RIL Q3 profit rises 9% YoY to Rs 10,251 crore, beats Street estimates
- Reliance Jio's ARPU came in at Rs 130 against ETNow poll of Rs 128.
- RIL maintained significant premium over Singapore complex margins.
- Debt as on Dec 31 stood at Rs 2,74,381 cr compared with Rs 2,18,763 cr
The firm had posted a profit of Rs 9,420 crore in the corresponding quarter last year.
Consolidated revenue from operations increased 56.38 per cent YoY to Rs 1,60,299 crore in Q3FY19 over Rs 1,02,500 crore.
Commenting on the results, Chairman and Managing Director, Mukesh Ambani said: “In our new-age consumer businesses, we maintained robust growth momentum across Retail and Jio platforms and the share of consumer businesses is steadily increasing its contribution to the overall profitability of the company. In our wireless business, our customer-centric offerings and strong ubiquitous network are helping to digitalise India at an unprecedented rate.”
Outstanding debt as on December 31, 2018 stood at Rs 2,74,381 crore compared with Rs 2,18,763 crore as on March 31, 2018.
Reliance Jio Infocomm, the telecom arm of RIL, reported a profit of Rs 831 crore for December quarter, a jump of 22.10 per cent on a quarter-on-quarter basis. ARPU stood at Rs 130 against ETNow poll estimated of Rs 128.
On Jio’s numbers, Ambani said: “The Jio family is now 280 million strong and growing on one of the world’s largest mobile data networks. We are similarly working on reinventing the connectivity solutions market for Homes and Enterprise with our next generation Fiber-to-the-Subscriber (FTTX).”
Petrochemical and Refining Businesses
Third quarter revenue from refining and marketing segments increased 47.3 per cent year-on-year to Rs 1,11,738 crore, while segment EBIT declined by 18 per cent YoY to Rs 5,055 crore.
Refining and marketing segment performance was impacted by sharp decline in light distillate product cracks. This was partly offset by strength in middle distillate cracks.
Reliance maintained significant premium over Singapore complex margins due to product yield optimisation and robust risk management.
GRM for December quarter stood at $8.8 per barrel, outperforming Singapore complex margins by $4.5 per barrel. GRM stood at $11.6 per barrel in the previous fiscal.
Revenue of the petrochemicals segment increased 37.1 per cent to Rs 46,246 crore due to increase in price realisations and volumes primarily in polymer products and fibre intermediates. Petrochemicals segment EBIT was at Rs 8,221 crore, up 42.9 per cent on a yearly basis.
Reliance Retail registered strong growth during the quarter due to festive season sales and new store openings. Topline of the segment nearly doubled in last five consecutive quarters and ebitda has nearly tripled for four consecutive quarters.
The year-to-date revenues and profit have surpassed the whole of FY18. During the quarter, Reliance Retail recorded over 13.9 crore footfalls, a growth of 21 per cent YoY across its stores.
“Q3FY19 result came in better than our estimates. We may see positive movement in the shares of the company on Friday. Petrochem as well as retail segment reported strong quarterly numbers. GRM figures also remained better than our estimates. On the Jio front, numbers stood in line with street expectations,” said Sanjeev Jain, Associate Vice-President of Ashika Stock Broking.