Reliance Industries Q2 results profit at Rs 6,561 cr: Top 10 highlights

Mukesh Ambani-led Reliance Industries Q2 result was revealed on Friday. The oil and gas major logged a better-than-expected 12.5 percent rise in its fiscal second-quarter profit, helped by stronger margins in its core refining business – standalone net profit increased by 14.3 % to Rs 6,561 crore ($ 1.0 billion); consolidated net profit increased by 12.5 % to Rs 6,720 crore ($ 1.0 billion). Here are the top 10 highlights:

1. Turnover
For the quarter ended 30th September 2015, Reliance Industries  achieved a turnover of Rs 75,117 crore ($ 11.5 billion), a decrease of 33.8%, as compared to Rs 113,396 crore in the corresponding period of the previous year.

2. Revenues
Decline in revenue was led by the 50.6% Y-o-Y decline in benchmark (Brent) oil price.

3. Exports
Exports from India operations were lower by 35.5% at Rs 42,636 crore ($ 6.5 billion) as against Rs 66,065 crore in the corresponding period of the previous year due to lower product prices in line with lower crude oil prices.

4. Employee costs
Employee costs were higher by 13.4% at Rs 1,786 crore ($ 272 million) as against Rs 1,575 crore in corresponding period of the previous year due to increased employee base in subsidiaries.

5. Operating profit
Operating profit before other income and depreciation increased by 9.0% on a Y-o-Y basis from Rs 9,818 crore to Rs 10,704 crore ($ 1.6 billion). Strong operating performance from refining and petrochemicals business coupled with favorable exchange rate movement was partially offset by lower contribution from Oil & Gas business.

6. Interest cost
Interest cost was at Rs 972 crore ($ 148 million) as against Rs 997 crore in corresponding period of the previous year.

7. Profit after tax
Consolidated profit after tax including exceptional items was higher by 12.5% at Rs 6,720 crore ($ 1.0 billion) as against Rs 5,972 crore in the corresponding period of the previous year – standalone net profit increased by 14.3 % to Rs 6,561 crore ($ 1.0 billion), at record level

8. Earnings per share (EPS)
Basic earnings per share (EPS) for the quarter ended 30th September 2015 was Rs 22.8 as against Rs 20.3 in the corresponding period of the previous year.

9. Outstanding debt
Outstanding debt as on 30th September 2015 was Rs 172,765 crore ($ 26.3 billion) compared to Rs 160,860 crore as on 31st March 2015.

10. RIL rating
RIL retained its domestic credit ratings of AAA from CRISIL and FITCH and an investment grade rating for its international debt from Moody’s as Baa2 and BBB+ from S&P.