Reliance Industries (RIL) came out with a stronger than expected results for thequarter ended September 2008 with topline rising by 40% and bottomline increasingby 7%. The refining margins of the company was lower at USD13.4/barrel forSeptember 2008 quarter compared to USD 13.6/barrel in September 2007 quarterand USD 15.7/barrel in June 2008 quarter. The operating margins fell by 350 bps.Commenting on the results, Mukesh D. Ambani, CMD, Reliance Industries said: "Ithas been an exciting quarter at Reliance Industries. We have started production ofoil from the KG basin and soon will emerge as key hydrocarbons major. AtReliance, we are at the final leg of capital expenditure in our key businesses andwill see cash flows from these investments in the following quarters. Leadingeconomies across the globe are passing through some unprecedented times. Ourbusinesses are gearing to meet these emerging challenges."During the quarter ended September 30, 2008, Reliance chemicals , ReliancePolyolefins, Reliance Energy and Project Development, Reliance Polymers (India),Reliance Universal Enterprises, Reliance Global Energy Services (Singapore),Reliance One Enterprises and Reliance Aromatics and Petrochemicals havebecome subsidiaries of the Company.
STANDALONE QUARTERLY RESULTS
For the quarter ended September 2008, the sales of the company grew 40%to Rs 44787 crore. Operating margins fell by 350 basis points to 14.5%leading to a 12% growth in the operating profits at Rs 6474 crore.The average crude prices of Brent, WTI, and Dubai for three months periodended September 2008 were US$ 117.98/bbl, US$ 116.87/bbl and US$113.47/bbl as against US$ 74.68/bbl, US$ 75.37/bbl and US$ 69.97/bbl for thecorresponding previous quarter.Other income for the quarter declined 10% to Rs 151 crore leading the growthin PBDIT at 11% to Rs 6625 crore. Interest costs jumped 70% to Rs 437 croreand depreciation increased 12% to Rs 1264 crore. The PBT of the companyraised 8% to Rs 4924 crore. Considering a marginal increase in effective taxrate the resultant PAT was 7% higher at Rs 4122 crore
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