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Reliance Industries (RIL) put up a good show in the September 2018 quarter with its consolidated profit rising about 17 per cent y-o-y to ₹9,516 crore. This was thanks to a strong performance by the petrochemicals, telecom and retail businesses that more than offset the weaknesses in the refining and hydrocarbon exploration segments. Overall, the company’s revenue grew nearly 55 per cent y-o-y to about ₹1,56,000 crore.
The operating profits in the petchem, telecom and retail businesses continued growing at a brisk pace, aided by higher volumes, subscriber additions and store expansion, respectively. The gross refining margin (GRM), though, fell to $9.5 a barrel from $12 a barrel in the year-ago period. The company’s acquisitions of controlling stakes in DEN Networks, and Hathway Cable and Datacom are expected to strengthen its position in the wired broadband services business.
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