Prabhudas Lilladher has come out with its earnings estimates on Reliance Industries (RIL) for Q1FY13. According to the research firm, company's Q1FY13 sales are likely to go up by 14.2% at Rs 92541 crore, Year-on-Year (YoY) basis.
The company's net profit is seen down 18.7% at Rs 4603.1 crore, YoY. On the back of declining GRMS during the quarter, RIL is likely to report weak set of numbers. Benchmark Singapore GRMs have averaged at US$6.9/bbl. We expect GRMS of US$7.0/bbl for RIL during the quarter. Rupee depreciation (on YoY basis) and higher other income are likely to aid results during the quarter.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
