Reliance Q4 Net profits At Rs 7320 Crores; GRMs At $10.80 Per Barrel

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Reliance Industries has posted another quarter of good results with the company reporting a net profit of Rs 7320 crores for the quarter ending March 31, 2016.

Reliance Q4 Net profits At Rs 7320 Crores; GRMs At $10.80 Per Barrel
During the quarter under review, the company also posted a strong gross refining margins (GRMs ) at USD 10.80 per barrel. Petro chemical margins was better-than-expected at 13 percent in Q4 and retail business continued to expand rapidly.

Overall, the company's results beat market expectations on most count and the shares may open higher for trading on Monday.

Commenting on the results, Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited said, "FY 2015-16 has been a year of outstanding achievement for our downstream hydrocarbon businesses, notwithstanding persisting global economic uncertainty.

Refining and petrochemicals delivered record operating and financial performances. Our refineries sustained double-digit GRMs and record levels of utilization through the year.

Our balanced petrochemical portfolio, across products and feedstocks, helped capture the benefit of vastly improved naphtha cracking economics and favourable polymer markets. Reliance Retail continued its path of profitable expansion while maintaining a robust revenue growth of 23 percent during the year. Looking ahead, we are focused on ensuring a flawless start- up and stabilisation of the new growth platforms across our hydrocarbon and consumer businesses. The commercial roll-out of our Jio services this year will digitally enable a billion Indians and propel growth for India and Reliance."

Shares in Reliance Industries last closed at Rs 1037 on the NSE.

GoodReturns.in

Read more about: reliance
Story first published: Saturday, April 23, 2016, 9:00 [IST]
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