INSUBCONTINENT EXCLUSIVE:
petrochemicals business delivering higher earnings than refining for the first time in a decade while the newer retail and telecom ventures
grew briskly in the improved economic environment.
Consolidated turnover in March quarter rose 39% to Rs 1,29,120 crore, driven by higher
oil prices and production and commissioning of new petrochemicals projects
Organised retail revenue rose 134% to Rs 24,183 crore while operating profit jumped 291% to Rs 951 crore, reflecting much higher operating
margins from its operations across 3,837 stores in 750 cities.
Its disruptive telecom business continued to expand aggressively and reported
its second consecutive quarterly profit as it lured another 26.5 million customers with tariffs that its rivals blame for their plunging
Reliance Jio Infocomm reported a standalone net profit of Rs 510 crore on operating revenue of Rs 7,128 crore.
Consolidated net profit rose
20.6% to Rs 36,075 crore while turnover rose 30.5% to Rs 4,30,731 crore in the full fiscal year FY18, which chairman Mukesh Ambani said was
The refining margin was much higher than its global peers, but slightly lower than $11.5 it reported in the same quarter last year
told reporters.
Exports of refined products rose to $6.3 billion from $5.1 billion in the same quarter last fiscal year.
The petrochemicals
business reported an EBIT (earnings before interest and taxes) of 87% at Rs 6,435 crore, making the operating profit higher than the
before the company announced its earnings.
