Will Reliance Industries Surprise For The Seventh Straight Quarter?
Reliance’s petrochemicals business is estimated to report better earnings.
After beating consensus estimates for six straight quarters, Reliance Industries Ltd.’s (RIL) standalone net profit is likely to show a marginal decline on a sequential basis for the January-March quarter.
The oil and gas major is expected to report a net profit of Rs 8,021 crore while revenue will likely rise 0.9 percent to Rs 67,222 crore on a quarter-on-quarter basis, according to a consensus estimate of 15 analysts tracked by Bloomberg.
Gross refining margin (GRM), which indicate how much the company earned for converting every barrel of crude into fuel, is expected to be remain flat around $11 per barrel as against $10.8 last quarter.
RIL’s petrochemicals business is estimated to report better earnings on account of volume growth as the company had commissioned paraxylene phase one.
It was the top gainer on the S&P BSE Oil & Gas Index in the fourth quarter outperforming the index for the first time in financial year 2017.
The outperformance followed the announcement that the company’s telecom arm Reliance Jio Infocomm Ltd. would charge its customers, starting April 1, 2017 and has managed to retain close to 7.2 crore subscribers for its paid services.