Reliance Industries, RIL Q4 PAT up 32% at Rs 5590 crore

Reliance Industries, RIL Q4 PAT up 32% at Rs 5590 crore



Mukesh Ambani Group's flagship company  Reliance Industries  (RIL) beat estimates and has reported 31.9 percent year-on-year jump in March quarter profit to Rs 5589 crore, boosted by higher other income and an improvement in gross refining margins (GRMs), which is partly offset by lower gas output from its flagship KG-D6 basin.

The firm's other income stood at Rs 7998 crore as against Rs 6192 crore.

RIL Chairman & Managing Director Mukesh D Ambani, said: “The growth in earnings was largely driven by strong and improved refining margins during the year.

Exploration and Production: Revenues tumbled 39 percent to Rs 1597 crore on declining output from KG-D6 basin. Production from the wells dropped to 20 million standard cubic metres per day from its peak of 60 mmscmd in 2010. The vertical's Ebit margins also declined  to Rs 28.8 percent from 36.5 percent YoY.

Refining and marketing: Revenues grew 2.2 percent to Rs 77872 crore as its Jamnagar refinery produced 68.5 million tonnes of crude at an average utilisation rate of 110 percent, compared to 109 percent YoY.Ebit margins also expanded to Rs 4.5 percent from 2.2 percent YoY.

Petchem division: Sales grew 3.5 percent to Rs 22158 crore. Ebit margin came down to 8.6 percent from 10.2 percent. The decrease is primarily due to lower margins and polyester fibre and yarn products.