Wonders Created by Reliance Industries Limited (RIL) Through Jio and Petrochemical Segment

Cesar Mills
October 15, 2017

This is the first time that Reliance Jio, a new entrant in the telecom space that has disrupted the industry with its free voice and low data prices, announced earnings since starting operations in September a year ago.

Ahead of the results, RIL closed 0.4 percent higher at Rs 876.70.

The benefits include Jio Prime membership worth Rs 99, Rs 399 data plan which gives data and free voice for 84 days and 5GB data each month on a minimum recharge of Rs 149, for nine months worth a total of Rs 1,809. However, RIL's GRM outperformed benchmark Singapore's complex margins by $3.7 per barrel. Jio's parent RIL, reported strong earnings from refining and petrochemicals businesses, which more than offset the telecom subsidiary's loss.

"Exports from the refining and petrochemical operations during the second quarter at Rs 41,560 crore were higher by 10.2 per cent, as against Rs 37,717 crore exported in the same quarter of previous year, due to higher volumes and product prices", the company said.

The company also revealed operating results from the quarter, including the fact that it generated Rs 156 per subscriber per month during the three months from July to September.

Consolidated total income of the company climbed 15.89 per cent Rs97,402 crore in Q2 compared to Rs84,044 crore in the similar quarter of the previous fiscal.

The retail business continued to do well with revenues rising almost 82 percent over the year earlier to Rs 14,646 crore and Ebit doubled to Rs 334 crore.

The sharp increase in revenue from the petrochemicals segment was due to higher volumes in the polyester chain and firm prices. "Sustained demand growth coupled with supply disruptions further tightened demand supply balances globally during the quarter".

Kyrie Irving Sure Seems Happy To Be Out Of Cleveland
No city has been more fortunate than Boston when it comes to professional sports success while Cleveland has been among the worst. A couple days later, ESPN's Dave McMenamin talked to Cavs coach Tyronn Lue and Dwyane Wade about those comments from Irving .

Minor girl among 2 injured by 'unprovoked Indian firing': ISPR
The firing of small arms and automatics by Pakistani troops yesterday had continued till evening, the spokesman said. Pakistan and India had declared ceasefire along the LoC and the Working Boundary in 2003.

Nitish Kumar's hope of getting Central status for Patna University dashed
Modi said probably so much work in infrastructure has not been done in Bihar in such a short period of time after Independence. He announced that top 10 private and top 10 public universities will be given Rs.10,000 crore in the next five years.

The company posted a loss of Rs 270.5 crore during the period against a '21.3-crore loss in the preceding quarter.

"During the quarter ended 30th September 2017, it is estimated that around 27 million LTE smartphones were sold in India".

Pre-tax profit from the mainstay refining sector was up 10.8 per cent at Rs 6,621 crore year-on-year but it fell 11.4 per cent when compared to Q1 earnings.

This vertical's operating profit margin came in at 17.7 percent in the July to September quarter, which was the highest in the last 10 years.

Petrochemicals segment EBIT was at a record level of Rs 4,960 crore "supported by strong volume growth, higher margins and improved product mix with ethane cracking stabilizing" at the company's facilities at Dahej and Hazira, RIL said.

2Q FY18 revenues for domestic E&P operations was at Rs760 crore up 8.4% YoY due to the commencement of CBM production.

On RJio, Ambani mentioned, "The strong financial results of Jio demonstrates the robust business model of Jio and the significant efficiencies that the Company has built through its investment in the latest 4G technology and right business strategy".

Debt: The outstanding debt stood at Rs 2,14,145 crore as of September 30 against Rs 1,96,601 crore as of March 31, 2017.

Other reports by GizPress

Discuss This Article