Reliance Industries posts good Q1 results
Reliance Industries reported its results for the quarter ended June 30, 2018 on Friday after market hours. The consolidated revenue for the quarter came in at Rs. 1,41,699 crore, registering 56.5 per cent yoy increase. This was primarily on account of higher realizations of refining and petrochemical products led by 49 per cent yoy increase in Brent oil price.
Increased revenues also reflect higher volumes with start-up and stabilization of petrochemicals projects. Robust growth in consumer businesses provided a further boost to revenues. Reliance Retail recorded a sharp 124 per cent increase in revenue to Rs. 25,890 crore and Digital Services business contributed Rs. 9,653 crore for the quarter.
Exports were higher by 41.5 per cent at Rs. 52,501 crore vs Rs. 37,111 crore in the corresponding period of the previous year due to higher volumes and product prices in petrochemical business and higher realization in the refining business.
Its PBDIT increased by 52.8 per cent to Rs. 22,449 crore and net profit increased by 17.9 per cent to Rs. 9,459 crore during Q1FY19.
During the quarter, under its digital service business, the total subscriber base stood at 215.3 million. Also, ARPU during the quarter was 134.5 / subscriber per month.
Jio has continued its strong subscriber growth trend with net addition during the quarter of 28.7 million (as against 26.5 million in the previous quarter). This is the highest net addition in any quarter since the launch of commercial services.
On Monday, the stock opened at Rs. 1,136 per share and touched an intraday high and low of Rs. 1157.55 and Rs. 1126.60, respectively, on the BSE