 "Reliance Industries gains post Q2 results")
Reliance Industries is trading higher by nearly 2% at Rs 973 on BSE in early morning deals after it reported a better-than-expected consolidated net profit at Rs 5,972 crore for the quarter ended September 2014 (Q2) on back of improved gross refining margins (GRMs) and lower input costs. The company had registered a profit of Rs 5,873 crore during the same quarter last fiscal.
However, consolidated net sales declined 4.3% to Rs 113,396 crore from Rs 118,439 crore for the corresponding quarter of previous fiscal.
Analysts on an average had expected net profit of Rs 5,593 crore and net sale of Rs 98,246 crore from the oil and gas major.
The stock opened at Rs 980 and has seen a combined 750,000 shares changed hands on the counter so far on BSE and NSE.
However, consolidated net sales declined 4.3% to Rs 113,396 crore from Rs 118,439 crore for the corresponding quarter of previous fiscal.
Analysts on an average had expected net profit of Rs 5,593 crore and net sale of Rs 98,246 crore from the oil and gas major.
The stock opened at Rs 980 and has seen a combined 750,000 shares changed hands on the counter so far on BSE and NSE.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%