Reliance Industries - Q3FY14 Result Update - Microsec Research

Reliance Industries Limited(RIL) announced its Q3'14 results on January 17, 2014.

Reliance Industries Limited posted their Q3FY14 result and it is more or less in line with expectations. The company's topline at INR103521.00crores advanced by ~10.00% on YoY basis. Net Profit surprised at INR5511.00 crores beats the consensus though marginal but grew both on QoQ as well as YoY basis. Both the EBITDA & PAT margins are under pressure. The Other Income of INR2305 crores boosted growth in quarterly PAT numbers. On the 9MFY14 front the company has given a growth of ~6% both in the revenue and the profit. Much to the surprise of the consensus the oil & gas segment performed well whilst the petchem segment disappointed during the quarter. The management came up with the statement that the robust refining configuration enabled the company to deliver such profit and demonstrates the outstanding quality of the refining business.

The GRM came at $7.60/bbl during the quarter while its 9MFY14 GRM is at $7.80/bbl.

Going forward we reckon that the company would perform well majorly on the back of the gas price hike and also easing of some tensions with the oil ministry that the company was having of late.

Source : Equity Bulls

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