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RIL Q2 consolidated net rises 12.5% to Rs 8,109 cr; Jio's loss at Rs 271 cr

Revenue increased 24% to Rs 1,01,169 cr; GRM was $12 for the quarter, outperforming the benchmark Singapore complex margins by $3.7 per barrel

BS Web Team  |  New Delhi 

Reliance unlikely to let $1.5 bn penalty hit shareholders

Buoyed by higher margins from its core refining and petrochemical businesses,  oil-to-telecoms conglomerat today reported a 12.5% increase in second-quarter consolidated net profit at Rs 8,109 crore as compared with last year’s figure of Rs 7,206 crore.

Consolidated revenue increased by 24% to Rs 1,01,169 crore during the quarter ending September as against Rs 81,651 crore in year-ago period.

Profit on a standalone basis, which includes the company's refining, petrochemicals and oil and gas exploration businesses, stood at Rs 8,265 crore, compared with Rs 7,704 crore a year earlier, a 7% increase.

Gross refining margin, the profit earned on each barrel of crude processed, was $12.0 for the quarter, outperforming the benchmark Singapore complex margins by $3.7 per barrel.

Its telecoms arm Jio Infocomm Ltd, which upended the telecoms industry with its free calls and cheaper data plans, posted a loss of Rs 271 crore against a net loss of Rs 21.3 crore in the preceding quarter.

Reliance Jio's revenue from operations during the quarter was Rs 6,147 crore and its subscriber base is at 138.6 million as of September 30. Consolidated value of services was Rs 7,213 crore and consolidated EBIT of Rs 261 crore during the quarter. Standalone EBIT margin stands at 4.2%.

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

Total wireless data traffic during the quarter at 378 crore GB.

Ahead of the results, shares in Reliance hit a record high of Rs 890.7, rising as much as 2.1%.

Ahead of its quarterly earnings announcement, RIL’s shares jumped nearly 4% on Thursday. The company's market valuation zoomed to its highest ever, by Rs 20,328.1 crore at Rs 5,52,515.10 crore.

First Published: Fri, October 13 2017. 17:20 IST
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