RIL shares up over 1 pc post earnings

Shares of Reliance Industries today rose by over 1 per cent even as the company's December quarter net profit dipped by 4.5 per cent.
RIL's scrip ended the day with a gain of 1.25 per cent at Rs 879.85 on the BSE. In intra-day trade, it went up by 1.92 per cent to Rs 885.75 apiece. At the NSE, RIL shares rose by 1.16 per cent to settle at Rs 879.75.
On the volume front, 4.60 lakh shares of the company changed hands at the BSE, while more than 30 lakh shares were traded at the NSE during the day.

After markets closed on Friday, Reliance Industries said December quarter net profit dipped by 4.5 per cent to Rs 5,256 crore. This was its first profit decline in nine quarters. Earnings were affected by a steep fall in crude oil prices that hurt core refining business and margins.
Net profit in October-December 2013 quarter stood at Rs 5,502 crore, or Rs 18.7 a share while profit was Rs 5,972 crore, or Rs 20.3 per share, in June-September 2014 quarter.
RIL, the operator of world's biggest oil-refinery complex, earned USD 7.3 for turning every barrel of crude oil into fuel in third quarter as compared to USD 7.6 a barrel gross refining margin (GRM) a year ago. The GRM in December 2014 quarter was also lower than USD 8.3 per barrel in the previous July-September quarter.

Meanwhile, buoyed by diesel price decontrol, Reliance Industries has reopened about one-fifth of its 1,400 fuel stations, which were shut down when state firms were selling heavily subsidised fuel.