RIL mega expansion

Mukesh Ambani has surprised the street again. After announcing some mega expansion plans a few days back at the AGM, he declared huge profit of nearly a billion dollars in a single quarter.
Reliance has declared its quarterly numbers for the first time with IPCL numbers added to its account books. Analysts see this move as making of a petrochemical giant.
Reliance second quarter profits rose 25.3 per cent at Rs 3,837 crore against Rs 3,060 crore. However the numbers are not comparable due to IPCL merger.
The company's second quarter profits have beaten analyst's expectations of Rs 3,440 crore. Sales rose 12.5 per cent at Rs 32,043 crore while earnings per share for the quarter stood at Rs 26.40.
Gross refining margins also rose to $13.6 per barrel. Analysts attribute strong profit margins to higher refining and petrochemical margins. Operating profit margin in the second quarter stood at 18.65 per cent.
Expansion plans
However RIL's refining and marketing EBIT margin was at 9.8 per cent, petrochemicals EBIT margin for the second quarter stood at 15.6 per cent. Reliance's major expansion plans is very much on track including retail and oil & gas.

Courtesy:ndtvprofit.com
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