Reliance Industries Q2 Profit Rises 12.5%, Jio Loss At Rs 271 Crore

Reliance Industries the parent of telecom operator Jio will announce its quarterly performance numbers at around 5 pm today

Consolidated value of services was Rs 7,213 crore and consolidated EBIT of Rs 261 crore during the quarter.

Mukesh Ambani, chairman and managing director, Reliance Industries said: "The results reflect strong underlying fundamentals of our refining and petrochemicals businesses".

The company had reported a net profit of Rs 7,209 crore in the same quarter last fiscal, RIL said in a regulatory filing.

The standalone earnings before interest, tax, depreciation and amortization (EBITDA) for the quarter came at Rs 1,443 crore and the EBITDA margin came in at 23.5 percent. Segment EBIT loss narrowed to Rs 272 crore as against Rs 491 crore in the corresponding period of the previous year.

Reliance Industries' gross refining margin (GRM), the money made from turning one barrel of crude oil into fuel, came in at $12 per barrel compared to $11.9 in the June quarter.

"Increase in revenue is primarily on account of increase in prices and volumes in refining, petrochemical and retail businesses. Sustained demand growth coupled with supply disruptions further tightened demand supply balances globally during the quarter".

In this quarter, revenue from the Refining and Marketing segment increased by 15.3% Y-o-Y to Rs 69,766 crore ($ 10.7 billion).

The telecom arm of Reliance posted a loss of Rs 270 crore.

September quarter average revenue per user (ARPU) was Rs 156.4 per subscriber per month.

The scrip was up 1.23 per cent at Rs 883.75 around 9.30 am (IST).

Profit on a standalone basis, which includes refining, petrochemicals and oil and gas exploration businesses, rose to Rs8,265 crore in the quarter ended 30 September, its highest ever.

Key Highlights of Reliance Jio in Q2 were.

Jio continues its rapid ramp-up of subscriber base and as of 30th September 2017, there are 138.6 million subscribers on the network.

Outstanding debt as on September 30, 2017 was Rs 2,14,145 crore compared with Rs 196,601 crore as on March 31, 2017.

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