RELIANCE IND. Announces Quarterly Results (2QFY21); Net Profit Down 7.1%

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RELIANCE IND. Announces Quarterly Results (2QFY21); Net Profit Down 7.1%
Wed, 4 Nov

RELIANCE IND. has announced its results for the quarter ended September 2020. Here is a detailed performance review of the same:

RELIANCE IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Sep-19*
3
Jun-20*
3
Sep-20*
QoQ ChangeYoY Change
Net SalesRs m1,521,490912,3801,161,95027.4%-23.6%
Other incomeRs m36,14043,88042,490-3.2%17.6%
TurnoverRs m1,557,630956,2601,204,44026.0%-22.7%
ExpensesRs m1,299,970743,630972,50030.8%-25.2%
Gross profitRs m221,520218,410189,450-13.3%-14.5%
DepreciationRs m53,15063,08066,2605.0%24.7%
InterestRs m54,50067,35060,840-9.7%11.6%
Profit before taxRs m150,010131,860104,840-20.5%-30.1%
TaxRs m37,0302,600-130-105.0%-100.4%
Profit after taxRs m112,980129,260104,970-18.8%-7.1%
Gross profit margin%14.623.916.3
Effective tax rate%24.72.0-0.1
Net profit margin%7.313.58.7
* 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 fell 23.6% on a year-on-year (YoY) basis. The expenses were down by 25.2% YoY during the same period.
  • The company's operating profit declined by 14.5% YoY during the quarter. Consequently, operating profit margins witnessed a growth and stood at 16.3% in 2QFY21 as against 14.6% in 2QFY20.
  • Depreciation charges increased by 24.7% and finance costs increased by 11.6% YoY, respectively.
  • Other income increased by 17.6% YoY during the quarter.
  • Net profit for the quarter declined by 7.1% YoY. Net profit margins during the quarter increased from 7.3% in 2QFY20 to 8.7% in 2QFY21.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 27.4% on a quarter-on-quarter (QoQ) basis. The expenses were up by 30.8% QoQ during the same period.
  • The company's operating profit declined by 13.3% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 16.3% in 2QFY21 as against 23.9% in 1QFY20.
  • Net profit for the quarter declined by 18.8% QoQ, while net profit margins declined from 13.5% in 1QFY20 to 8.7% in 2QFY21.

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

LIVE on April 23rd: Has Covid impacted India's long-term growth potential?

RELIANCE IND. Share Price Performance

Over the last one year, RELIANCE IND. share price has moved up from Rs 1,457.3 to Rs 1,863.6, registering a Gain of Rs 406.4 or around 27.9%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 11,795.4 (down 0.1%). Over the last one year it has moved down from 15,668.7 to 11,795.4, a gain of 3,873 points (down 24.7%).

Overall, the S&P BSE SENSEX is up 0.4% over the year.

Current Valuations

At the current price of Rs 1,863.6, the price to earnings (P/E) ratio of RELIANCE IND. stands at 29.0 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.7 times.

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