has come out with its second quarter (July-September) earnings estimates for the India Energy sector. The brokerage house expects Bharat Petroleum
to report net profit at Rs 1463 crore, down 44.2 percent quarter-on-quarter.
Net Sales are expected to increase by 13.8 percent Q-o-Q (up 15 percent Y-o-Y) to Rs 53381 crore, according to Religare.
Earnings before interest, tax, depreciation and amortisation (EBITDA) are likely to fall by 37.7 percent Q-o-Q (up 88.2 percent Y-o-Y) to Rs 2411.5 crore.
Religare's report on Bharat Petroleum
GRMs to improve to US$ 6.7/bbl on better middle distillate cracks in Q2FY17. Overall earnings to decline to Rs 14.6bn (-44% QoQ) on lack of inventory gains in the marketing and refining businesses.
BPCL’s refining earnings could improve from Q4FY17 to Rs 16bn levels (excluding inventory changes) once the Kochi expansion is completed. Higher GRMs could lead to a 4-5% consensus upgrade in earnings for FY17-FY18.Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.