Reliance Industries posts robust revenue growth of 42.1% yoy: Beats Estimates

India Infoline Research Team | April 24, 2017 17:22 IST

Reliance Industries consolidated revenue for the quarter came in at Rs 84,823 crore, registering 42.1% yoy increase.

Reliance Industries Ltd Q4FY17

Consolidated Results Q4FY17: (Rs. in crore)

Q4FY17 YoY (%)
Revenue 84,823 42.1
EDITDA 12,233 8.8
EBITDA Margin (%) 14.4 [442]
Net Profit (adjusted) 8,053 11.5
***EBITDA margin change is bps

Reliance Industries Ltd's Q4FY17 consolidated results for the quarter registered a beat on street estimates. Revenue for the quarter came in 23.8 % higher than the estimated figure of Rs. 68531 crore. EBITDA for the quarter came in 9.3 % higher than the estimated figure of Rs. 11195 crore. And lastly, net profit for the quarter came in 2.6 % higher than the estimated figure of Rs. 7847 crore.

Reliance Industries consolidated revenue for the quarter came in at Rs. 84823 crore, registering 42.1% yoy increase. This was primarily driven by increase in refinery income by 49% yoy to Rs.72045 crore and petrochemical segment by 26% yoy.

EBITDA for the quarter rose by 8.8% yoy to Rs. 12233 crore with a corresponding margin contraction of 442 bps. EBITDA margin for the quarter stood at 14.4%. This margin contraction was aided by increase in cost of materials by 64% yoy to Rs.47710 in Q4FY17. Refining EBIT increased 6.5% to record level of Rs.25056 crore.
 
The PAT for the quarter came in at Rs. 8053 crore, yoy increase of 11.5%. This was due to lower interest costs by 33% to Rs. 556 crore.

Looking at the full year numbers, we see that Revenue jumped by 8% to reach Rs.305382 crore while EBITDA fell by 6% to 46194 crore. While the company’s net profit remained flat on full year basis to Rs. 29833 crore.

The company also  declared divdend of Rs. 11 per share for the face value of Rs. 10 per share.


Technical View:

Reliance Industries Ltd ended at Rs. 1416.4, up by 16.65 points or 1.19% from its previous closing of Rs. 1399.75 on the BSE.
The scrip opened at Rs. 1410 and touched a high and low of Rs. 1433.75 and Rs. 1400.1 respectively. A total of 6365691(NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.


***Note: This is a NSE Chart

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