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RIL records first drop in profit in 9 quarters

Reliance Industries has announced the numbers for quarter ending December 31, 2014 and they have been pretty much in-line with expectations on the street.

The oil and gas giant has posted a standalone profit of Rs 5,085 crore while the consolidated net profit has come in at Rs 5,256 crore.

There is a lag seen in the reported GRM at $ 7.30/bbl versus $ 8.30/bbl compared on a quarterly basis.

Mukesh Ambani, Chairman RIL in a statement has said that investments made in refining and  pet chem will fructify in 4-6 quarters. 

The standalone petchem EBIT has come in at Rs 2,197 core versus Rs 2,403 crore compared quarterly.

The standalone net sales have fallen and been reported at Rs 80,196 crore as against  Rs 96,486 crore, quarter on quarter.

Total income has decreased from Rs 120,114 crore in the third quarter of the previous fiscal to Rs 95,868 crore in October-December 2014.

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