RIL Live Updates: Reliance Industries net profit at Rs 9,516 crore

Reliance Industries Q2 profit rises 17% at Rs 9,516 crore ## Reliance Industries Q2 profit rises 17% at Rs 9,516 crore

India’s biggest company, Reliance Industries Ltd (RIL), has reported 17 percent rise in quarterly profit, fuelled by a strong profit in its petrochemicals segment.

Reliance, controlled by India’s richest man, Mukesh Ambani, said its profit for the quarter ended September 30 was Rs 9,516 crore.

This was the highest quarterly profit in RIL’s history. The oil-to-telecom conglomerate had reported Rs 8,109 crore net for the year-ago quarter.

Telecom unit, Reliance Jio reported a revenue of Rs 9,240 crore compared with Rs 8,109 crore in the last quarter.

For the quarter ended September 30, RIL achieved revenue of Rs 156,291 crore, an increase of 54.5 percent as compared to  Rs 101,169 crore in the corresponding period of the previous year, the company said in an exchange filing.

A CNBC-TV18 poll had predicted net profit of Rs 9,710 crore for the quarter under review.

Revenue from operations rose more than 53 percent to Rs 146,018 crore, Reliance said on Wednesday.

Profit on a standalone basis, which excludes retail and telecoms, rose 7.2 percent from the same period a year earlier to Rs 8,859 crore.

Gross refining margin, or profit earned on each barrel of crude processed — a vital profitability measure for a refiner — was $10.1 per barrel for the quarter.

Retail business EBITDA has grown three-fold on Y-o-Y basis whereas Reliance Jio EBITDA has grown nearly 2.5 times. Jio has now crossed 250 million subscriber milestone and continues to be the largest mobile data carrier in the world, the company said.

The company's outstanding debt as on September 30, 2018 was at Rs 258,701 crore compared to Rs 218,763 crore as on March 31, 2018.

“Our company delivered robust operating and financial results for the quarter despite macro headwinds, with strong growth in earnings on Y-o-Y basis. Our integrated refining and petrochemicals business generated strong cash flows in a period of heightened volatility in commodity and currency markets," said Mukesh Ambai, chairman, RIL.

Overall, the results on the Reliance Retail front has been excellent, Reliance Jio has been showing better than expected numbers and on refining front, there is no disappointment, said SP Tulsian, market expert.

"The disappointment has largely come on the fall in other income which got compensated by the reduction in the deferred tax liability. So, these numbers will not go as negative or disappointment for the market going forward,” Tulsian said.

Reliance foresees 20 years in advance where it wants to reach and this whole process now is telling that the company is slowly becoming a tech-oriented company with maximum focus now on retail side and it has pleasantly surprised quarter on quarter, said Sanjiv Bhasin, executive VP-Markets, at IIFL.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary

Reliance Q2 results: Here are the key highlights ## Reliance Q2 results: Here are the key highlights

India’s biggest company, Reliance Industries Ltd (RIL), has reported 17 percent rise in quarterly profit, fueled by a strong profit in its petrochemicals segment.

Reliance, controlled by India’s richest man, Mukesh Ambani, said its profit for the quarter ended September 30 was Rs 9,516 crore.

Reliance Q2 results: Here are the key highlights ## Reliance Q2 results: Here are the key highlights

India’s biggest company, Reliance Industries Ltd (RIL), has reported 17 percent rise in quarterly profit, fuelled by a strong profit in its petrochemicals segment.

Reliance, controlled by India’s richest man, Mukesh Ambani, said its profit for the quarter ended September 30 was Rs 9,516 crore.

This was the highest quarterly profit in RIL’s history. The oil-to-telecom conglomerate had reported Rs 8,109 crore net for the year-ago quarter.

Here are the key highlights:-

1.            The company's revenue increased by 54.5 percent to Rs 156,291 crore.

2.            Reliance Jio Infocomm Ltd reported a net profit of Rs 681 crore for the second quarter ended 30 September 2018 with the standalone revenue from operations rising to Rs 9,240 crore, up 13.9 percent QoQ.

3.            Reliance Jio subscriber base exceeded 250 million which is a global record for customer acquisition and its revenue crossed Rs 10,000 crore.

4.            Reliance announced a five-year partnership with India’s leading broadcaster, Star India to make all televised India-cricket matches available to users of JioTV in India.

5.            RIL's retail business and digital services business also recorded a sharp 121 percent and 52 percent increase in revenue during the quarter compared to the corresponding quarter of the previous year.

6.            RIL's Q2FY19 revenue from the petrochemicals segment increased by 56.2 percent Y-o-Y to Rs 43,745 crore due to increase in volumes and price realisations.

7.            The company's Q2FY19 revenue for the oil and gas segment decreased by 12.0 percent Y-o-Y to Rs 1,322 crore.

8.            The oil-to-telecom conglomerate acquired 66 percent and 51.3 percent stake in DEN Networks and Hathway Cable, respectively. The company will make investments of Rs 2,045 crore in DEN Networks Ltd and Rs 2,940 crore in Hathway Cable.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Reliance buys controlling stake in Den Networks and Hathway Cable ## Reliance buys controlling stake in Den Networks and Hathway 

Reliance Industries Limited (RIL) on Wednesday said the company has acquired 66 percent and 51.3 percent stake in Den Networks and Hathway Cable, respectively.

Reliance will make a primary investment of Rs. 2,045 crore through a preferential issue under Sebi regulations and secondary purchase of Rs. 245 crore from the existing promoters in Den Networks Limited, the company said.

The company will make a primary investment of Rs 2,940 crore through a preferential issue in Hathway.

"RIL would also make open offers in DEN and Hathway as well as GTPL Hathway Limited, a company jointly controlled by Hathway with 37.3 percent stake and Hathway Bhawani Cabletel and Datacomm Limited, a subsidiary of Hathway," the company said.

These strategic investments are in furtherance of Reliance’s mission of connecting everyone and everything, everywhere – always at the highest quality and the most affordable price and transforming India’s digital landscape," the company said in a statement.

"After having taken India to the top position in the mobile broadband space, Reliance is now committed to take India from a global rank of 135th to among the top-3 countries in the world on wireline digital connectivity, it said.

The deal will be a big boost for GigaFiber, Reliance Jio's broadband services and it will gain access to 20 million subscribers.

Jio will enhance last mile connectivity via 'right of way' with DEN, Hathway and there will be an addition of premium subscribers to aid Jio's average revenue per user.

Jio is likely to upgrade DEN, Hathway technology to fiber connectivity. Jio'sGigaFiber now will give competition to Airtel, Tata Sky, DishTV.

Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary

RIL said it will make a primary investment of Rs 2,045 crore through a preferential issue under Sebi regulations and secondary purchase of Rs 245 crore from the existing promoters for a 66 percent stake in DEN.

The average revenue per user of Reliance Jio (ARPU), however, declined to Rs 131.7 per subscriber per month from Rs 134.5 in April-June.

RIL would also make open offers to minority shareholders of GTPL Hathway Ltd, a company jointly controlled by Hathway with 37.3 percent stake, and Hathway Bhawani Cabletel and Datacomm Limited, a subsidiary of Hathway.

JioGigaFiber will offer ## JioGigaFiber will offer

a) Ultra High Definition Entertainment on large screen TVs 
b) Multi-Party Video Conferencing from the comfort of everyone’s living room 
c) Artificial Intelligence, in the form of voice-activated virtual assistants, who obey every command of the consumer 
d) Virtual Reality Gaming and Digital Shopping in a magical universe of immersive experiences 
e) Smart-Home Solutions, where hundreds of devices like security cameras, home appliances, even lights and switches, can be securely controlled by their owners, from both inside and outside their homes 
f) Fixed Mobile Convergence, to offer end-to-end services on an integrated network consumers in India will have access to best-in-class services at par with the rest of the world.

Mukesh Ambani, chairman and managing director, on strategic investment in Den Networks Ltd, Hathway Cable and Datacom Ltd. "We are glad to join hands with Shri Rajan Raheja and Shri Sameer Manchanda, two of the pioneers in the MSO industry. Our investments in DEN and Hathway create a win-win-win outcome for the LCOs, customers, content producers and the eco-system."

Reliance Jio has built a next generation all-IP data network with latest 4G LTE technology. It's the only network built as a Mobile Video Network and for providing Voice over LTE technology. It has built a future ready network which can easily deploy 5G and beyond technology in the last leg.

Panna-Mukta and Tapti oil fields ## Panna-Mukta and Tapti oil fields

Panna-Mukta fields produced 0.95 MMBBL of crude oil and 11.13 BCF of natural gas in 2Q FY19, a reduction of 32 percent in crude oil and 34 percent in natural gas on Y-o-Y basis. This was primarily on account of natural decline and unplanned shutdown of the plant during the quarter owing to single point mooring (SPM) integrity issues.

KG-D6 oil field ## KG-D6 oil field

KG-D6 block produced 0.11 MMBBL of crude oil and 11.27 BCF of natural gas in 2Q FY19, each lower by 36 percent respectively on a Y-o-Y basis. Condensate production in Q2FY19 was at 0.02 MMBBL. MA field ceased production effective from 17th September 2018 as the field had been under natural decline and facing continuous challenges due to high water production and sand ingress.