Key highlights of Reliance Industries Ltd's Q1 results
For the quarter ended 30th June 2016, RIL achieved a turnover of Rs 71,451 crore ($10.6 billion), a decrease of 13.4%, as compared to Rs 82,509 crore in the corresponding period of the previous year.
Reliance Industries Ltd said that its consolidated net profit for the first quarter ended June 30, 2016 rose by 18.1% to Rs 7,113 crore.
For the quarter ended 30th June 2016, RIL achieved a turnover of Rs 71,451 crore ($10.6 billion), a decrease of 13.4%, as compared to Rs 82,509 crore in the corresponding period of the previous year. Decline in revenue was led by the 26% Y-o-Y decline in benchmark (Brent) oil price which averaged at $ 45.6 per barrel (bbl) in 1Q FY17 as compared to $ 61.9/bbl in the corresponding period of the previous year. "Impact of lower prices was partially offset by higher volumes in refining and petrochemicals segments," RIL said in a statement.
The company further said that its cost of raw materials declined by 25.5% to Rs 37,469 crore ($ 5.5 billion) from Rs 50,305 crore on Yo-Y basis primarily on account of decline in feedstock prices.
Revenue (turnover) decreased by 16.7% to Rs 59,493 crore ($ 8.8 billion)
Exports decreased by 9.4% to Rs 33,282 crore ($ 4.9 billion)
PBDIT increased by 18.0% to Rs 12,850 crore ($ 1.9 billion)
Profit Before Tax increased by 20.7% to Rs 9,976 crore ($ 1.5 billion)
Cash Profit increased by 13.8% to Rs 9,734 crore ($ 1.4 billion)
Net Profit increased by 18.5% to Rs 7,548 crore ($ 1.1 billion)
Gross Refining Margin (GRM) of $ 11.5/bbl for the quarter
Basic earnings per share (EPS) for the quarter ended 30th June 2016 was Rs 24.1 as against Rs 20.5 in the corresponding period of the previous year.
Outstanding debt as on 30th June 2016 was Rs 1,86,692 crore ($ 27.6 billion) compared to Rs 1,80,388 crore as on 31st March 2016.
Cash and cash equivalents as on 30th June 2016 were at Rs 90,812 crore ($ 13.4 billion) compared to Rs 89,966 crore as on 31st March 2016. These were in bank deposits, mutual funds, CDs and Government Bonds and other marketable securities.