RIL beats estimates, posts Rs 5511 cr Q3 profit

Reliance Industries, the country's biggest company, today reported a higher than expected net profit riding high on higher income from the oil and gas sector.

The company's net profit came in at Rs 5,511 crore as against CNBC-TV18 poll estimate of Rs 5,300 crore.

Its net revenue stood at Rs 1.03 lakh crore vs estimate Of Rs 1.04 lakh crore. The company's earnings before interest, tax, depreciation and amortisation stood at Rs 7,622 crore, higher than the estimate of Rs 7,420 crore.

 RIL beats estimates, posts Rs 5511 cr Q3 profit

Reliance Industries, chairman and managing director, Mukesh Ambani. AFP

The company petrochemicals earnings before interest and tax stood at Rs 2,124 crore.

The corresponding figures for the refining sector stood at Rs 3,141 crore and the oil & gas at Rs 540 crore.

The company's other income stood at Rs 2,305 crore.

The company's exports increased by 11.3 percent to Rs 74,495 crore ($12.1 billion)

Its gross refining margins (GRM) stood at $7.60 per barrel as against an estimate of $7.50 during the quarter. The GRM is the difference between the crude oil price and the cost at which the company sells the refined product.

Reliance Industries is usually dependent on its refining business. This accounts for about 80 percent of the company's of revenue. It has two refineries at Jamnagar, Gujarat, with an aggregate capacity of 62 mln tn a year.

The company's oil & gas EBIT margin stood 31 percent against 24.3 percent on quarter. Its refining sector EBIT margin came in flat at 3.3 percent.

The company's EBITDA margin was 7.4 percent compared with 7.6 percent in the previous quarter. Its petchem EBIT margin stood at 8 percent as against 10 percent.

Updated Date: Dec 21, 2014 01:54:46 IST



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