In a quarter in which the economy was recovering from the disruption caused by the pandemic, RIL’s performance was somewhat mixed.
The oil- to- retail conglomerate’s consolidated revenue from operations for the quarter were down 22% y-o-y to Rs 1.23 lakh crore. The RIL stock, which is trading below its record September highs, closed at Rs 2,047.95 on Friday, down 2.45%, on a day when the markets were weak.
In a quarter in which the economy was recovering from the disruption caused by the pandemic, RIL’s performance was somewhat mixed. Jio Platforms fared reasonably well ; the subsidiary has received Rs 1.52 lakh crore from investors for a combined stake of 32.88%.
The revenues for the oil-to-chemicals segment rose 10% sequentially driven by volume increases in the transportation fuels, PTA and polyester as also by better realisations across polymers, intermediates and polyester. RIL chairman Mukesh Ambani observed the reorganisation of the O-2-C segment would further the company’s new energy and new materials businesses which was aimed at clean and green development. The new structure, Ambani said, would enable RIL to pursue opportunities for growth with strategic partnerships. “The O2C platform will increasingly move further downstream and become closer to customers,” he added.
RIL’s outstanding debt at the end of December,2020 was Rs 257,413 crore while the cash and cash equivalents stood at Rs 2,20,524 crore.
The company said the remainder of the capital commitment receivables, on account of the rights issue, were in excess of net debt levels at the end of the quarter.