Shares of Reliance Industries
declined 2% in Monday’s morning trade despite the company reported better than expected numbers for Q4FY19.
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% yoy, the company said in a press note released on Thursday after markets to the exchanges.
However, GRM of the company for Q4FY19 stood at US$8.2/bbl vs. US$11.0/bbl yoy.
Reliance Industries Ltd's share price is currently at Rs1,355.90, down by Rs27 or 1.95%, from its previous closing of Rs1,382.90 on the BSE.
The scrip opened at Rs1,364 and has touched a high and low of Rs1,364 and Rs1,345.30, respectively. So far, 41,39,905 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs8,76,585.81cr.