BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Reliance Industries Ltd. Q3 FY21 result was below our estimates at operational level (in line with consensus) while profit after tax was higher than our and consensus estimates on the back of deferred tax reversal and lower interest cost.
Higher volume in oil-to-chemicals, robust polymer margin, higher average revenue per user and lower effective tax rate along with lower interest and higher other income swelled net profit.
However, the company’s new reporting structure (integrated refining and petrochem division to O2C business), led to non-disclosure of gross refining margin.
Lower crack spreads and weaker retail division (excluding investment income) performance during Q3 was a disappointment.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
As a Subscriber you get
Stories
RECOMMENDED FOR YOU
POPULAR