RIL consolidated net profit up 18% in Apr-June quarter

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Mumbai :  Mukesh Ambani controlled Reliance Industries limited (RIL) today reported YoY 17.9% growth in consolidated net profit to Rs. 9,459 crore ($ 1.4 billion) in the first quarter of the current financial year. Consolidated revenue also increased by 56.5% to Rs.141,699 crore ($ 20.7 billion) and PBDIT increased by 52.8% toRs. 22,449 crore ($ 3.3 billion).

On standalone basis RILs Net profit has increased by 7.6% to Rs. 8,820 crore ($ 1.3 billion) and Revenue increased by 41.0% toRs. 99,318 crore ($ 14.5 billion). Its Exports has increased by 41.5% to Rs.52,501 crore ($ 7.7 billion) and  Gross Refining Margin (GRM) of $ 10.5/bbl for the quarter.

Basic earnings per share (EPS) for the quarter, was Rs.16.0 as against Rs. 13.5 in the corresponding period of the previous year. Outstanding debt as on 30th June, 2018 was Rs.242,116 crore ($ 35.4 billion) compared to Rs. 218,763 crore as on 31st March, 2018.

 “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 we have reinforced over the last investment cycle. Our petrochemicals business generated record EBITDA with strong volumes and an upswing in polyester chain margins. Refining business performance remained steady despite the seasonal weakness in cracks. Continuing strength in global demand for oil products and implementation of more stringent environmental norms for marine fuels augurs well for our refining business” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.

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