Reliance Industries Announces Q2 2018 Results; Meets Analyst’s Estimates

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    The Reliance Industries Limited (RIL) announced its September 2018 quarter results and it meets analyst's estimates. The company reported a net profit of Rs 8,859 crore for September 2018 as against Rs 8,820 crore during the previous quarter (quarter-on-quarter basis), up by 0.44 percent.

    Reliance Industries Announces Q2 2018 Results; Meets Analyst’s Estimates
     

    Revenue from operations stood at Rs 98,862 crore for the quarter ending September 2018 as against Rs 95,472 crore during the previous quarter. The company's revenue surged up by 5.5 percent to touch Rs 96,167 crore on a quarterly basis.

    The gross refining margins of RIL stood at $9.50/bbl. There was a decline in the margins as the company could not fully capitalize during the quarter due to rallying crude prices in the global market. The closing of its Jamnagar unit for a period of two weeks impacted on the overall refining business output.

    The Mukesh Ambani led company reported that its telecom arm - Reliance Jio's net profit for the second quarter of 2018 stood at Rs 681 crores. The telecom firms revenue crossed Rs 10,000 crore mark.

    The scrips of Reliance Industries Limited were down by 1.27% at Rs 1,148.90 during today's close in BSE.

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