RELIANCE INDUSTRIES Q1FY15 PERFORMANCE

Beating all estimates, despite a weak Gross Refining Margin (GRM) and planned turnaround of its refinery, Reliance Industries posted a better set of Q1FY15 numbers.

Its consolidated net profit for the quarter was up 14% (YoY) at Rs.5957 crore on a 7% jump in revenue at Rs.1,07,905 crore. The sequential numbers look flat with net profit showing a rise of less than 1.5% and revenue growing just 1.6%.

GRM for the qaurter was at $8.7/bbl v/s $8.4/bbl (YOY) and $9.3/bbl in Q4FY14.