RIL Q2 result Highlights: Reliance Industries quarterly net profit soars to record high

In its second quarterly result (Q2), Mukesh Ambani led Reliance Industries reported a record quarterly net profit of Rs 9,516 crore. Reliance Industries also confirmed that it will buy a 66% stake in Den Networks for Rs 2,290 crore and 51.3% in Hathway Cable for Rs 2,940 crore.  Check out the RIL Q2 result Highlights: 

HIGHLIGHTS OF QUARTER’S PERFORMANCE (CONSOLIDATED) 
1. Revenue increased by 54.5% to Rs 156,291 crore ($ 21.6 billion) 
2. PBDIT increased by 24.9% to Rs 22,359 crore ($ 3.1 billion) 
3. Profit Before Tax increased by 16.4% to Rs 13,198 crore ($ 1.8 billion) 
4. Cash Profit increased by 17.8% to Rs 15,510 crore ($ 2.1 billion)   
5. Net Profit increased by 17.4% to Rs 9,516 crore ($ 1.3 billion) 
6. Gross Refining Margin (GRM) of $ 9.5/bbl for the quarter  
 
CORPORATE HIGHLIGHTS FOR THE QUARTER (2Q FY19) 
 
Reliance announced a 5 year partnership with India’s leading broadcaster, Star India to make all televised India-cricket matches available to users of JioTV in India. 

Post operationalization of Jio Payments Bank (a 70:30 JV between RIL and SBI), Jio and SBI announced deepening their partnership to bring next generation bilateral frictionless experience with exclusive digital Banking, Payments and Commerce journeys for their customers. 
 
Commenting on the results, Mukesh Ambani said: “Our Company delivered robust operating and financial results for the quarter despite macro headwinds. Our integrated refining and petrochemicals business generated strong cash flows in a period of heightened volatility in commodity and currency markets. Our world-class petrochemicals assets contributed record earnings."
 
He added, "The financial performance of both Retail and Jio reflect the benefits of scale, technology and operational efficiencies. Retail business EBITDA has grown three fold on Y-o-Y basis whereas Reliance Jio EBITDA has grown nearly 2.5 times. Jio has now crossed 250 million subscriber milestone and continues to be the largest mobile data carrier in the world.”    
 
Meanwhile, shares of Reliance Industries ended over 1 per cent lower today ahead of its September quarter results. The RIL stock fell 1.27 per cent to close at Rs 1,148.90 on the BSE, while it jumped 1.48 per cent to Rs 1,180.95 in intra-day trade. The company shares also declined 1.09 per cent to settle at Rs 1,151 on the NSE.

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In terms of the equity volume, 14.53 lakh shares of the company were traded on the BSE and over one crore shares changed hands on the NSE during the day.