction.
The company said that the increase in revenue was primarily on account of increase in prices and volumes of refining and petrochemical products partially offset by lower prices and volumes from E&P business. Gross Refining Margins (GRM) for 1Q FY18 stood at United States dollars 11.9/bbl as against USD 11.5/bbl in 1Q FY17. The total volume of shares traded was 227,482 at the BSE (Thursday).
Reliance Industries (RIL) disclosed a good increase in consolidated net profit for the quarter ended June 2017.
Singapore GRM was flat at Dollars 6.40 a barrel QoQ as lower cracks for light and middle distillates were offset by stronger fuel oil cracks and lower freight, it said. Further, favorable Brent-Dubai differential aided crude sourcing during the quarter.
Motilal Oswal Securities expects RIL to post an inventory loss of $1 a barrel.
"Our Company recorded yet another strong quarterly performance with a net profit of Rs9,108 crores, up 28% Y-o-Y". Profit Before Tax increased by 5.9% to Rs 10,561 crore ($ 1.6 billion).
Standalone revenue from operations climbed 18.4 percent to 704.34 billion rupees. Retail business also witnessed accelerated growth momentum with YoY revenue growth of 74 per cent. "Full commissioning of the new PX facility...will strengthen the integration with our polyester chain, Ramp-up of ethane import projects has helped in diversifying feedstock resources and mitigating risks for our existing crackers at Dahej and Hazira". "Revenue was also boosted by robust growth in retail business which recorded a 73.6 per cent increase in revenue to Rs 11,571 crore", it said.
RIL's net debt as on June 30 stood at Rs 1,28,567 crore; and the company had cash and cash equivalents to the tune of Rs 72,107 crore.
The shares slid 0.3% to close at ₹1,528.70 prior to the results, which were announced after close of trading.
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