RIL posts decent Q3 numbers, stock slides 1.21 per cent

Reliance Industries Ltd. reported its results for the quarter ended December 31, 2016, post market hours today.
 
The company's total sales for Q3FY17 came in at Rs 66,606 crore, which represent a 3.52 per cent sequential increase and 8.97 per cent YoY increase.
 
Its operating profit (EBIT) amounted to Rs 8,527 crore and its EBIT margin stood at 12.8 per cent.
 
The company reported a PAT of Rs 8,022 crore, which represents a sequential QoQ increase of 4.13 per cent and a YoY increase of 9.97 per cent.
 
The company's stock opened for trading at Rs 1091.4 on the BSE, but fell 1.21 per cent to close at Rs 1077.
 
The company's 3QFY17 revenues for the Oil & Gas segment decreased by 31.0 per cent Y-o-Y to Rs 1,215 crore. The decline in revenue was led by lower upstream production and lower domestic gas price realisation.
 
RIL’s exports of refined products from India was at $ 4.9 billion during the 3Q of FY17 as compared to $ 4.8 billion in 3QFY16. In terms of volume, exports of refined products were 10.6 MMT during 3QFY17 as compared to 10.9 MMT in 3QFY16.
 
In December 2016, Reliance Jio Infocomm Ltd (RJIL), a subsidiary of RIL), became the world’s fastest growing technology company crossing 50 million subscribers in a record 83 days. RJIL also announced the launch of ‘Jio Happy New Year Offer’.
 
Reliance Industries Ltd is India's largest private sector enterprise, with businesses in the energy and materials value chain. The company operates under different business segments, including refining, petrochemicals, exploration, organised retail textiles, etc. The company recently made a buzz in the telecom space by launching its own telecom arm under the brand name ‘Reliance Jio.’