RIL slips after Q3 results

Reliance Industries fell 0.42% to Rs 880.80 at 09:15 IST on BSE after net profit rose 0.2% to Rs 5511 crore on 10.5% growth in revenue to Rs 106383 crore in Q3 December 2013 over Q3 December 2012.

The result was announced after market hours on Friday, 17 January 2014.

Meanwhile, the BSE Sensex was down 8.08 points, or 0.04%, to 21,055.54.

On BSE, so far 21,000 shares were traded in the counter, compared with an average volume of 2.94 lakh shares in the past one quarter.

The stock hit a high of Rs 888.85 and a low of Rs 879 so far during the day. The stock hit a 52-week high of Rs 954.80 on 21 January 2013. The stock hit a 52-week low of Rs 765 on 28 March 2013.

The stock had outperformed the market over the past one month till 17 January 2014, rising 5.44% compared with the Sensex's 2.19% rise. The scrip had, however, underperformed the market in past one quarter, rising 0.60% as against Sensex's 3.17% rise.

The large-cap company has an equity capital of Rs 3231.51 crore. Face value per share is Rs 10.

Reliance Industries (RIL)'s profit before depreciation, interest and taxation (PBDIT) declined 1.8% to Rs 9927 crore in Q3 December 2013 over Q3 December 2012. RIL's non-operational income jumped 32.47% to Rs 2305 crore in Q3 December 2013 over Q3 December 2012.

RIL's gross refining margin (GRM) declined to $7.6/barrel from $7.7/barrel in Q2 September 2013 and $9.6/barrel in Q3 December 2012.

Commenting on the company's Q3 performance, Mukesh D. Ambani, CMD, RIL said, "Reliance's robust refining configuration enabled it to deliver stable refining profits in Q3 December 2013, against the backdrop of declining regional benchmark margins. Even as we invest to further strengthen our energy businesses, this quarter demonstrates the outstanding quality of our refining and petrochemical business resources and their ability to deliver creditable performance in a period marked by cyclicality and uncertainties. We are happy to announce the commissioning of our new polyester facility in Silvassa, the first amongst a series of projects that underpin RIL's industry-leading competitive position. Our retail business continues on its rapid growth trajectory with 38% revenue growth during the quarter."

RIL's outstanding debt as on 31 December 2013 was Rs 81330 crore compared to Rs 72427 crore as on 31 March 2013.

RIL had cash and cash equivalents of Rs 88705 crore as on 31 December 2013. These were in bank deposits, mutual funds, CDs and Government securities/bonds. RIL is debt free on a net basis as at 31 December 2013.

The Ministry of Petroleum and Natural Gas notified the Domestic Natural Gas Pricing Guidelines, 2014 for all domestically produced gas, including conventional, shale, coal bed methane (CBM). These guidelines will be applicable from 1 April 2014.

RIL's activities span exploration and production of oil and gas, petroleum refining and marketing, petrochemicals (polyester, fibre intermediates, plastics and chemicals), textiles, retail and broadband services.

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