Balaji Telefilms Zooms Nearly 9% On RIL Stake Buy Nod

Reliance Industries Reports Record Profit of Rs 8,196 Crore in Q1 Beats Estimates

RIL'S gross refining margin or what the company earns from turning every barrel of crude oil into fuel came in higher-than-expected at $11.9 per barrel, a $5.5 a barrel premium to Singapore's benchmark GRM which averaged flat at $6.4 per barrel during the quarter. During the quarter, revenues from the refining and marketing segment increased by 18.3% (YoY) to Rs 66,945 crore, compared with Rs 56,568 crore a year ago.

The company announced its financial performance in refining, where the margins stood at United States dollars 11.9 a barrel for the quarter.

Mukesh Ambani's Reliance Industries Ltd (RIL) yesterday said its board approved transaction to pick around 25 per cent stake in Balaji Telefilms by acquiring 2.52 crore shares for about Rs 413 crore. "This was partially offset by losses in oil and gas business due to lower volumes and weak domestic price environment", RIL said.

Revenue from the media business fell 8.8% to Rs. 321 crore with a negative EBIT of Rs. 41 crore.

Moody's Corporation, General Electric Company Q2 2017 Earnings
Immelt will step down at the end of the month and be replaced by health-care unit chief John Flannery. Flannery, a GE veteran, has said he will make cash flow a focus when he takes the helm on August 1.

"We have recorded yet another strong quarterly performance with net profit of Rs. 9,108 crore, up 28 percent Y-o-Y". Revenues on a consolidated basis for RIL during the quarter grew 26.7%, to Rs 90,537 crore, against RS 71,451 crore in Q1FY17.

Reliance Industries Limited on Thursday brought a smile on the faces of millions of its shareholders after announcing a bonus share issue, the first by the corporate entity in 12 years. RIL has invested Rs1.79 trillion in Jio so far and forecast the investment to increase to Rs2.5 trillion by fiscal 2020.

RIL also became India's most indebted company with outstanding debt climbing to Rs. 2,00,674 crore as on June 30, against cash and cash equivalents of Rs. 72,107 crore. RIL will hold its annual general meeting on Friday.

The 30-scrip Sensitive Index (Sensex) of the BSE, which opened at 32,035.88 points, provisionally closed at 32,028.89 points - up 124.49 points, or 0.39 per cent, from the previous close at 31,904.40 points.

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