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Strategies & Market Trends : India Coffee House
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To: Mohan Marette who wrote (8652)10/20/1999 10:55:00 AM
From: Mohan Marette  Read Replies (1) of 12475
 
Reliance Industries Ltd posts 27.5% jump in net

ril.com

Reliance Industries Limited (RIL) has posted a topline growth of 30% (YoY) during the quarter ended 30th September 1999. The company's net has registered a growth of 27.5% (YoY) during the same period.

Reliance Industries (FY99 Sales Rs 14.5 bn) is India's largest private sector company. Its activities encompass polyester, fiber intermediaries, polymers, chemicals and branded textiles. The new ventures are in the core sectors of oil and gas, power and telecom. 


(Rs bn)                      2QFY2000 2QFY1999 Change 

Sales                            48.4  37.3   29.7% 
Other Income                       1.3  1.4   -6.6% 
Expenditure                       38.7  30.0  29.1% 
Interest                           2.4  1.8   34.1% 
Depreciation                       2.4  2.1   15.9% 
Profit before Tax                  6.1  4.8   27.5% 
Tax -  -  NM 
Profit after Tax                   6.1  4.8   27.5% 
Net profit margin                 12.7% 12.9%



RIL has registered a lower growth in profits, as compared to sales, mainly due to a sharp jump in interest costs (up 34% YoY) and depreciation costs. The company's net profit margin too has eroded by 20 basis points.

The company is, however, poised to turn in better results in the subsequent quarters mainly due to a series of product price hikes over the last one month. The rise in product prices will enable the company to absorb the costs of higher feedstock prices apart from boosting topline growth.

October 20, 1999
(Quantum)
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