RELIANCE IND. Announces Quarterly Results (3QFY19); Net Profit Up 9.6%

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RELIANCE IND. Announces Quarterly Results (3QFY19); Net Profit Up 9.6%
Fri, 18 Jan

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

RELIANCE IND. Quarterly Financials

No. of Mths
Qtr. Ending
3
Dec-17*
3
Sep-18*
3
Dec-18*
QoQ ChangeYoY Change
Net SalesRs m1,025,0001,460,1801,602,9909.8%56.4%
Other incomeRs m22,18012,50024,60096.8%10.9%
TurnoverRs m1,047,1801,472,6801,627,59010.5%55.4%
ExpensesRs m849,1201,249,1001,389,82011.3%63.7%
Gross profitRs m176,270211,080213,1701.0%20.9%
DepreciationRs m45,30052,29052,3700.2%15.6%
InterestRs m20,95039,32041,1904.8%96.6%
Profit before taxRs m132,200131,970144,2109.3%9.1%
TaxRs m37,75036,49040,69011.5%7.8%
Profit after taxRs m94,45095,480103,5208.4%9.6%
Gross profit margin%17.214.513.3
Effective tax rate%28.627.728.2
Net profit margin%9.06.56.4
* 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 56.4% on a year-on-year (YoY) basis. The expenses were up by 63.7% YoY during the same period.
  • The company's operating profit increased by 20.9% YoY during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.3% in 3QFY19 as against 17.2% in 3QFY18.
  • Depreciation charges increased by 15.6% and finance costs increased by 96.6% YoY, respectively.
  • Other income increased by 10.9% YoY during the quarter.
  • Net profit for the quarter increased by 9.6% YoY. Net profit margins during the quarter declined from 9.0% in 3QFY18 to 6.4% in 3QFY19.
Quarter-on-Quarter Performance:
  • The company's operating income during the quarter grew 9.8% on a quarter-on-quarter (QoQ) basis. The expenses were up by 11.3% QoQ during the same period.
  • The company's operating profit declined by 1.0% QoQ during the quarter. Consequently, operating profit margins witnessed a decline and stood at 13.3% in 3QFY19 as against 14.5% in 2QFY18.
  • Net profit for the quarter increased by 8.4% QoQ, while net profit margins declined from 6.5% in 2QFY18 to 6.4% in 3QFY19.

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 919.3 to Rs 1,140.6, registering a Gain of Rs 221.3 or around 24.1%.

Meanwhile, the S&P BSE OIL & GAS Index is trading at Rs 13,526.5 (down 0.0%). Over the last one year it has moved down from 15,746.7 to 13,526.5, a gain of 2,220 points (down 14.1%).

Overall, the S&P BSE SENSEX is up 3.4% over the year.

Current Valuations

At the current price of Rs 1,140.6, the price to earnings (P/E) ratio of RELIANCE IND. stands at 19.1 times its trailing twelve months earnings, while its price to book value (P/BV) ratio stands at 2.5 times.

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