RIL acquires 24.92% stake in Ekta Kapoor-owned Balaji Telefilms

Randall Craig
July 22, 2017

The scrip zoomed 8.75% to Rs 203-its one year high-on the BSE.

Reliance's revenue for Q1FY18 was Rs 90,537 crore, up almost 27% from Rs 71,451 crore during the same quarter of the previous fiscal.

Shares of Reliance Industries today closed the day with almost 4 per cent gains after the company reported its highest quarterly consolidated net profit of Rs 9,108 crore in three-months to June 30.

The country's biggest company by market value saw its consolidated revenue shoot up 27 per cent at Rs 90,537 crore compared to Rs 71,451 crore a year before, but on a sequential basis, revenue saw a fall of 2.5 per cent.


Reliance General Insurance on Thursday said it closed the first quarter with its gross written premium going up by 41 per cent year-on-year and 22 per cent growth in its profit after tax.

"Our industry leading portfolio of assets in the refining and petrochemicals business contributed to considerable improvement in our earnings for the quarter", Reliance chief Mukesh Ambani said in a statement. He added that retail business revenue grew 74 per cent, while the company continues to build its digital services business. Over the past 3-4 years, we made significant investments in new plants, thus creating organic growth platforms for our energy and materials businesses. According to Ambani, full commissioning of new PX facility at Jamnagar during the quarter will strengthen the integration within our polyester chain.

Shares of Reliance Industries Ltd (RIL) on Friday rose by almost 4 per cent after the company reported its highest quarterly consolidated net profit of Rs 9,108 crore in three-months to June 30.

There was a double delight for the shareholders as the diversified conglomerate announced a dividend of Rs 13 a share. The company had reported a PBDIT of Rs 240 crore in the same period last fiscal. "The bonus announcement would also help improve investor sentiments further", said Nitasha Shankar, Senior Vice President and Head of Research, YES Securities.

Other reports by Ligue1talk

Discuss This Article

FOLLOW OUR NEWSPAPER