RIL shares end flat after earnings

Shares of Reliance Industries Ltd ended flat today even as the company posted a better-than-expected 1.7 per cent rise in second quarter net profit.
RIL's scrip settled 0.34 per cent up at Rs 961.10 on the BSE. During the day, it gained 2.31 per cent to Rs 980.
At the NSE, the stock closed the day 0.27 per cent up at Rs 960.45.
On the volume front, 4.09 lakh shares of the company changed hands at the BSE, while over 43 lakh shares were traded at the NSE during the day.
Traders said that the stock settled flat on the back of an overall sluggish broader market.

RIL yesterday posted 1.7 per cent rise in its second quarter net profit, helped by strong growth in refining margins which neutralised slump in oil and gas earnings.

Net profit in July-September at Rs 5,972 crore, or Rs 20.3 per share, was 1.7 per cent higher than Rs 5,873 crore, or Rs 20 a share earning in the same period last fiscal.
RIL, the operator of world's biggest oil-refinery complex, earned USD 8.3 for turning every barrel of crude oil into fuel in Q2 as compared to USD 7.7 a barrel gross refining margin a year ago.
The GRM, however, was lower than USD 8.7 per barrel in the previous April-June quarter.

Its turnover dropped 4.3 per cent to Rs 1,13,396 crore due to lower crude oil prices and volumes mainly in the refining and oil and gas business.
In the stock market, the BSE benchmark Sensex ended at 26,349.33, down 34.74 points.