The fall in revenue was partially offset by continuing growth momentum in consumer businesses. Digital Services and Retail business recorded an increase of 36.2 per cent and 27.4 per cent, respectively, in revenue during the quarter compared to the corresponding quarter of the previous year, the press release added.
“The third quarter results for our energy business reflects the weak global economic environment and volatility in energy markets.
Within our O2C chain, downstream petrochemicals profitability was impacted by weak margins across products with subdued demand in well-supplied markets.
Refining segment performance improved in a difficult operating environment given our continuous focus on cost positions, high operating rates and product placement," said Mukesh Ambani, Chairman and Managing Director.
Profit before depreciation, interest, and taxes (PBDIT) increased by 9.6 per cent to Rs 26,088 crore. Cash Profit of RIL during the quarter increased by 10.7 per cent to Rs 18,511 crore. Earnings per share (EPS) stood at Rs 18.4, up 6.1 per cent YoY.
EBITDA (Earnings before interest, tax, depreciation, and amortisation) of Digital Services came in at Rs 5,833 crore, up 43.5 per cent YoY. EBIDTA of Retail business grew a whopping 62.3 per cent YoY to Rs 2,727 crore. The company said it witnessed strong operating performance across consumer businesses.
Gross refining margin (GRM) during the period stood at $9.2/bbl. In the previous quarter GRM stood at $9.4/bbl while in the year-ago quarter numbers stood at $8.8/bbl.
Segment-wise, revenue from the Petrochemicals segment decreased by 19.1 per cent YoY to Rs 36,909 crore due to lower price realizations across product categories. Revenue from the Refining & Marketing segment declined by 7.2 per cent YoY to Rs 103,718 crore while Segment EBIT increased by 11.9 per cent YoY to Rs 5,657 crore ($ 792 million) with higher throughput and better GRMs.
Outstanding debt as on December 31, 2019 was Rs 306,851 crore ($43.0 billion) compared to Rs 287,505 crore as on March 31, 2019.
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