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RIL Q2 consolidated net rises 12.5% to Rs 8,109 cr; Jio loss at Rs 271 cr
Posted on 13th October 2017
Buoyed by higher margins from its core refining and petrochemical businesses, oil-to-telecoms conglomerat Reliance Industries today reported a 12.5% increase in second-quarter consolidated net profit at Rs 8,109 crore as compared with last year’s figure of Rs 7,206 crore.

Consolidated revenue increased by 24% to Rs 1,01,169 crore during the quarter ending September as against Rs 81,651 crore in year-ago period.

Profit on a standalone basis, which includes the company's refining, petrochemicals and oil and gas exploration businesses, stood at Rs 8,265 crore, compared with Rs 7,704 crore a year earlier, a 7% increase.

Reliance Jio's net loss, however, widened to Rs 271 crore as against Rs 21 crore in the previous quarter ending June.

The gross refining margin (GRM) was at $12 per barrel during the quarter under review as against $10.10 per barrel in year-ago period.

On Friday, the RIL scrip on BSE closed 0.5% higher at Rs 876.70.

Ahead of its quarterly earnings announcement, RIL’s shares jumped nearly 4% on Thursday. The company's market valuation zoomed to its highest ever, by Rs 20,328.1 crore at Rs 5,52,515.10 crore.

Related Companies: Reliance Industries Limited (RIL)   

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