Friday, 21 July 2017

RIL likely to open 3-4% higher today

Reliance Industries delivered a massive beat in almost all parameters when it reported its results for the quarter ended June on Thursday. The stock could well open with a gap up of 3-5 percent by today, suggest experts.

We have collated a list of top 10 takeaways from RIL Q1 results:

Net Profit up 28%

RIL reported 28 percent YoY growth in net profit to Rs9,108 crore which was higher than a CNBC-TV18 poll of 7,960 crores. The oil & gas major reported a net profit of Rs7,113 crore in the corresponding quarter of last fiscal.

Total Revenues:

Consolidated Total revenues rose 27.7 percent on a YoY basis to Rs90,537 crore for the quarter ended June 30, compared to Rs71,451 crore reported in the year-ago period.

Strong beat on GRMs:

Strong refining and petrochemicals margin environment contributed to higher operating profits for the quarter. Gross refining margins recorded nine-year-high of $ 11.9/bbl whereas petrochemicals EBIT margin were at an all-time high of 15.8 percent.

Increase in Employee Cost:

Employee cost increased by 16.3 percent at Rs2,455 crore ($ 380 million) as against Rs2,111 crore in corresponding period of the previous year due to increased employee base and higher payouts.

Operating profit rose by nearly 12%

Operating profit before other income and depreciation increased by 11.9 percent on a Y-o-Y basis to Rs12,554 crore ($ 1.9 billion) from Rs11,223 crore in the previous year.

Capital Expenditure:

The capital expenditure for the quarter ended 30th June 2017 was Rs25,192 crore (USD 3.9 billion) including exchange rate difference capitalization.

Refining Margins:

During 1Q FY18, revenue from the Refining and Marketing segment increased by 18.3 percent on a Y-o-Y basis to Rs66,945 crore (USD 10.4 billion). Gross Refining Margins (GRM) for 1Q FY18 stood at USD 11.9/bbl as against USD 11.5/bbl in 1Q FY17.

Petchem Margins:

1Q FY18 revenue from the Petrochemicals segment increased by 22.9 percent on a Y-o-Y basis to Rs25,461 crore (USD 3.9 billion), primarily due to increase in prices of PP, PVC, PTA, and Polyester and increase in volumes due to addition in the capacity of PX at Jamnagar.

Oil & Gas Business:

1Q FY18 revenues for the Oil & Gas segment decreased by 1.2 percent on a Y-o-Y basis to Rs 1,324 crore primarily due to lower volumes in US shale and domestic operations. Segment EBIT was at (373) crore, impacted by an overall decline in volumes and lower realizations in domestic business.

Retail business revenue grew by 73%

1Q FY18 revenues grew by 73.6 percent on a Y-o-Y basis to a Rs11,571 crore, a milestone level for quarterly revenues. The increase in revenue was led by growth across all consumption baskets.

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