*WATCH: WWW.KENCES1TRAINING.BLOGSPOT.COM<http://www.kences1training.blogspot.com/> * ** *Reliance Industries (RIL),* India`s largest private company reported a substantial drop in standalone net profit for the quarter ended December 2008 due to increase in interest cost and substantial fall in margin due to fall in oil prices however the company beat analyst expectations.
During the quarter, the profit of the company declined 56.67% to Rs 35,010 million from Rs 80,790 million in the same quarter previous year beating Bloomberg estimates Rs 29,800 million. Net sales declined 8.75% to Rs 315,630 million, while Bloomberg estimates were of Rs 298,953.33 million . The total income for the quarter fell 7.48% to Rs 322,260 million, when compared with the prior year period The company posted earnings of Rs 23.50 a share during the quarter, registering 11.99% decline over prior year period. *Quarterly Results - Standalone (Rs in mn)* *As at* *Dec - 08* *Dec - 07* *%Change* *Net Sales* 315,630 345,900 (8.75) *Net Profit* 35,010 80,790 (56.67) *Basic EPS* 23.50 26.70 (11.99) During the quarter, the operating margin of the company dropped to 16.99% compared with 30.55% in the previous year period. Interest cost increased 91.30% to Rs 4,840 million while depreciation cost rose 8.57% to Rs 13,170 million over previous year period. B.KARTHICK RESEARCH ANALYST WWW.KENCES1TRAINING.BLOGPSOT.COM <http://www.kences1training.blogpsot.com/> --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
