Good Q4 result boosts RIL counter

Reliance Industries gained 2.06% to Rs 1,446.70 at 9:45 IST on BSE after consolidated net profit excluding exceptional items rose 16.6% to Rs 8046 crore on 45.2% growth in turnover to Rs 92889 crore in Q4 March 2017 over Q4 March 2016.

The result was announced after market hours yesterday, 24 April 2017.

Meanwhile, the S&P BSE Sensex was up 130.39 points or 0.48% at 29,798.80.

On the BSE, 2.09 lakh shares were traded on the counter so far as against the average daily volumes of 2.01 crore shares in the past one quarter. The stock had hit a high of Rs 1,465 in intraday trade, which is its highest level since 17 January 2008. The stock hit a low of Rs 1,441.05 so far during the day. The stock had hit a 52-week low of Rs 925.70 on 23 May 2016.

The large-cap company has equity capital of Rs 3251.33 crore. Face value per share is Rs 10.

Reliance Industries' (RIL) increase in revenue in Q4 was primarily on account of increase in prices of refining and petrochemical products on the back of higher oil prices. Turnover was also boosted by robust growth in retail business. Gross refining margin (GRM) rose to $11.5 per barrel in Q4 March 2017 from $10.8 per barrel each in Q3 December 2016 and in Q4 March 2016.

Earning per share (EPS) excluding exceptional items rose to Rs 27.3 in Q4 March 2017 compared with Rs 25.5 in Q3 December 2016 and Rs 23.4 in Q4 March 2016.

Outstanding debt as on 31 March 2017 was Rs 196601 crore ($30.3 billion) compared to Rs 180665 crore as on 31 March 2016. Cash and cash equivalents as on 31st March 2017 were at Rs 77226 crore ($11.9 billion) compared to Rs 89969 crore as on 31 March 2016.

The board of directors recommended a dividend of Rs 11 per share for the financial year ended 31 March 2017.

Meanwhile, RIL said, Reliance Jio Infocomm, a subsidiary of RIL crossed 50 million subscribers in just 83 days, and 100 million in 170 days, adding at an average rate of 6 lakh subscribers per day. Jio continues its rapid ramp-up of subscriber base and as of 31 March 2017, there were 10.89 crore subscribers on the network.

Reliance Industries (RIL) is India's largest private sector company. RIL's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and telecommunications.

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