RIL shares up almost 4% post Q1 earnings

Mukesh Ambani's RIL to acquire 24.9% stake in Balaji Telefilms for Rs 413 crore

Gross refining margin, or profit earned on each barrel of crude processed - a key profitability gauge for a refiner, was at a nine-year high of $11.9 per barrel for the quarter, outperforming the benchmark Singapore complex margins by $5.5 per barrel.

The market capitalisation of the company crossed Rs. five lakh crore mark for the first time on July 17, which was at Rs. 4.97 lakh crore at Thursday's closing price. The refining business accounts for more two-third of RIL's revenue and operating profit.

Refining margins are a key measure of profitability for the business. He added that retail business revenue grew 74 per cent, while the company continues to build its digital services business.

"Over the past three to four years, we made significant investments in new plants, thus creating organic growth platforms for our energy and materials businesses".




Besides, Mukesh Ambani today announced the launch of a 4G-enabled feature phone priced at "effective" zero that bundles life-long free voice calls with dirt cheap data in a bid to woo 50 crore low-income users to his 10-month old Jio. "Full commissioning of new PX facility at Jamnagar during the quarter will strengthen the integration within our polyester chain".

Shares of Balaji Telefilms soared almost 9 per cent today after Reliance Industries Ltd (RIL) board approved a plan to pick almost 25 per cent stake in the company for about Rs 413 crore. The company said that during Q1FY18, its revenues from organised retail jumped almost 74% to Rs 11,571 crore from Rs 6,666 crore a year earlier.

"The board of directors at its meeting held on July 20, 2017, has decided to make a rights issue of 4 billion, 9% non-cumulative optionally convertible preference shares (OCPS) of Rs. 10 each for cash, at a premium of Rs. 40 per OCPS, aggregating to Rs. 20,0000 crore", it said.

Before the earnings announcement, RIL shares closed at Rs.1,528.70, down 0.31%, on the BSE.

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