Reliance Industries Ltd's Q4FY19 consolidated net profit rises 9.8% yoy to Rs10,362cr : Beats Estimates

The company’s consolidated revenue stood at Rs1,41,634cr, up 17.89% yoy

Apr 18, 2019 01:04 IST India Infoline Research Team

Reliance Industries Ltd Q4FY19

Consolidated Results Q4FY19: (Rs. in cr)

Q4FY19 YoY (%)
Revenue 1,41,634 17.9
EBITDA 20,832 12.8
EBITDA Margin (%) 14.7 [67]
Net Profit (adjusted) 10,362 9.8
***EBITDA margin change is bps

Reliance’s revenue grew by 17.9% yoy Rs1,41,634cr. EBITDA came in at Rs20,832cr, up 12.8% yoy. EBITDA margin contracted by 67bps yoy to 14.71%. Adjusted PAT came at Rs10,362cr, up 9.8% yoy. EBITDA and Adjusted PAT came above estimates of Rs19,757cr and Rs9,796cr respectively. 

• Organised retail and Digital services segment revenue grew by 51.6% yoy and 61.6% yoy to Rs36,663cr and Rs13,609cr respectively.
• Revenue from Petrochemicals business grew by 11.2% yoy to Rs42,414cr, while revenue from Refining business declined by 6.1% yoy to Rs87,844cr.
• Cost of goods sold stood at 67.5% of sales vs. 71.2% yoy.
• Other expenses stood at 15.4% of sales vs. 11.4% yoy, impacting the EBITDA margin.
• EBIT margin of Refining business stood at 4.8% vs 6.0% yoy.
• GRM stood at US$8.2/bbl vs US$11.0/bbl yoy.
• EBIT margin of organised retail and digital services business expanded to 4.7% and 19.6% from 3.9% yoy and 17.8% yoy respectively.
• Finance cost grew by 90.7% yoy to Rs4,894cr yoy.
• The Resolution Plan jointly submitted by Reliance and JM Financial ARC for acquisition of Alok Industries Limited under IBC has been approved by NCLT, Bench at Ahmedabad.
• RIL has completed acquisition of 100% stake of Radisys Corporation through a special purpose vehicle (SPV) set up in U.S. for cash consideration aggregating to approximately US$ 75mn equity value.
• Brookfield has filed the preliminary placement memorandum, in terms of which India Infrastructure Trust, an InvIT set up by Brookfield as Sponsor and 90% investor, will invest Rs13,000cr to acquire the East West Pipeline. As a part of the transaction, the InvIT will acquire 100% equity interest in Pipeline Infrastructure Private Limited, which currently owns and operates the Pipeline.

Technical View:

Reliance Industries Ltd ended at Rs. 1,382.90, up by 37.6 points or 2.79% from its previous closing of Rs. 1,345.30 on the BSE.
The scrip opened at Rs. 1,365.45 and touched a high and low of Rs. 1,387 and Rs. 1,365 respectively. A total of 1,88,84,125 (NSE+BSE) shares were traded on the counter. The stock traded below its 50 DMA.

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