RIL slips despite robust Q3 results

Reliance Industries declined 1.4% to Rs 3,055 at 11:10 IST on BSE despite posting a robust 162.2% rise in net profit to Rs 8,079 crore in Q3 December 2007 over Q3 December 2006.

The company announced the results during market hours today, 17 January 2008.

Meanwhile, BSE Sensex was down 101.34 points or 0.51% to 19,766.71.

On BSE, 6.56 lakh shares were traded in the counter. The stock had an average daily volume of 9.41 lakh shares in the past one quarter.

The stock hit a high of Rs 3,139 and a low of Rs 3,035so far during the day. The stock had hit a 52 week high of Rs 3,252.10 on 15 January 2008 and a 52 week low of Rs 1,250 on 5 March 2007.

The large-cap scrip had outperformed the market over the past one month till 16 January 2008, rising 13.54% as compared to the Sensex's return of 4.13%. It also outperformed the market in the past one quarter, rising 20.28% as compared to the Sensex's rise of 10.39%.

The company's current equity is Rs 1,453.65 crore. Face value per share is Rs 10.

The current market price of Rs 3,055 discounts its Q2 September 2007 annualised EPS of Rs 110.10, by a PE multiple of 27.74.

India's largest private sector entity by market capitalisation and oil refiner Reliance Industries' total income rose 23.01% to Rs 34,831 crore in Q3 December 2007 over Q3 December 2006. Substantially higher refining margins boosted the bottomline. RIL earned a refining margin of $15.4 per barrel in Q3 December 2007 compared to $11.7 per barrel in Q3 December 2006.

Reliance Industries is engaged in oil refining, producing and distributing plastic and intermediates, polyester filament yarn, fibre intermediates, polymer intermediates, crackers, chemicals, textiles. It is also into exploration and production of oil and natural gas.