Reliance Industries Q2 results beats estimates for year 2019.
Reliance Industries Q2 results beats estimates for year 2019 on 18th October 2019 declared its Q2 results and it has posted a 18.3% yoy increase in its net profits for the September quarter to record at Rs. 11,262 cr. Company achieved this on back of strong performance by retial and digital service business (JIO).
During the quarter, RIL’s revenue rose 4.8% from ₹1.56 trillion in the year-ago period to ₹1.63 trillion. Eleven analysts had estimated quarterly revenue at ₹1.53 trillion.
RIL Becomes 1st Company To Touched market capitalization Rs. 9 trillion
Ahead of results share price of RIL touched its 52 weeks high of Rs. 1427.90, by this RIL has become first company in India by market capitalization to more than ₹9 trillion.
On Friday 18th October 2019, share price of RIL opened 1404, touched intraday high 1427.90, low 1398.70 and closed with a gain of Rs. 19.50 at Rs. 1416 up by 1.40% at National stock exchange of India. RIL previous close at Rs. 1396.50. Stock PE ratio stood at 21.20 as on 18th October 2019.
RIL`s telecom subsidiary posted net profit of Rs. 990cr for the September quarter up 45.4% yoy, its data consumption is increasing daily as more and more subscribers are joining. Its operating revenue rose 33.7% year-on-year to Rs. 12,354 crore.
RIL’s retail business saw its segment revenue at Rs. 41,202 crore for the quarter, up 27%.
Revenue from refining down by 1.6% to Rs.97,229 cr mainly because of lower crude prices during the quarter, while the segment’s Ebit margin came in at 5.1% against 5.4% in the corresponding quarter of last fiscal year.
Revenue from the petrochemicals dropped 11.9% to Rs. 38,538 cr in the September Quarter from Rs. 43,745 cr in the second quarter of the last fiscal year. Mainly because of weaker petrochemical product margins offset by record petrochemical production and cost optimization through light-feed cracking, RIL said.
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