RIL Q2 Net Profits Rises To Rs 6720 Crores; GRMs Remain Upbeat

Posted By:
Subscribe to GoodReturns

Reliance Industries surprised analysts and the markets with a sharp increase in net profits for the quarter ending Sept 20, 2015 at Rs 6720 crores.

Analysts on an average were expecting net profits at around Rs 6000 crores. The sharp increase in net profits was largely on the back of superb refining margins with the GRM (Gross Refining Margins) coming in at $10.60.

RIL Q2 Net Profits Rises To Rs 6720 Crores; GRMs Remain Upbeat
GRMs is the margins for conversion of crude oil into fuel. The retail and the petchem division also performed well, making a good quarter for Reliance Industries.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "We achieved record levels of EBITDA and profits for the quarter, underscoring our ability to optimally utilize our assets across the value chain to leverage favorable
market conditions.

Refining business performance was notable, as it benefited from a combination of high utilization levels, advantageous crude market opportunities and strong global fuels demand. Petrochemicals segment performance reflects strong volume growth, product improvement and lower energy costs,"

The share price of Reliance may result positively to results on Monday.

Read more about: reliance
Story first published: Saturday, October 17, 2015, 7:31 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'


Get Latest News alerts from Goodreturns