Brokerages remain upbeat on Reliance Industries’ stock post Q1 results
Most brokerages remain upbeat on Reliance Industries Limited (RIL), after the company posted a 7 per cent jump in its net profit for the April – June quarter of financial year 2019 – 20 (Q1FY20) at Rs 10,104 crore. The company announced its numbers for the recently concluded quarter post market hours on Friday.
Revenue came in 22.1 per cent higher than the Rs 1.41 trillion in the corresponding period a year ago. Gross refining margin (GRM) for the quarter came in at $8.10/barrel.
RIL’s telecom arm, Reliance Jio, posted a net profit of Rs 891 crore. Average revenue per user (ARPU) came in at Rs 122, while revenue from operations came in at Rs 11,679 crore, up 5.2 per cent.
