Reliance's first quarter result: Reliance Industries earnings in the first quarter increased 4% to Rs 9,485 crore; meets the estimates of the street

Petroleum behemoth Reliance Industries recorded a 4.47% rise in net profit to Rs 9,485 million for the quarter ended June. He had posted a net profit of Rs 9,079 crore in the corresponding quarter last year.

ETNow Poll had predicted a profit of Rs 9.554 crore for the quarter under review.

The consolidated business activity figure increased 46.98% YoY to 1.33,069 crore for the quarter under review against 90,537 crore for the same period of the year last.

Commenting on the results, Mukesh Ambani, President and CEO of Reliance Industries Limited, said, "Our petrochemical business generated record EBITDA with high volumes and improved margins in the polyester chain. The refinement of commercial performances remained stable despite the seasonal weakness of cracks. The continued strength of global demand for petroleum products and the implementation of stricter environmental standards for marine fuels bode well for our refining business.

Gross margins were $ 10.5 per barrel compared to $ 11.90 per barrel in the same quarter of last year. The figure was $ 11 per barrel in the quarter ended March 2018.

Refinery and marketing business turnover increased 42.9% year-over-year to 95.646 crore, while segment revenue decreased 16.8% year-on-year to 5.315 crore . Lower crude throughput due to the planned recovery of a crude oil distillation unit and lower refining margins resulted in lower year-over-year EBIT.

R & M performance was also affected by the rise in the fixed price and adverse movements in Brent-Dubai differentials on an annual basis.

Reliance Jio reported a net profit of Rs 612 crore in the first quarter of 19 over the net profit of Rs 510 crore in the sequential quarter ended in March 2018. The average revenue per user (ARPU) fell to Rs 134.50 from Rs 137 QoQ per subscriber per month.

Reliance Jio's EBITDA increased from 16.80% QoQ to Rs 3.147 crore for the quarter under review versus Rs 2.694 crore in the previous quarter end of March. EBITDA margins increased 1.01% from 37.80% to 38.80% quarter-on-quarter.

Jio continued its strong growth in subscribers with a net addition of 28.7 million compared to 26.5 million in the March quarter, the highest quarterly since the launch of commercial services.

"Revenues from retail businesses have more than doubled and EBITDA has tripled year-over-year.Jio has added a record number of subscribers, highlighting the fascinating technology and value proposition that Jio offers to other networks The scalability of our consumer business platforms generates unprecedented value for our customers, our country and our shareholders, "he added.

For the quarter ended June, petrochemical revenues increased 58.2% year-over-year to 40,287 crores, due to a 35% increase in volumes and exports. 39, a rise of about 24% of achievements.

Petrochemicals EBIT reached a record high of Rs 7,857 crore supported by strong year-over-year volume growth, thanks to the successful stabilization of the world's largest ROGC, its downstream units and PX-4.