RIL Q2 net profit up 7.4% at Rs 4122 cr

Reliance Industries has announced its second quarter results. The Q2 net profit was up 7.4% at Rs 4122 crore versus Rs 3837 crore.

Its net sales were up 39.8% Rs 44787 crore versus Rs 32043 crore.

Q2 Highlights

EBITDA: up 12% at Rs 6474 crore versus Rs 6121 crore

Revenues jump led by higher GRMs of $13.4/bbl Vs $13.6/bbl (YoY)

Inventory gains accounted for $1/bbl; this is on account inventory build-up in Q1

Singapore GRMs fall to $5.6/bbl in Q2

EBITDA Margins fall by 350 bps

EBIT margins for Refinery & Petchem decline

The company's additional depreciation charge of Rs 798 crore for H1

EBITDA Margins at 14.5% vs  18%

PBIT margins at 11.9% vs 12.3% QoQ.

PBIT margins at 11.9% vs 14.8% YoY.

Petchem

Witness demand slowdown

Polyester margins under pressure

Polymer margins steady

Witnessing de-stocking - which led to fall in petchem volumes in Q2

Outlook for GRMS

Likely to remain under pressure next few quarters, given fall in crude prices and lower demand in US & European mkts

Supply overhang likely to come from RPL jamnagar refinery

	Revenues growth	Margins growth
Petchem	20%	12.2% vs 15.6%
Refining	54%	7.6% vs 9.8%
Oil & Gas	56%	69% vs 63.4%

 

 

 

 

 

QoQ Performance

	Revenues growth	Margins growth
Petchem	4.6%	12.2% vs 10.6%
Refining	11.7%	7.6% vs 9.3%
Oil & Gas	18.8%	69% vs 63.9%

 

 

 

 

Particulars	Sep-08	Jun-08	Mar-08	Dec-07
Net Sales / Interest Earned / Operating Income	44787	41579	37286	34590
Other Income	151	226	289	241
Total Income	44938	41805	37575	34831
Expenditure	-38313	-35458	-31268	-24024
Interest	-437	-294	-272	-253
Profit Before Depreciation and Tax	6188	6053	6035	10554
Depreciation	-1264	-1151	-1380	-1213
Profit before Tax	4924	4902	4655	9341
Tax	-802	-792	-743	-1262
Net Profit	4122	4110	3912	8079
Equity Capital	1454	1454	1454	1454