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Oct 12, 2012, 07.10 PM IST | Source: CNBC-Awaaz

Reliance Inds Q2: Analysts see PAT down 6% at Rs 5365 cr

Oil & gas producer Reliance Industries, a flagship company of Mukesh Ambani group, is set to declare its quarterly earnings on Monday (may be after market hours).

Oil & gas producer Reliance Industries  (RIL), a flagship company of Mukesh Ambani group, is set to declare its quarterly earnings on Monday (may be after market hours). Analysts on an average expect the profit after tax to fall by 6 percent year-on-year to Rs 5,365 crore in the second quarter of financial year 2012-13. But the same is likely to grow by 20 percent quarter-on-quarter.

Net sales are seen going up by 2.9 percent QoQ and 20.3 percent YoY to Rs 94,500 crore in the July-September quarter of 2012.

Gross refining margin is expected to be at USD 9-9.5 a barrel in the quarter gone by as against USD 7.6 a barrel in the previous quarter and USD 10.1 a barrel in a year ago period.

Investors should watch out for following factors:

Brent crude prices averaged at USD 110 a barrel, a rise of 1% over previous quarter. Brent crude hit a low of USD 89 a barrel in June and then rose to USD 116 a barrel in mid-August but settled near USD 111 a barrel. So some inventory gains are also expected.

SCRMs (Singapore Complex Refining Margins) averaged at USD 9.13 a barrel in the September quarter as against USD 6.65 a barrel in previous quarter.

The improvement in GRMs on quarter-on-quarter basis is led by improvement in diesel, kerosene, petrol and naphtha spreads. Petrochemicals spreads were almost stable QoQ.

The gas production from its KG-D6 basin is expected to average at around 28 mcmd as against 32 mcmd QoQ, say experts.

Higher other income due to high cash levels and weak rupee is going to support the bottomline of July-September quarter.

READ MORE ON  Reliance Industries, RIL
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