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Reliance shares gain on good Q2 numbers

Reliance shares gain on good Q2 numbers
Reliance Industries: Quotes, News
BSE 1363.30BSE Quote5.65 (0.41%)
NSE 1364.15NSE Quote6.15 (0.45%)
Shares in India's largest private sector company, Reliance Industries rallied more then 1%, following a good set of results reported by the company.

The share was last trading at Rs 880, up 1.12% on the BSE.

Reliance Industries reported net profits that beat estimates, at Rs 5490 crores for Q2 2013-2014. Revenues for Q2 ending Sept 30, 2013 were placed at Rs 106,523 crores, up 14.2%.

Operating profit before other income and depreciation increased by 2.3% on a Y-o-Y basis from Rs 14,588 crore to Rs 14,924 ($2.4billion) crore due to higher margins in the refining and petrochemicals business.

The Petchem margin, which came at 10.05 per cent, is extremely positive for the company.

The gross refining margins at the company came in at $7.7 billion.

The retail business turnover rose 41 percent Y-o-Y to Rs 6,930 crore for the first six months of the financial year to Rs 3,456 crore in the second quarter. "The business operates 10 million sq. ft. of retail space with the addition of 58 stores across all formats. It now operates over 1,550 stores across 136 cities in India," the company said in its release.

Read more about: reliance q22014 bse
Story first published: Tuesday, October 15, 2013, 10:03 [IST]
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