Reliance Industries rose 1.16% to Rs 886.85 at 09:29 IST on BSE after consolidated net profit rose 12.79% to Rs 8097 crore on 19.42% rise in total income to Rs 93812 crore in Q2 September 2017 over Q2 September 2016.
The result was announced after market hours on Friday, 13 October 2017.Meanwhile, the S&P BSE Sensex was up 227.85 points or 0.7% at 32,660.54
On the BSE, 1.55 lakh shares were traded on the counter so far as against the average daily volumes of 4.27 lakh shares in the past one quarter. The stock had hit a high of Rs 891.70 so far during the day, which is a record high. The stock hit a low of Rs 877 so far during the day. The stock had hit a 52-week low of Rs 466 on 9 November 2016.
The large-cap company has equity capital of Rs 6332.55 crore. Face value per share is Rs 10.
Reliance Industries' (RIL) operating profit before other income and depreciation increased by 39.4% to Rs 15565 crore in Q2 September 2017 over Q2 September 2016. Strong operating performance was driven by the refining, petrochemicals, retail businesses and positive contribution from digital services starting from this quarter.
Gross refining margin (GRM) rose to $12 per barrel in Q2 September 2017 from $11.90 per barrel in Q1 June 2017 and $10.10 in Q2 September 2016.
The capital expenditure for the quarter ended 30 September 2017 was Rs 15653 crore including exchange rate difference capitalization. Capital expenditure was principally on account of ongoing projects in the petrochemicals and refining business at Jamnagar and digital services business.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said the Q2 results reflect strong underlying fundamentals of refining and petrochemicals businesses. Sustained demand growth coupled with supply disruptions further tightened demand-supply balances globally during the quarter. Retail business has delivered broad based, sustainable and profitable growth through improved operational excellence.
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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