Reliance Industries declined 0.45% to Rs 1,020.15 at 9:25 IST on BSE after consolidated net profit rose 4.44% to Rs 6222 crore on 25.93% decline in total income to Rs 78962 crore in Q1 June 2015 over Q1 June 2014.
The result was announced after market hours on Friday, 24 July 2015.
Meanwhile, the S&P BSE Sensex was down 204.70 points or 0.73% at 27,907.61.
The stock hit a high of Rs 1,035 and a low of Rs 1,013.35 so far during the day. The stock had hit 52-week high of Rs 1,067 on 23 July 2015. The stock had hit 52-week low of Rs 796.75 on 30 March 2015.
On BSE, so far 67,159 shares were traded in the counter as against average daily volume of 4.35 lakh shares in the past one quarter.
Reliance Industries (RIL) said the decline in revenue was led by the 43.5% decline in benchmark (Brent) oil price in Q1 June 2015 over Q1 June 2014.
The company's profit before depreciation, interest and tax (PBDIT) increased by 9.8% to Rs 12095 crore in Q1 June 2015 over Q1 June 2014. Profit Before Tax increased by 5.5% to Rs 8152 in Q1 June 2015 over Q1 June 2014. Cash Profit increased by 4.3% to Rs 9367 crore in Q1 June 2015 over Q1 June 2014.
Outstanding debt as on 30th June 2015 was Rs 170814 crore compared to Rs 160860 crore as on 31st March 2015. Cash and cash equivalents as on 30th June 2015 were at Rs 87391 crore.
The company's gross refining margin (GRM) for crude refining rose to $10.40 per barrel in Q1 June 2015 from $10.1 per barrel in Q4 March 2015 and $8.70 per barrel in Q1 June 2014. RIL said that strong gasoline cracks led by robust demand growth, lower energy cost and favourable crude differentials helped boost refining margins.
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries said: The financial performance reflects the benefits of integrated hydrocarbon chain activities in a benign oil price environment. The sharp increase in demand for transportation fuels helped to realize strong refining margins. The petrochemicals business recorded a strong quarterly performance supported by high operating rates and margin strength in the ethylene chain. In retail business, the company has reached significant milestones over the past couple of years and continue the high growth trajectory for this business.
As the company look forward, it is committed to accelerating the growth of operating EBITDA. The company is leveraging the strength of integrated value chains to deliver sustainable growth. Large investments in petrochemicals and refining businesses are based on advantaged feedstocks to enable to stay among low-cost, competitive producers in an evolving hydrocarbon chain environment. The company maintained rapid progress in project construction activity at Jamnagar. The company's world-scale petcoke gasification project and ethylene cracker are on track for planned start-up in 2016. Ambani further said that Reliance Jio Infocomm is in the final lap of launch of broadband services which will bring about a positive transformation in the lives of millions of Indians.
RIL is a diversified firm having presence in oil exploration, petrochemicals, retail and telecom sectors.
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