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RIL Q3 net profit at Rs 10,251 cr up 9%
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SME Times News Bureau | 18 Jan, 2019
Reliance Industries (RIL) on Thursday reported 8.82 per cent rise in
consolidated net profit for the third quarter ending December at Rs
10,251 crore on the back of higher realisations from petrochemicals and
marketing segments.
The Mukesh Ambani-led RIL said in a statement
that it had posted a net profit of Rs 9,420 crore in the corresponding
quarter of 2017-18.
The company's consolidated revenue from
operations during the quarter in consideration at Rs 1,60,299 crore
jumped a massive 56.38 per cent over Rs 1,02,500 crore earned in the
October-December quarter of FY18.
However, RIL's gross refining
margin (GRM), or the profit on converting a barrel of crude to refined
products, for December quarter fell to $8.8 per barrel, from $9.5 in the
previous quarter, on account of lower crude prices.
Revenue
from the petrochemicals business during October-December rose 37.1 per
cent to Rs 46,246 crore due to increase in price realisations and
volumes mainly in polymer products and fibre intermediates, the company
said.
The earnings before interest and tax (EBIT) from the
petrochemicals segment during the quarter in question at Rs 8,221 crore
rose 42.9 per cent over the same period of 2017-18.
RIL's third
quarter revenue from refining and marketing businesses at Rs 1,11,738
crore increased 47.3 per cent over the same period in fiscal 2017-18.
Commenting
on the results, RIL Chairman Mukesh Ambani said in a statement: "In an
oil price environment that witnessed heightened volatility through the
quarter, RIL has delivered strong quarterly results on a consolidated
basis. Competitive cost positions and integration benefits is core to
our oil to chemicals business, driving sustained performance even in
challenging global business environment."
With the results coming
after market hours, the RIL stock closed flat on Thursday at Rs
1,133.75 a share, down 30 paise, or by 0.03 per cent, on its previous
close on the BSE.
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As on 13 Aug, 2022 |
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