The News Scroll 18 January 2019  Last Updated at 5:18 pm | Source: PTI

RIL shares surge over 4% on quarterly earnings boost

RIL shares surge over 4% on quarterly earnings boost

New Delhi, Jan 18 (PTI) Reliance Industries shares Friday climbed over 4 per cent, driven by robust quarterly earnings from its petrochemical, retail and telecom business.

An all-round performance also helped the company become the first Indian private sector firm to report a quarterly profit of more than Rs 10,000 crore, triggering intense buying in its stock.

The country's most valued firm by market capitalisation saw its shares gain 4.34 per cent to close at Rs 1,182.95 on the BSE. Intra-day, the stock jumped 4.89 per cent to Rs 1,189.25 apiece.

On the NSE, its shares rose by 4.53 per cent to end at Rs 1,185.80 a unit.

Reliance Industries (RIL) was the top gainer among the blue-chip firms on both the key indices Sensex and Nifty during the day.

As a result of rise in its stock price, the company's market valuation climbed up by Rs 31,208.91 crore to Rs 7,49,829.58 crore on the BSE.

In terms of equity volume, 18.09 lakh shares of the company were traded on the BSE, and over 2.56 crore shares changed hands on the NSE during the day.

RIL's December quarter results showed that record earnings from petrochemical, retail and telecom business offset a dip in refinery margins.

The oil-to-telecom conglomerate reported an 8.8 per cent rise in its consolidated net profit to Rs 10,251 crore, or Rs 17.3 per share, in the December 2018 quarter, compared to Rs 9,420 crore in the same period of the previous financial year.

This is the highest quarterly profit by any private company. State-owned Indian Oil Corp (IOC) holds the distinction of posting highest ever quarterly profit by any Indian firm when it had reported a net profit of Rs 14,512.81 crore in January-March 2013.

RIL's revenue jumped by 56 per cent to Rs 171,336 crore in October-December 2018. PTI SUM VHP RVK MKJ

Disclaimer :- This story has not been edited by Outlook staff and is auto-generated from news agency feeds. Source: PTI
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