RIL's Gross Refining Margin (GRM) for the March 2018 quarter stood at $11 per barrel as compared to $11.5 per barrel in the corresponding quarter previous financial year.
Buoyed by growth across all sectors, RIL posted a 39 per cent rise in revenues at Rs129,120 crore ($19.8 billion) against Rs92,889 crore in the previous-year quarter.
Mumbai: Reliance Industries' quarterly net profit rose 17.3% to Rs 9,435 crore as the conglomerate turned a new leaf, with its booming petrochemicals business delivering higher earnings than refining for the first time in a decade while the newer retail and telecom ventures grew briskly in the improved economic environment.
A Bloomberg poll of several analysts expects RIL to report a net profit of Rs9,347 crore, on the back of revenues worth Rs1.16 trillion for the quarter ended 31 March. Consolidated PBDIT for the quarter stood at Rs20,664 crore ($3.2 billion), up 45.9 per cent year-on-year. For the year ended 31 March 2018 (FY 2017-18, the year under review), this Reliance Industries Ltd (RIL) subsidiary reported profit of Rs 723 crore against operating revenue of Rs 20,154 crore and value of services of Rs 23,714 crore.
Gross refining margin stood at Dollars 11 per barrel, well within the range expected by most analysts.
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"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". Reliance Retail recorded a 105 per cent surge in revenue to Rs 69,198 crore.
The numbers were aided by a strong performance in the petrochemical segment, which gained on higher volumes on account of a ramp-up of the recently commissioned refinery off-gas cracker (ROCG) and petchem expansion projects. The portable hotspot was launched in 2016.
RIL's share price at the BSE today closed at Rs 994.75, up 1.9 per cent as compared to previous close.
Reliance Jio, India's premiere mobile and digital services provider earned the number 17 spot on the global list, and also ranked at number one for Most Innovative Companies in India by Fast Company.