NEW DELHI: Shares of Reliance Industries<\/a> (RIL) cracked over 4 per cent in Monday’s early trade after the company on Friday posted a 15 per cent year-on-year (YoY) fall in the second-quarter net profit as the pandemic hit sales of most of its products. 新德里:股价信实工业公司(瑞来斯)了4%以上在周一的早盘交易后,该公司周五公布同比增长15%(同比)第二季度净利润下降大流行的大部分产品的销售。
The scrip traded 4.31 per cent down at Rs 1,965.75 at around 9.45 am (IST), while the benchmark BSE Sensex traded 0.38 per cent lower at 39,462
However, the company said the demand has recovered in its oil-to-chemicals and retail businesses<\/a>.
Consolidated net profit attributable to owners slipped to Rs 9,567 crore in July-September compared with Rs 11,262 crore a year back.
A plunge in fuel demand<\/a> after the raging pandemic forced people to stay home and stifled the economy, dealing a body blow to the firm’s traditional cash cow oil refining and petrochemicals<\/a>, even as consumer-facing businesses, which account for 35 per cent of the oil-to-telecom-to-retail conglomerate's revenues, continued to do well.
Revenue from the petrochemicals<\/a> segment declined 23 per cent to Rs 29,665 crore and pre-tax profit dropped 33 per cent at Rs 5,964 crore. Refining EBITA almost halved to Rs 3,002 crore as revenue slumped 36 per cent.
The firm’s twin refineries earned $5.7 per barrel on turning every barrel of crude oil into fuel, as compared to a gross refining margin (GRM) of $9.4 per barrel last year.
Its digital services, which includes the telecom arm Jio, saw standalone net profit swell to Rs 2,844 crore from Rs 990 crore in Q2FY20.
Commenting on Q2 results, Chairman Mukesh Ambani<\/a> said the company delivered a strong performance compared to the previous quarter with recovery in petrochemicals and the retail venture along with sustained growth in the digital services business. He said various businesses were returning to normal.
“Domestic demand has sharply recovered across our O2C business and is now near pre-Covid level for most products. Retail business activity has normalised with strong growth in key consumption baskets as lockdowns ease across the country. We continue to pursue growth initiatives in each of our businesses with a focus on the India opportunity,” he said in a statement.
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代币交易下跌4.31%至约9.45 1965 .75 Rs (IST),而基准股指BSE Sensex交易在39462低0.38%
然而,该公司表示oil-to-chemicals和恢复的需求零售业务。
合并所有者净利润降至9567卢比在7 - 9月相比,11262卢比一年回来。
收入从石油化工产品段下跌23%,至29665卢比和税前利润下降33%至5964卢比。精炼税前利润几乎减半为3002卢比的收入暴跌36%。
公司的两个炼油厂获得每桶5.7美元将每一桶原油转化为燃料,比毛炼油利润率(GRM)去年每桶9.4美元。
其数字服务,包括电信手臂Jio,看到独立的净利润增长到2844卢比在Q2FY20 990卢比。
评论Q2结果,董事长穆凯什•安巴尼表示,该公司交付性能比前一季度强劲复苏在石化和零售企业持续增长的数字服务业务。他说不同的业务恢复正常。
“国内需求大幅恢复附近O2C业务,现在大多数产品pre-Covid水平。零售业务活动正常化的强劲增长关键消费篮子锁定全国缓解。我们继续追求我们的业务增长计划在每个重点是印度的机会,”他在一份声明中说。
NEW DELHI: Shares of Reliance Industries<\/a> (RIL) cracked over 4 per cent in Monday’s early trade after the company on Friday posted a 15 per cent year-on-year (YoY) fall in the second-quarter net profit as the pandemic hit sales of most of its products.
The scrip traded 4.31 per cent down at Rs 1,965.75 at around 9.45 am (IST), while the benchmark BSE Sensex traded 0.38 per cent lower at 39,462
However, the company said the demand has recovered in its oil-to-chemicals and retail businesses<\/a>.
Consolidated net profit attributable to owners slipped to Rs 9,567 crore in July-September compared with Rs 11,262 crore a year back.
A plunge in fuel demand<\/a> after the raging pandemic forced people to stay home and stifled the economy, dealing a body blow to the firm’s traditional cash cow oil refining and petrochemicals<\/a>, even as consumer-facing businesses, which account for 35 per cent of the oil-to-telecom-to-retail conglomerate's revenues, continued to do well.
Revenue from the petrochemicals<\/a> segment declined 23 per cent to Rs 29,665 crore and pre-tax profit dropped 33 per cent at Rs 5,964 crore. Refining EBITA almost halved to Rs 3,002 crore as revenue slumped 36 per cent.
The firm’s twin refineries earned $5.7 per barrel on turning every barrel of crude oil into fuel, as compared to a gross refining margin (GRM) of $9.4 per barrel last year.
Its digital services, which includes the telecom arm Jio, saw standalone net profit swell to Rs 2,844 crore from Rs 990 crore in Q2FY20.
Commenting on Q2 results, Chairman Mukesh Ambani<\/a> said the company delivered a strong performance compared to the previous quarter with recovery in petrochemicals and the retail venture along with sustained growth in the digital services business. He said various businesses were returning to normal.
“Domestic demand has sharply recovered across our O2C business and is now near pre-Covid level for most products. Retail business activity has normalised with strong growth in key consumption baskets as lockdowns ease across the country. We continue to pursue growth initiatives in each of our businesses with a focus on the India opportunity,” he said in a statement.
<\/p><\/body>","next_sibling":[{"msid":78991768,"title":"Laptops with Intel Iris Xe Max graphics now available","entity_type":"ARTICLE","link":"\/news\/laptops-with-intel-iris-xe-max-graphics-now-available\/78991768","category_name":null,"category_name_seo":"telecomnews"}],"related_content":[{"msid":"78992377","title":"Ambani-1---BCCL","entity_type":"IMAGES","seopath":"markets\/stocks\/news\/reliance-industries-slips-over-4-post-q2-results\/ambani-1-bccl","category_name":"Reliance Industries slips over 7% post Q2 results","synopsis":"Commenting on Q2 results, Chairman Mukesh Ambani said the company delivered a strong performance compared to the previous quarter with recovery in petrochemicals and the retail venture along with sustained growth in the digital services business. He said various businesses were returning to normal.","thumb":"https:\/\/etimg.etb2bimg.com\/thumb\/img-size-552132\/78992377.cms?width=150&height=112","link":"\/image\/markets\/stocks\/news\/reliance-industries-slips-over-4-post-q2-results\/ambani-1-bccl\/78992377"}],"msid":78992678,"entity_type":"ARTICLE","title":"Reliance Industries slips over 4% post Q2 results","synopsis":"Revenue from the petrochemicals segment declined 23 per cent to Rs 29,665 crore and pre-tax profit dropped 33 per cent at Rs 5,964 crore.","titleseo":"telecomnews\/reliance-industries-slips-over-4-post-q2-results","status":"ACTIVE","authors":[],"Alttitle":{"minfo":""},"artag":"ETMarkets.com","artdate":"2020-11-02 10:33:50","lastupd":"2020-11-02 10:34:15","breadcrumbTags":["RIL share price","petrochemicals","Mukesh Ambani","reliance industries","Fuel demand","Industry","retail businesses","Stocks in news"],"secinfo":{"seolocation":"telecomnews\/reliance-industries-slips-over-4-post-q2-results"}}" data-news_link="//www.iser-br.com/news/reliance-industries-slips-over-4-post-q2-results/78992678">
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