Consolidated revenue increased by 24% to Rs 101,169 crore during the quarter ending September as against Rs 81,651 crore in year-ago period.

Gross refining margin (GRM), the profit earned on each barrel of crude processed, was $12.0 for the quarter, outperforming the benchmark Singapore complex margins by $3.7 per barrel.

“Management expects GRMs to improve from here on, as there would be limited net refining capacity addition (0.8Mbpd as against an incremental demand growth of 1.4Mbpd in 2017). In Petchem, demand is expected to rise by 4% compared to a 3% increase in supply, which should help in supporting higher margins,” analyst at Emkay Global Financial Services said in a note.

“RIL Q2FY18 result came as a mixed bag where EBITDA (earnings before interest, tax, depreciation and amortization) was above expectation on the back of strong profits from petrochemical division, partially offset by disappointing refinery profit while net profit was below estimates due to interest expense,” IDBI Capital said in Q2FY18 result review.

Reliance Jio surprised with positive EBIT (earnings before interest and tax) in Q2FY18 led by higher ARPU (average revenue per user) of Rs 156.4/month owing to one time conversion charges and higher subscriber base of 138.6 million, added report.

At 09:38 AM; the stock was trading 0.83% higher at Rs 884 on BSE, as compared to 0.73% rise in the S&P BSE Sensex. Thus far in the calendar year 2017, it rallied 63% against 22% gain in the benchmark index.