Reliance Industries Q4 results 2018 LIVE: Mukesh Ambani firm reports net profit at Rs 9435 crore
Reliance Industries Q4 results 2018 LIVE: Reliance Industries, country's second most valuable firm in terms of market capitalisation, reported consolidated net profit at Rs 9,435 crore. The company's consolidated sales came in at Rs 1.2 lakh crore.
The oil-to-telecom conglomerate's gross refining margin (GRM) dipped to $11 from $11.6 reported in the December quarter. GRM is what the company earns from turning every barrel of crude oil into fuel. Analysts had expected Q4 FY18 GRM to come in at $11.3-11.6.
RIL share price settled at Rs 994.75, up 2 per cent on the BSE. In intraday trade, the stock rose as much as 3.62 per cent to hit its lifetime high of Rs 1010.70 on the BSE. The company could possibly be the next Indian firm to hit the $100 billion mark after Tata Consultancy Services achieved this feat on Monday. RIL needs just 3 per cent gains from from its lifetime high to hit the $100 billion mark in terms of market capitalisation again.
Reliance Industries Q4 results 2018 LIVE: Reliance Industries, country's second most valuable firm in terms of market capitalisation, reported consolidated net profit at Rs 9,435 crore. The company's consolidated sales came in at Rs 1.2 lakh crore.
The oil-to-telecom conglomerate's gross refining margin (GRM) dipped to $11 from $11.6 reported in the December quarter. GRM is what the company earns from turning every barrel of crude oil into fuel. Analysts had expected Q4 FY18 GRM to come in at $11.3-11.6.
RIL share price settled at Rs 994.75, up 2 per cent on the BSE. In intraday trade, the stock rose as much as 3.62 per cent to hit its lifetime high of Rs 1010.70 on the BSE. The company could possibly be the next Indian firm to hit the $100 billion mark after Tata Consultancy Services achieved this feat on Monday. RIL needs just 3 per cent gains from from its lifetime high to hit the $100 billion mark in terms of market capitalisation again.
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Reliance Industries Q4 results 2018 LIVE: Mukesh Ambani, Chairman and Managing Director, RIL
FY 2017-18 was a landmark year for Reliance where we established several records on both operating and financial parameters. Reliance has become the first Indian company to record PBDIT (Profit Before Depreciation Interest and Taxes) of over $10 billion with each of our key businesses - Refining, Petrochemicals, Retail and Digital Services achieving record earnings performance," said Mukesh D. Ambani, Chairman and Managing Director of RIL.
He said substantial synergies, productivity gains and production growth in the energy and materials business has allowed the company to perform at very competitive levels despite the uptrend in oil prices through the year.
"We have established strong foundations in retailing and digital services business with world-class supply chain management and network infrastructure which will serve our customers well. It is very heartening to see the traction our service offerings are gaining, with discerning Indian consumers. The growing Indian market provides exciting opportunities to scale-up these businesses and maximize long-term shareholder value in the coming years," he added.
Reliance Industries Q4 results 2018 LIVE: Reliance Jio Q4 PAT came in at Rs 510 crore vs Rs 504 crore, up 1.2% QoQ, while RJio subscriber base stood at 186.6 million as on March 31, 2018.
Reliance Industries Q4 results 2018 LIVE: Consolidated EBITDA dipped to Rs 18,469 crore against Rs 18,354 crore QoQ, while consolidated margins stood at 15.4 per cent.
Reliance Industries Q4 results 2018 LIVE
- Petchem margins at 16.9% vs 17.1% QoQ
- Refining margins at 6% vs 8.1% QoQ
- Cons other income at Rs 2,200 cr
Reliance Industries Q4 results 2018 LIVE: Cons PAT at Rs 9,435 cr vs Rs 9,423 cr, down 0.9 per cent QoQ; GRM at $11/bbl vs $11.6/bbl QoQ
RIL Board anniunces dividend
RIL Board recommended a dividend of Rs 6 per equity share of Rs 10 each, on the enhanced share capital on account of bonus issue in the ratio of 1:1 last year, for the financial year ended March 31, 2018.
Reliance Industries Q4 results 2018 LIVE: Reliance Jio net profit at Rs 510 cr vs Rs 504 cr (QoQ), ARPU at Rs 137.10 vs Rs 154 (QoQ)
Reliance Industries Q4 results 2018 LIVE: Reliance Industries is our preferred pick as we expect strong increase in its standalone earnings from recently commissioned downstream projects. Moreover, the telecom business is gaining strong traction and could continue to surprise positively in terms of operational and financial performance. Additionally, the retail business is also doing well with high double-digit growth in revenue and EBITDA and the company is reducing its exposure to loss-making US shale gas business.
Source: Sharekhan
HIGHLIGHTS OF DECEMBER QUARTER’S PERFORMANCE (CONSOLIDATED)
- Revenue increased by 30.5% to Rs 109,905 crore ($ 17.2 billion)
- PBDIT increased by 39.4% to Rs 19,845 crore ($ 3.1 billion)
- Profit Before Tax increased by 29.1% to Rs 13,220 crore ($ 2.1 billion)
- Cash Profit increased by 42.6% to Rs 15,116 crore ($ 2.4 billion)
- Net Profit increased by 25.1% to Rs 9,423 crore ($ 1.5 billion)
Reliance Industries Q4 results 2018 LIVE: Reliance Jio is expected to report Rs 800 crore net ptofit against Rs 505 crore reported in the December quarter.
Reliance Industries Q4 results 2018 LIVE: "We model a premium of $4.4/barrel over benchmark GRM of $7 (up 9 per cent YoY, but down 3 per cent QoQ). The petchem segment is expected to do better due to healthy delta and strong volume growth in the segment," said Motilal Oswal Securities.
Reliance Industries Q4 results 2018 LIVE: "GRMs would get offset by strong performance of petrochemicals segment, which is likely to benefit from higher volumes (on account of ramp up of the recently commissioned Refinery off Gas Cracker and petchem expansion projects). Overall, we expect earnings of RIL to increase by 5.1 per cent YoY (1.3 per cent QoQ) to Rs 8,563 crore," said Sharekhan.
Reliance Industries Q4 results 2018 LIVE: Sharekhan expects GRM for the oil major to decline to $11.3 in the fourth quarter from $11.6 sequentially.
Reliance Industries Q4 results 2018 LIVE: RIL board is expected to reward its shareholders with dividends on equity shares.
Reliance Industries Q4 results 2018 LIVE: Elara Capital
RIL GRM is expected to decline by USD0.5/bbl YoY and USD0.6/bbl QoQ to USD11.0/bbl, though its GRM decline is lower as compared to PSU OMCs peers on strengthening of Arab light-Arab heavy crude differentials by USD1.5/bbl YoY to USD2.7/bbl.