Reliance Q2 net up 7.4 pct at Rs 41.22 bn
India’s biggest energy group, Reliance Industries Ltd, beat market forecasts with a 7.4 per cent rise in quarterly profit on Thursday, helped by stronger than expected refining margins. The leading petrochemicals maker, which runs a 660,000 barrels per day refinery in western India, said net profit rose to 41.22 billion rupees ($828 million) in its fiscal second quarter ended Sept. 30 from 38.37 billion reported a year earlier.
Analysts had forecast a net profit of 39.2 billion rupees.
Net revenue at the company, India’s most valuable with a market value of $45 billion, grew to 447.9 billion rupees from 320.4 billion.
Reliance’s refining margins for the quarter were $13.4 a barrel television news channels reported, well above the benchmark Asian Dubai crack margin, which averaged about $5.8 a barrel in the period.
Shares in Reliance dropped 7 per cent in July-September, compared with a 0.3 per cent rise in the sector index and a 4.5 per cent decline in the broader market.
Tags: calls, daytrading, free calls, intraday, tips
Similar Posts:
Latest Query
- by Sam
Market Stats
Search Our Archives
Research Desk
- Stocks Trading above their 50 day moving average - DMA In Stock Research
- Download free Ebooks based on Technical Analysis In Personal Training
- TOP 100 Stocks with the Highest P/E as on July 14th, 2013 In Stock Research
- TOP 100 Stocks with the Lowest P/E as on July 14th, 2013 In Stock Research
- Charting Pathsala - Your guide to Techincals In Technical Analysis
