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RELIANCE IND. Announces Quarterly Results (2QFY19); Net Profit Up 17.9%

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RELIANCE IND. Announces Quarterly Results (2QFY19); Net Profit Up 17.9%
Fri, 19 Oct

RELIANCE IND. has announced its results for the quarter ended September 2018. Here is a detailed performance review of the same:

RELIANCE IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-17*
3
Jun-18*
3
Sep-18*
QoQ ChangeYoY Change
Net SalesRs m950,8501,330,6901,460,1809.7%53.6%
Other incomeRs m23,17017,78012,500-29.7%-46.1%
TurnoverRs m974,0201,348,4701,472,6809.2%51.2%
ExpensesRs m795,2001,124,0801,249,10011.1%57.1%
Gross profitRs m155,790206,610211,0802.2%35.5%
DepreciationRs m42,87051,73052,2901.1%22.0%
InterestRs m22,72035,50039,32010.8%73.1%
Profit before taxRs m113,370137,160131,970-3.8%16.4%
TaxRs m32,40042,41036,490-14.0%12.6%
Profit after taxRs m80,97094,75095,4800.8%17.9%
Gross profit margin%16.415.514.5
Effective tax rate%28.630.927.7
Net profit margin%8.37.06.5
* Results Consolidated
Interim results exclude extraordinary / exceptional items
Source: Company Reports, Regulatory Filings, Equitymaster


Year-on-Year Performance:
  • The company's operating income during the quarter grew 53.6% on a year-on-year (YoY) basis. The expenses were up by 57.1% YoY during the same period.
  • The company's operating profit increased by 35.5% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.5% in 2QFY19 as against 16.4% in 2QFY18.
  • Depreciation charges and finance costs increased by 22.0% YoY and 73.1% YoY, respectively.
  • Other income declined by 46.1% YoY during the quarter.
  • Net profit for the quarter increased by 17.9% YoY. Net profit margins during the quarter declined from 8.3% in 2QFY18 to 6.5% in 2QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 9.7% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.1% QoQ during the same period.
  • The company's operating profit declined by 2.2% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 14.5% in 2QFY19 as against 15.5% in 1QFY18.
  • Net profit for the quarter increased by 0.8% QoQ, while net profit margins declined from 7.0% in 1QFY18 to 6.5% in 2QFY19.

To see how RELIANCE IND. has performed over the last eight quarters, please visit here.

RELIANCE IND. Share Price Performance

Over the last one year, RELIANCE IND. share price has moved up from Rs 910.4 to Rs 1,095.1, registering a Gain of Rs 184.8 or around 20.3%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,250.5 (up 0.0%). Over the last one year it has moved down from 15,894.6 to 13,250.5, a loss of 2,644 points (down 16.6%).

Overall, the S&P BSE SENSEX is up 5.7% over the year.

Current Valuations

At the current price of Rs 1,095.1, the price to earnings (P/E) ratio of RELIANCE IND. stands at 18.8 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.4 times.

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For the quarter ended December 2018, RELIANCE IND. has posted a net profit of Rs 104 bn (up 9.6% YoY). Sales on the other hand came in at Rs 1,603 bn (up 56.4% YoY). Read on for a complete analysis of RELIANCE IND.'s quarterly results.

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For the quarter ended June 2018, RELIANCE IND. has posted a net profit of Rs 95 bn (up 18.8% YoY). Sales on the other hand came in at Rs 1,331 bn (up 47.0% YoY). Read on for a complete analysis of RELIANCE IND.'s quarterly results.

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