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10 key takeaways from RIL Q1 results

Last Updated: Fri, Jul 19, 2013 13:43 hrs
Undated handout photo of India's Reliance Industries KG-D6's facility

RIL has announced a better than expected numbers. However, a closer look at the numbers do not give much reasons to cheer. 

 
Following are the 10 quick takeaways from its numbers
 
1. Net profit is lower than that of previous quarter. As against Rs 5,589 crore in March 2013, the company posted Rs 5,352 crore in June 2013.
 
2. Refining margins are falling - Gross refining margin (GRM) was lower at $8.4 per barrel as compared to $10.1 per barrel in March 2013 and $9.6 in December 2012.
 
3. Profit contribution from its businesses have fallen - Against Rs 5,923 crore in March 2013, the company posted Rs 5,275 crore in earning before interest and tax (EBIT)
 
4. Refining profit pull down numbers -- Though revenue from refining is higher, its profits are lower, thanks to lower GRM. Sales of Rs 81,458 crore in June 2013 against Rs 77,872 crore in March 2013. EBIT of Rs 2,951 crore against Rs 3,520 crore. 
 
5. Gas revenue continues to fall - Gas revenue is down to Rs 1,454 crore in June 2013 against Rs 1,597 crore in March 2013 and Rs 2,508 crore in June 2012. 
 
6. Gas profits are at one-third of its previous year - EBIT are at Rs 352 crore in June 2013 against Rs 460 crore in March 2013 and Rs 972 crore in June 2012.  
 
7. Other income the savior - Other income for June 2013 was at Rs 2,535 crore against Rs 2,243 crore in March 2013 and Rs 1,904 crore in June 2012.
 
8. Other income now account for one-third of profit before interest and tax - Contribution of other income stands at 33 per cent in June 2013 as against 28 per cent in March 2013 and 30 per cent in June 2012.
 
9. Retail and shale gas fastest growing segments – Revenue from Retail improved by 53 per cent (YoY) and Shale gas 84 per cent (YoY). However, their contribution to the turnover is still small to have a meaningful impact
 
10. Cash keeps on piling - Reliance currently sits on a Rs 93,000 crore cash pile.

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