{"id":297535,"date":"2019-10-22T12:20:58","date_gmt":"2019-10-22T06:50:58","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=297535"},"modified":"2019-10-22T12:20:58","modified_gmt":"2019-10-22T06:50:58","slug":"stock-corner-buy-reliance-industries-consumer-business-drove-showing","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/stock-corner-buy-reliance-industries-consumer-business-drove-showing\/","title":{"rendered":"Stock corner: \u2018Buy\u2019 Reliance Industries, consumer business drove showing"},"content":{"rendered":"<p>Reliance Industries (RIL) reported in-line standalone revenue of Rs 871.4 bn (-9% y-o-y, flat q-o-q) in Q2FY20. Ebitda came in at Rs 136.7 bn (-8% y-o-y, flat q-o-q) versus our estimate of Rs 136.4 bn owing to the lower-than-expected refinery throughput of 16.7mmt, despite a better GRM of $9.4\/bbl (flat y-o-y, +16% q-o-q). Lower depreciation, combined with higher other income and higher interest cost resulted in a beat of 9% in standalone PAT of Rs 97.0 bn (+10% y-o-y, +7% q-o-q). The company recognised the entire MAT cut in the quarter with an effective tax rate of 20.8% versus 25.4% in Q1FY20.<\/p>\n<p>At the consolidated level, RIL reported Ebitda of Rs 221.5 bn (+5% y-o-y, +4% q-o-q), primarily led by the better-than-expected performance of the digital and retail segments. Higher other income led to consolidated PAT of Rs 113.5 bn (+19% y-o-y, +12% q-o-q. In<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Reliance Industries (RIL) reported in-line standalone revenue of Rs 871.4 bn (-9% y-o-y, flat q-o-q) in Q2FY20. Ebitda came in at Rs 136.7 bn (-8% y-o-y, flat q-o-q) versus our estimate of Rs 136.4 bn owing to the lower-than-expected refinery throughput of 16.7mmt, despite a better GRM of $9.4\/bbl (flat y-o-y, +16% q-o-q). Lower depreciation, combined with higher other income and higher interest cost resulted in a beat of 9% in standalone PAT of Rs 97.0 bn (+10% y-o-y, +7% q-o-q). The company recognised the entire MAT cut in the quarter with an effective tax rate of 20.8% versus 25.4% [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,195,138],"tags":[],"class_list":["post-297535","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/297535","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=297535"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/297535\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=297535"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=297535"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=297535"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}