Mukesh Ambani-led Reliance Industries (RIL) will declare its outcomes for the fourth quarter and monetary 12 months ended March 31, 2020, on April 30. The board of administrators of the oil-to-telecom behemoth will contemplate and approve the standalone and consolidated audited monetary outcomes of the corporate on April 30, RIL mentioned in a regulatory submitting.
“The assembly of the board of administrators of the corporate is scheduled on April 30, to contemplate and approve the standalone and consolidated audited monetary outcomes of the Firm for the quarter / 12 months ended March 31, 2020,” RIL mentioned in a submitting to the Bombay Inventory Trade on Monday.
“The board will advocate dividend on fairness shares of the corporate; and contemplate a proposal to concern fairness shares to present shareholders on rights foundation, as could also be permitted below relevant legislation, topic to such regulatory/statutory approvals, as could also be required,” it added.
Additionally Learn: Why Reliance Industries share value has gained over 19% in 4 periods
The nation’s largest firm by market cap is anticipated to report fall in revenue for March quarter as a result of stock losses within the wake of a hunch in crude oil costs within the worldwide market.
In line with score company Nomura India, RIL’s standalone earnings might fall 11 per cent year-on-year, and 21 per cent on quarter-on-quarter, to Rs 7,610 crore, as a result of weak refining margins. It pegs Reliance’s gross refining margin (GRM) to fall to $7.eight a barrel in Q4FY20 from $9.2 in Q3FY20.
Additionally Learn: Reliance Industries posts file Q3 revenue at Rs 11,640 crore; income down 1.4%
In December quarter, India’s most-valued firm reported a 13.5 per cent rise in consolidated web revenue at Rs 11,640 crore versus Rs 10,251 crore within the corresponding quarter final 12 months, on the again of a turnaround in oil refining enterprise coupled with the continued rise of retail and telecom arms. This was the very best quarterly web revenue earned by any personal firm, surpassing its personal earlier better of Rs 11,262 crore within the July-September 2019 interval.
In Q3 of FY19, RIL posted consolidated income of Rs 1.68 lakh crore compared to Rs 1.71 lakh crore in the identical interval final fiscal.
In the meantime, Reliance Industries share value ended at Rs 1,430.30 apiece, up 0.91 per cent, towards earlier closing value of Rs 1,417.35, on the Bombay Inventory Trade.