RIL advances after strong Q3 earnings

Reliance Industries rose 1.71% to Rs 945.25 at 9:16 IST on BSE after consolidated net profit rose 25.5% to Rs 9445 crore on 25.7% growth in net sales to Rs 99810 crore in Q3 December 2017 over Q3 December 2016.

The result was announced after market hours on Friday, 19 January 2018.

Meanwhile, the S&P BSE Sensex was up 91.56 points or 0.26% at 35,603.14.

On the BSE, 44,000 shares were traded on the counter so far as against average daily volumes of 5.50 lakh shares in the past one quarter. The stock had hit a high of Rs 949.90 and a low of Rs 943.25 so far during the day. The stock had hit a record high of Rs 959 on 24 November 2017 and a 52-week low of Rs 507.03 on 23 January 2017.

The stock had underperformed the market over the past one month till 19 January 2018, gaining 0.58% compared with the Sensex's 4.95% rise. The stock had also underperformed the market over the past one quarter, advancing 2.09% as against the Sensex's 9.64% rise. The scrip had, however, outperformed the market over the past one year, surging 79.8% as against the Sensex's 30.04% rise.

The large-cap company has equity capital of Rs 6333.92 crore. Face value per share is Rs 10.

Mukesh D. Ambani, Chairman and Managing Director, RIL said that the quarter marks the culmination of its petrochemical expansion projects and the first positive net profit contribution from its newest business line - Digital Services (Jio). Jio's strong financial result reflects the fundamental strength of its business, significant efficiencies and right strategic initiatives, he said. Ambani further added that the company is excited about the prospects of its energy and consumer businesses due to strong growth in Indian markets and constructive macro environment.

RIL is India's largest private sector company. The company's activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, retail and 4G digital services.

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