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#1
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#2
Reliance Q2 Results in line with expectations.

15 Oct, 2011, 04.14PM IST, Agencies
RIL Q2 profit up 15.8% at Rs 5703 crore YoY, in line with expectations

MUMBAI: Reliance Industries Limited (RIL) on Saturday reported its Q2 results, which was in line with expectations. RIL's Q2 profit was up 15.8% at Rs 5703 crore versus Rs 4923 crore YoY.

RIL achieved a record turnover for the half year ended September 30, 2011 of Rs 164,479 crore ($33.6 billion), an increase of 36.0% on a year-on-year basis. Increase in volumes accounted for 3.5% growth in revenue and higher prices accounted for 32.5% growth in revenue. Exports were higher by 52.2% at Rs 101,872 crore ($20.8 billion) as against Rs 66,936 crore in 1H FY10-11. Higher crude prices resulted in consumption of raw materials increasing by 44.4% to Rs 129,104 crore ($26.4 billion) on a year-on-year basis.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: "Our first half financial performance has been consistent. The increase in profits was largely driven by improved performance in the refining and petrochemicals business. All our manufacturing facilities operated at record levels with refineries achieving operating rates of 110%. RIL has strong balance sheet and sustained earning base to pursue growth opportunities."

Employee costs were at Rs 1,593 crore ($ 325 million) for the half year as against Rs 1,277 crore

Other expenditure increased by 17.3% from Rs 7,452 crore to Rs 8,743 crore ($ 1.8 billion) due to higher power & fuel expenses and exchange difference.

Operating profit before other income and depreciation increased by 5.5% from Rs 18,738 crore to Rs 19,770 crore ($ 4.0 billion). Net operating margin was lower at 12.0% as compared to 15.5% in the corresponding period of the previous year due to base effect.

Other income was higher at Rs 2,180 crore ($ 445 million) as against Rs 1,394 crore on a year-on-year basis primarily due to higher average liquid investments.

Depreciation (including depletion and amortization) was lower by 10.2% at Rs 6,164 crore ($ 1.3 billion) against Rs 6,862 crore in 1H FY 2010-11 due to lower depletion charge in oil & gas as a consequence of the transfer of 30% Participating Interest (PI) in 21 blocks to BP.

Interest cost was higher at Rs 1,205 crore ($ 246 million) as against Rs 1,083 crore in 1H FY 2010-11 principally due to higher foreign exchange difference. This resulted in gross interest cost being higher at Rs 1,481 crore ($ 302 million) as against Rs 1,311 crore in 1H FY 2010-11. Interest capitalized was higher at Rs 276 crore ($ 56 million) as against Rs 228 crore.

Profit after tax was Rs 11,364 crore ($ 2.3 billion) as against Rs 9,774 crore for the corresponding period of the previous year.

Basic earnings per share (EPS) for the half year ended 30 th September 2011 was Rs 34.7 ($ 0.70) against Rs 29.9 for the corresponding period of the previous year.

Outstanding debt as on 30 th September 2011 was Rs 71,399 crore ($ 14.6 billion) compared to Rs 67,397 crore as on 31 st March 2011. Net gearing as on 30 th September 2011 was 5.4% as against 13.5% as on 31 st March 2011.

Production from KG-D6 was 2.7 million barrels of crude oil, and 303.4 BCF of natural gas, a reduction of 42.1% and 20.3% respectively on a year-on-year basis. The reduction in production was mainly due to reservoir complexity. Production of gas condensate was 0.40 million barrels, an increase of 26.3 % over the previous period.

Gas was sold as per the Government?s Gas Utilization Policy and at a price of $ 4.2 /MMBTU.
 
#5
So, who won today ? The Bulls or the Bears ? I think it was a stalemate. The bulls defended 5070 and the bears defended 5170. Now both are looking at the international markets and domestic results for cues.

BTW, what was Nifty doing in the last hour or so ?? Forming an ascending triangle ??

 
#6
Well, so far, TCS's results meet street expectations, HDFC posts a good set of numbers, Mindtree's results outshine everyone else so far.

On top of that, India seem to be on their way to victory against England - 195 for 2 in 31 overs in response to England's 239. Will it lift the Nifty tomorrow ??
 
#7
Kavima says in his today's post that we can short below 5085.

Really.. I am amazed at how widely different methods reach the same conclusion, be it a solid deeply technical system like Kavima's, or a seemingly simple approach like Rajsumi121's 21MA method. Following that method too, the "cross over" bar had 5087 as low, and he recommends selling below that level.. Check this.

I wish I could thank traderji.com in some way.
 
#8
Let's see what happens today. Pre-open, Nifty is 70 pts down. OTOH there is a plethora of good news too. Maruti has resumed production, Coal India strike is over, NTPC will get coal from today. TCS, HDFC, IFCI have declared decent results..

And India won the match yesterday.
 

4xpipcounter

Well-Known Member
#9
Timepass, we are thanking them by showing up on their forum and posting the way we do. We quit posting, then their advertisers quit advertising, and then they quit making money.

BTW, do you have a good Cricket site you could direct me to?
I sure like that sport, but it is never played here in the USA.


Kavima says in his today's post that we can short below 5085.

Really.. I am amazed at how widely different methods reach the same conclusion, be it a solid deeply technical system like Kavima's, or a seemingly simple approach like Rajsumi121's 21MA method. Following that method too, the "cross over" bar had 5087 as low, and he recommends selling below that level.. Check this.

I wish I could thank traderji.com in some way.
 
#10
..BTW, do you have a good Cricket site you could direct me to?
I sure like that sport, but it is never played here in the USA.
I have been looking for that ever since you mentioned it the first time... will revert to you about it :)
 

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