RIL Q3 net profit up 14.5% to Rs 4,008 cr

Mukesh Ambani's flagship company, Reliance Industries has declared its third quarter results of FY10. It has reported a 14.48% rise in its net profit of Rs 4,008 crore as against Rs 3,501 in the same quarter of previous year.

Net sales increased 80.13% to Rs 56,856 crore versus Rs 31,563 crore.

The company third quarter numbers were above the street expectations; CNBC-TV18 expected net profit at Rs 3,954.60 crore and net sales at Rs 48,785 crore.

Profit before interest and tax came in at Rs 8,351 crore.

Gross refining margin (GRM) also came in above the market estimates, at USD 5.90 a barrel versus USD 6/bbl in second quarter of FY10. GRMs expected at USD 5.5/bbl.

Reliance, controlled by billionaire Mukesh Ambani, said the results had been reworked and restated to include figures from Reliance Petroleum, which it absorbed last year.

Its cash profit increased by 35.3% to Rs 7,103 crore and exports almost doubled to Rs 35,148 crore.

EBIT (earning before interest and tax) refining margins declined to 2.9% versus 3.4% and petchem EBIT margin was down to 13.9% versus 16.5% while Oil & Gas EBIT margin rose to 41.8% versus 41.7% on quarter-on-quarter basis (QoQ).

RIL expects better refining margins in 2010 and said there was strong local demand growth in Petrochem. The company still has 30 crore treasury shares. It also said first 3 weeks of January started well.

RIL said Q3 results included operations of SEZ unit.

At 11:38 am, the share was trading at Rs 1,060.50, up Rs 6.70, or 0.64%.

(With inputs from Agency)

Quarter on Quarter				Margins
Basic
	Current Qtr	Q2FY10	(QoQ Chg)	Current OPM	Q2FY10
Net Sales	56856	46848	21%	14%	15%
Total Exp	51807	42063
Deprec	2795	2432
Net Profit	4008	3852	4%
Segment Sales	Current Qtr	Q2FY10
Refining	48000	39564	21%
Petchem	14756	13340	11%
E&P	3530	2937	20%
Segment EBIT	Current Qtr	Q2FY10
Refining	1379	1347	2%
Petchem	2055	2195	-6%
Oil & Gas	1477	1226	20%
Segment Margins	Current Qtr	Q2FY10
Refining	3%	3%	-1%
Petchem	14%	16%	-3%
Oil & Gas	42%	42%	0%
Year on Year				Margins
Basic
	Current Qtr	Q3FY09	(YoY Chg)	Current OPM	Q3FY09
Net Sales	56856	31563	80%	14%	17%
Total Exp	51807	27517
Deprec	2795	1317
Net Profit	4008	3501	14%
Segment Sales	Current Qtr	Q3FY09
Refining	48000	21740	121%
Petchem	14756	12623	17%
Oil & Gas	3530	1031	242%
Segment EBIT	Current Qtr	Q3FY09
Refining	1379	1881	-27%
Petchem	2055	1657	24%
Oil & Gas	1477	605	144%
Segment Margins	Current Qtr	Q3FY09
Refining	3%	9%	-6%
Petchem	14%	13%	1%
Oil & Gas	42%	59%	-17%

Source: CNBC-TV18
Courtesy moneycontrol.com

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