RIL Q2 FY14 RESULTS

By Research Desk

about 11 years ago

From our Research Desk

RIL has announced better-than-expected Q2FY14 revenues of Rs.1.04 lakh crore and PAT of Rs. 5,490 crore, entailing EPS of Rs. 17 for the second quarter. GRM stood at US $ 7.7 per barrel.

(Rs./Crore)

Particulars	Q1 ending 30-09-13	H1 ending 30-09-13	Q1 ending 30-06-13	Year end 31-03-13
Segment Revenue
1) Petrochem	24,892	46,842	21,950	88,108
2) Refinery	97,456	1,78,914	81,458	3,33,774
3) Oil & Gas	1,464	2,918	1,454	8,280
4) Others	330	946	616	953
Gross Turnover	1,24,142	2,29,620	1,05,478	4,31,115
Less: Inter Segment	17,619	32,508	14,889	59,996
	1,06,523	1,97,112	90,589	3,71,119
Less: Excise Duty	2,765	5,709	2,994	10,822
Net Turnover	1,03,758	1,91,403	87,595	3,60,297

EBIT Margins
1) Petrochem (10.06%)*	2,504	4,392	1,888	7,328
2) Refinery (3.26%)*	3,174	6,125	2,951	12,788
3) Oil & Gas (24.32%)*	356	708	352	2,887
4) Others	42	126	84	255
PBIT	6,076	11,351	5,275	23,258
Less: Interest Expenses	-805	-1615	-810	-3,036
Less: Other Unallocated Expenses	49	618	569	-183
Add: Interest Income	1551	3179	1628	6,245
PBT	6,871	13,533	6,662	26,284
Less: Provision for Current Tax	-1,436	-2,827	-1,391	-5,244
Less: Provision for Def. Tax	55	136	81	-37
Profit After Tax	5,490	10,842	5,352	21,003
EPS	17.0	33.6	16.6	64.8

*Figures in brackets indicates % margin for Q2FY14.

Result Analysis:

Both refining and petrochem have reported better-than-expected margins - petchem margin of 10% one of the best.
In refining, company processed 4% higher crude in volume terms, which helped refining topline, in addition to depreciating rupee.
Other Income (treasury gains) reducing a positive sign, as core business contributing higher to EPS.
FY14 EPS estimated in range of Rs.68-69.

(more updates to follow)