RIL Q3 result HIGHLIGHTS: Reliance Industries posts net profit of Rs 11,640 cr, beats estimates

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Updated:Jan 17, 2020 7:27:24 pm

Mukesh Ambani's RIL on Friday reported a profit at Rs 11,640 crore in the third quarter ended December 2019 beating street estimates.

Mukesh ambani enters in e-commerce market, RIL opens My Jio Mart to take on Amazon, FlipkartRIL is expected to record consolidated revenue of Rs 1.45 lakh crore and net profit of Rs 11,435 crore for the fiscal this quarter, according to a Bloomberg poll.

RIL Q3 result HIGHLIGHTS: Mukesh Ambani’s Reliance Industries on Friday reported 13.5 per cent rise in Q3 net profit to a record Rs 11,640 crore compared to Rs 10,251 crore profit in the same period a year back on higher earnings from retail and telecom business, beating street estimates. However, the consolidated revenue fell 1.4 per cent to Rs 168,858 crore, the company said in a statement. RIL was expected to record consolidated revenue of Rs 1.45 lakh crore and net profit of Rs 11,435 crore for the fiscal this quarter, according to a Bloomberg poll. The EBITDA was recorded at Rs 22,386 crore in the third quarter of last year. The margin was recorded at 14.6 per cent. The consumer businesses, which till last year accounted for a quarter of the company’s pre-tax profit, contributed a third of EDITDA in the third quarter. The retail business EBITDA rose 58 per cent to Rs 2,389 crore while telecom arm Jio posted a net profit of Rs 1,350 crore. Reliance Jio posted Rs 1,350 crore profit in the October-December quarter.  “The third quarter results for our energy business reflects the weak global economic environment and volatility in energy markets. Within our O2C chain, downstream petrochemicals profitability was impacted by weak margins across products  with subdued demand in well-supplied markets. Refining segment performance improved in a difficult operating  environment given our continuous focus on cost positions, high operating rates and product placement,” Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.Meanwhile, shares of Reliance Industries on Friday closed nearly 3 per cent higher ahead of scheduled declaration of its December 2019 quarter earnings later in the day. The scrip of the country’s most valued firm jumped 2.79 per cent to close at Rs 1,580.65 on the BSE.

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Highlights

    19:14 (IST)17 Jan 2020
    RIL shares closed up today

    Shares of Reliance Industries on Friday closed nearly 3 per cent higher ahead of scheduled declaration of its December 2019 quarter earnings later in the day. The scrip of the country's most valued firm jumped 2.79 per cent to close at Rs 1,580.65 on the BSE. During the day, it climbed 3 per cent to Rs 1,584.80. At the NSE, it gained 2.80 per cent to close at Rs 1,581. With the rise in its share price, the company's market valuation also moved up by Rs 27,243.11 crore to Rs 10,02,009.11 crore on the BSE.

    18:46 (IST)17 Jan 2020
    Consumer business expected to drive growth

    “Consumer business will drive growth this quarter as they benefitted from the favorable festive season. Numbers in Jio will also be healthy due to tariff hikes. A muted PAT growth of around 8-9% is expected compared to last year which may not surprise the Street,” Nirali Shah, Senior Research Analyst, Samco Securities said.

    18:37 (IST)17 Jan 2020
    RIL expected to deliver muted growth

    “RIL is expected to deliver muted growth especially because of weakness from the petchem and refinery businesses which should be offset by the stupendous growth from the telecom and retail segments. Since, the petchem spreads and refining margins have been collapsing, the core businesses of this ~10Lakh Cr Market cap group should report lackluster growth. We feel that the supply glut in the market added pressure on the petchem margins while the GRMs are also expected to marginally decline to $9.2/bbl,” Nirali Shah, Senior Research Analyst, Samco Securities said.

    18:29 (IST)17 Jan 2020
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    18:23 (IST)17 Jan 2020
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    18:20 (IST)17 Jan 2020
    RIL Q3 results: Bloomberg estimates

    RIL is expected to clock in consolidated revenue of Rs 1.45 lakh crore and net profit of Rs 11,435 crore for the fiscal this quarter, according to a Bloomberg poll.

    18:18 (IST)17 Jan 2020
    Reliance Jio, retail expected to shine

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    13:34 (IST)17 Jan 2020
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    12:26 (IST)17 Jan 2020
    Jeff Bezos promises 1 million new jobs in India even after Piyush Goyal’s mega snub to Amazon

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    12:24 (IST)17 Jan 2020
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    12:24 (IST)17 Jan 2020
    RIL Q3 result: Mukesh Ambani’s refining, petro biz may post muted numbers; this could offset weakness

    The weakness in Mukesh Ambani-led Reliance Industries’ refining and petrochemical business is expected to be offset by gains made by Jio telecom and retail segment in the December quarter of FY20, analysts said. 

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    12:23 (IST)17 Jan 2020
    Now, foreign debt costlier for Indian companies; Dollar-rupee hedging costs rise by 4.8%

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    12:21 (IST)17 Jan 2020
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    12:20 (IST)17 Jan 2020
    Sensex, Nifty trade flat; Bharti Airtel, RIL top gainers, Vodafone Idea tanks 39% post SC verdict

    Domestic equity indices Sensex and Nifty were trading flat on Friday as investors waited for further cues post-signing of US-China initial trade deal. On Thursday Supreme Court dismissed a review petition filed by telecom companies seeking relief from the Adjusted Gross Revenue (AGR) verdict after which the shares of Vodafone Idea tanked as low as 39.30 per cent to trade at Rs 3.66 apiece on BSE.

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