Reliance Industries Ltd (RIL) has fixed the record date for issue of bonus shares in the ratio of 1:1. The Mukesh Ambani-led conglomerate, in a late exchange filing on Wednesday, said, "We wish to inform that the Company has fixed Monday, October 28, 2024, as the Record Date for the purpose of determining the equity shareholders of the Company eligible for bonus equity shares of the Company."
Calling it an "early Diwali gift", RIL approved a 1:1 bonus share issue in September. This will be the sixth bonus issuance of the oil-to-telecom major after 1980, 1983, 1997, 2009 and 2017.
Reliance had in 2009 announced bonus shares in the 1:1 ratio. The 1997 bonus issue too was declared in the 1:1 ratio. The 1983 bonus shares were offered in the 6:10 ratio and 1980 in the 3:5 ratio.
Besides this, the company has announced five rights issues, the last one in May 2020. That said, Jio Financial Services Ltd was demerged from RIL in July 2023.
RIL shares today settled 0.75 per cent higher at Rs 2,708. At this price, it has fallen 7.98 per cent in the past one month. The scrip is up 4.56 per cent year-to-date (YTD) as against a 12.77 per cent rise in the BSE Sensex during the same period.
On the earnings front, RIL recorded a 4.78 per cent drop in its consolidated net profit during the second quarter of the ongoing financial year 2024-25 (Q2 FY25). During the quarter under review, the company's net profit came at Rs 16,563 crore as against Rs 17,394 crore in the year-ago period.
The company's total income rose 0.65 per cent to Rs 2,40,357 crore from Rs 2,38,797 crore in the corresponding quarter last year.
Unfavourable demand-supply balance led to sharp 50 per cent decline in transportation fuel cracks and continued weakness in downstream chemical deltas, RIL stated in a release.
"Oil-to-chemicals (O2C) revenue improved with higher volumes and increased domestic placement of products. Digital services revenue increased with the impact of revised telecom tariffs for mobility services and scale-up of homes and digital services businesses. Lower gas price realizations led to 6 per cent lower revenue in the oil and gas segment," it also said.