RIL acquires 24.92% stake in Ekta Kapoor-owned Balaji Telefilms

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In a statement issued here, the company said it has booked a gross written premium of Rs 1,278 crore and an after tax profit of Rs 44 crore for the quarter ended June 30.

If somebody would have invested Rs 10,000 in the year 1977, the amount would now cross Rs1 crore mark in the year 2017. Both refining and petrochemicals segments surprised positively on the revenue and Ebitda fronts.

Led by the gain in the stock, the companys market valuation surged Rs 18,724.39 crore to Rs 5,15,790.39 crore. During the quarter, RIL's capex stood at Rs 25,192 crore, in ongoing projects including petrochemicals and refining business at Jamnagar and digital services business.

Investment book increased to Rs 6,888 crore - a YoY increase of 22 per cent. Ebit margin for the quarter was at 15.8%.

Refining margins rose 3.5% to $11.9 per barrel.

RIL said in a release, "RIL is engaged in the telecom, digital and media businesses".

Consolidated revenues were also helped by revenues from Reliance Retail which saw a growth of 73.6% on year to Rs 11,571 crore.

Revenue of the company grew 26.7 per cent to Rs 90,537 crore primarily on account of increase in prices and volumes of refining and petrochemical products, partially offset by lower prices and volumes from oil and gas exploration and production business. Profit before depreciation, interest and tax came in at Rs 398 crore against Rs 240 crore in the corresponding period of previous year, a growth of 65.8%.

The decision is, however, subject to Balaji Telefilms shareholders' and other approvals.

Separately, Reliance Jio Infocomm (RJio), the telecom arm of Reliance Industries Ltd (RIL), plans to raise Rs20,000 crore through a rights issue of optionally convertible preference shares (OCPS). The board of both the companies approved the transaction at their respective meetings held today. The benchmark Sensex closed flat at 31,904.40 points.

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