RELIANCE INDUSTRIES – RESULTS BEAT ALL ESTIMATES

By Premium Research Bureau

The Q4FY17 numbers of Reliance Industries were expected to be exuberant and it most surely was. It beat all estimates and the market is sure to react positively. Mr.SP Tulsian has expected the company to clock in a net profit of Rs.7700 crore and it actually came in at Rs.8046 crore, showing a 7% sequential and 12% YoY increase.

Its Gross Refining Margin (GRM) came in at an 8-year high at $11.5/bbl and another big feather in the cap was the Petrochem EBIT, which was at 14% - a five year high.

Jio continues to do well and as at 31st March 2017, there were 108.9 million subscribers on the network.