Reliance Industries Limited today posted a net profit of Rs 5,352 crore on the back of higher refining margins. Mukesh Ambani says, posted strong results for Q1. He also said that his company will continue to invest for the growth of India.
The company had posted a net profit of Rs 4,503 crores in the same period last year.
Net sales of the company for the quarter was at Rs 87,645 crores versus 84,198 crore on quarter.
Other income of the company was Rs 2,535 crores vs Rs 2,243 qoq. EBITDA at 8.1%.
Revenue fell 4.6% to Rs 90,589 crore on back of lower output from RIL's flagship KG-D6 gas fields.
GRM was at $8.4 bbl versus $8.5 in the previous quarter
Analysts had predicted profitto go up by 17-20% given the low base last year.
Refining revenue of the company is at Rs 81,458 crores versus Rs 77,872 crores qoq.
Petrochemical EBITDA 8.6% versus 8.5% qoq. Refining EBITDA margin at 3.6% vs 4.5% qoq.
Petroleum refining revenue of the company is Rs 21,950 crore versus Rs 22,158 crore in the previous quarter.
Shale Gas Revenue improved 84% on year.
Retail revenue improved 53%.
Cash reserves of the company reported at Rs 93,000 crores.