Prices | Financials | Company Info | Reports
The sales for Q4 were reported at Rs 95,190 crore versus Rs 1.03lK crore QoQ. This is a decline of 7.6% QoQ. The Q4 other income was reported at Rs 2,040 crore versus Rs 2,240 crore YoY.
The Gross Refining Margins (GRMs) came in at $9.3/bbl versus $7.6/bbl QoQ. The Q4 refining margins stood at 4.5% versus 3.3% QoQ. The Oil & Gas margins were reported at 26.7% versus 31.2% QoQ.
Commenting on the results, Mukesh Ambani, MD of RIL said, "FY 2013-14 was a satisfying year for RIL. GRMs have recovered sharply towards the year-end." "US shale gas business grew significantly," he added.
RIL's businesses range from producing gas to selling vegetables and groceries. Ahead of the results, shares in Reliance Industries closed at Rs 958.75 on Thursday, up 1.88% on the Bombay Stock Exchange. They hit an intra-day high of Rs 962.80 and a low of Rs 944.40.
The scrip has already gained 19% in last couple of months, against around 6.5% gain in BSE Sensex. This outperformance is being viewed as market's acceptance of the company's organic earning growth over next 2-3 years. Analysts don't expect the January-March performance to impact its share price.
"Post its more than 18% share price move last month, investors are likely to look beyond Q4 results and focus firmly on the impact of the $14-billion downstream projects and the $9-10-billion telecom foray," Barclays said in a report. "A strong positive EPS uplift from these may be two-three years away, though."
The deferment of the decision to increase natural gas price because of elections hasn't impacted investor sentiment towards the company. Since the government has already notified the pricing formula applicable from April 1, the company expects the new price to be effective from that date, even though the exact price hasn't been announced.
Copyright © 2014 Times Internet Limited. All rights reserved.
via Business - Google News http://ift.tt/1gQkDrD
Put the internet to work for you.
No comments:
Post a Comment