The outstanding debt on the books of Reliance Industries went up to Rs 1,70,814 crore for the quarter ended June 30, 2015 as against Rs 1,60,860 crore at the end of last fiscal.
The Mukesh Ambani-led petrochem major said that it had a cash and cash equivalents of Rs 87,391 crore at the end of the first quarter in the current fiscal. The company said, "These were in bank deposits, mutual funds, CDs and Government Bonds and other marketable securities."
The company said, "Gross refining margins (GRM) for 1Q FY16 stood at a six year high of $10.4 per barrel as against $8.7 per barrel in 1Q FY15. Strong gasoline cracks led by robust demand growth, lower energy cost and favourable crude differentials helped boost refining margins."
Revenues, however, declined 30% on an year-on-year basis because of the fall in crude oil prices globally. It said, "During 1Q FY16, revenue from the Refining and Marketing segment decreased by 29.9% Y-o-Y to ` 68,729 crore ($ 10.8 billion), while EBIT increased by 37.7% Y-o-Y to a record level of ` 5,252 crore."
KG D6
Reliance said, "KG-D6 field produced 0.44 million barrels of crude oil, 0.08 million barrels of condensate and 37
BCF of natural gas in 1Q FY16, a reduction of 16%, 6% and 13% respectively on a Y-o-Y basis. The fall arise from natural decline at the fields coupled with under performance of new side tracks wells."
Reliance said, "KG-D6 field produced 0.44 million barrels of crude oil, 0.08 million barrels of condensate and 37
BCF of natural gas in 1Q FY16, a reduction of 16%, 6% and 13% respectively on a Y-o-Y basis. The fall arise from natural decline at the fields coupled with under performance of new side tracks wells."
The company reported a consolidated net profit of Rs 6223 crore in the quarter, up from Rs 5,964 crore in the same quarter of last year.
Turnover dropped 23% on an year-on-year basis to Rs 83,064 crore.
The company said that its cash profit increased by 4.3 % to Rs 9,367 crore in the quarter ended June 30, 2015.
Reliance announced its results after market hours but the share price dropped 1.97% in anticipation of a weak quarter.
The share price of Reliance Industries on the Bombay Stock Exchange's (BSE) Sensex closed at Rs 1025.05, down Rs 20.60 on Friday.
