RIL reports healthy Q2FY19 but stock dips

Mukesh Ambani led conglomerate, Reliance Industries, reported its second-quarter result for FY19 on Wednesday. The company's consolidated revenue for the quarter surged almost 55 per cent to Rs. 156,291 crore from corresponding quarter of last year. This stellar growth was led by higher volume in petrochemicals YoY (9.4 MMT vs. 7.9 MMT) and robust growth in retail division and telecon arm Jio recorded growth of 121 per cent and 52 per cent yoy. 

EBITDA during the quarter increased by almost 23 per cent yoy to Rs. 21,156 crore. Petrochemical division recorded strong EBITDA of Rs. 9,477 crore. While due to high crude oil prices its GRM for the quarter fell to US$ 9.5 per barrel as against US$ 10.5 per barrel in the preceding quarter. 

While RIL’s net profit for the quarter grew by nearly 17 per cent yoy to Rs. 9,516 crore. 

During Q2FY19, RJio added 41.7 million subscribers taking it total subscriber to 252.3 million. 

However, investors were not so excited about this performance as the stock of RIL in Friday’s trading session tanked almost 7 per cent to touch an intra-day low of Rs. 1,073.2. At 13.10 hours the stock of RIL was trading at Rs. 1,094 apiece, down by almost 5 per cent.