India's largest petrochemical major Reliance Industries has surpassed street expectations by reporting fourth quarter (January-March) net gross refining margins at USD 9.3 a barrel as against 7.6 a barrel in previous quarter. Analysts had expected it at around USD 8.6 a barrel.
India's largest petrochemical major Reliance Industries has surpassed street expectations on the gross refining margin and operational fronts while the profit was inline during January-March quarter, but it disappointed with its oil & gas business and other income.
Net profit in Q4FY14 grew 2.2 percent sequentially to Rs 5,631 crore during the quarter that was expected by analysts at Rs 5,655 crore. Revenue came in below forecast at Rs 97,807 crore, down 8.1 percent compared to previous quarter but up 12.9 percent over a year-ago period.
Net gross refining margin (GRM) jumped 22 percent to USD 9.3 a barrel from USD 7.6 a barrel in previous quarter. It was far better than analysts' expectations of around USD 8.6 a barrel.
"FY2013-14 was a satisfying year for RIL. Refining business delivered the highest ever profits with a sharp recovery in GRMs towards the end of the year," says Mukesh Dhirubhai Ambani, chairman and managing director.
"Petrochemical earnings grew sharply with margin expansion across polymers and downstream polyester products. While we continue to face technical challenges in growing domestic upstream production, the US shale gas business grew significantly during the year and has become a material contributor to our earnings," he adds.
For the year ended March 2014, consolidated net profit grew 7.7 percent to Rs 22,493 crore on revenue of Rs 4,46,339 crore (up 9.3 percent over previous year).
On the operational front, India's largest private sector company's earnings before interest, tax, depreciation and amortisation (EBITDA) rose 9.3 percent sequentially to Rs 8,331 crore and margin expanded 140 basis points to 8.8 percent in the quarter gone by. According to CNBC-TV18 poll estimates, EBITDA was expected at Rs 7,910 crore for the quarter.
More to come...
Anda sedang membaca artikel tentang
Reliance Q4 net up 2% to Rs 5631 cr, net GRM at USD 9.3/bbl
Dengan url
http://harmonisem.blogspot.com/2014/04/reliance-q4-net-up-2-to-rs-5631-cr-net.html
Anda boleh menyebar luaskannya atau mengcopy paste-nya
Reliance Q4 net up 2% to Rs 5631 cr, net GRM at USD 9.3/bbl
namun jangan lupa untuk meletakkan link
Reliance Q4 net up 2% to Rs 5631 cr, net GRM at USD 9.3/bbl
sebagai sumbernya
0 komentar:
Posting Komentar