Friday, 21 July 2017

Reliance Industries's net profit jumped 28% to Rs 9,108 crore in Q1

DSR Broking

New Delhi, July 20 Reliance Industries Ltd, doing business in oil and telecom sector, : RIL's net profits rose by 28 per cent to Rs 9,108 crore in the June quarter of the current year. The profits of the company increased by refinery and petrochemicals margin.

In a statement, Reliance Industries said in a statement that in the first quarter of the year 2017-18, the net profit of the company increased by 28% to Rs 9,108 crore: 30.8 rupees per share, whichever is earlier, in the April-June quarter of the year 2016-17, 7,113 Crore: 24.1 rupees per share.

According to the company, the company has more operating profit in the June quarter than strong refining and petrochemical margin.

Gross refining margin of RIL was $ 11.5 barrel, which is a high level of nine years. Earlier, in the same quarter of the year 2016-17, margin was 11.5 dollars per barrel.

Interest and taxes in petrochemicals: EBIT: margin was 15.8 percent, which is the highest ever.

Company's income increased by 26.7 percent to Rs 90,537 crore in the first quarter of 2017-18.

RIL's retail business grew robust and the company's income grew by 73.6 per cent to Rs 11,571 crore.

The debt rose to Rs 200,674 crore in the quarter ended June 30, which was 31 March 196,601 crore. At the same time, the cash was reduced to Rs 72,107 crore in the period under which the company was Rs 77,226 crore in March-March quarter.

However, RIL did not give detailed explanation about the telecom venture Reliance Jio. The company started telecommunication business in September last year and this has led to increase the debt on the company and the cash of the company's hands has been reduced.

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