Good Q4 result does not benefit RIL
Reliance Industries slipped 0.82% of Rs 2620.50 at 9:57 IST on BSE despite posting 24% rise in net profit to Rs 3912 crore on 36.27% growth in total income to Rs 37575 crore in Q4 March 2008 over Q4 March 2007.
The company announced the results after trading hours on Monday, 21 April 2008.
On BSE, 22,166 shares were traded in the counter. The scrip had an average daily volume of 10.05 lakh shares in the past one quarter.
The stock hit a high of Rs 2655 and a low of Rs 2611 so far during the day. The stock had a 52-week high of Rs 3252.10 on 15 January 2008 and a 52-week low of Rs 1505 on 30 April 2007.
The large-cap scrip had outperformed the market in the past one quarter, gaining 12.05% compared to Sensex's return of 0.06%.
The company's current equity is Rs 1453.65 crore. Face value per share is Rs 10.
The current price of Rs 2620.50 discounts its Q4 March 2008 EPS of Rs 107.62, by a PE multiple of 24.35.
Reliance Industries (RIL)'s gross refining margin (GRM) increased to $15.5 per barrel in Q4 March 2008 as compared to $13 a barrel in Q4 March 2007.
RIL's net profit surged 62.92% to Rs 19458 crore on 19.76% growth in total income to Rs 134338 crore in FY 2008 over FY 2007.
With the commercial production of gas slated to being in the next quarter, RIL expects oil & gas to account for higher share of revenues going forward.
RIL 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. The firm also runs retail outlets with a brand name 'Reliance Fresh'.