RIL's Q4 likely be better than Q3, says Tulsian

The flagship company of Reliance Group, Reliance Industries, RIL has announced its third quarter results. The company's Q3 net profit was up 28.14% at Rs 5,136 crore versus Rs 4,008 crore.

Its net sales were up 5.15% at Rs 59,789 crore versus Rs 56,856 crore. SP Tulsian, sptulsian.com says, the numbers are slightly above than what he was expecting on the bottom-line. On top-line, the numbers are flat, he adds. "I think Q4 is likely to be better than Q3." He is quite positive on the petchem segment in the next two to three quarters. According to him, the gross refining margins (GRMs) could be close to USD 9.5 per barrel in the fourth quarter. "I expect a GRM of close to USD 9.5 per barrel, provided crude remains at USD 90 per barrel," he adds. Tulsian says, till expiry, RIL share should rule in the range of Rs 970 to Rs 1,000. Here is a verbatim transcript of the exclusive interview. Also watch the accompanying videos. Q: What is your initial take on the numbers? A: I had estimated a profit after tax (PAT) of Rs 5,060 crore and the company has reported Rs 5,136 crore. I had estimated net sales of Rs 59,450 crore and company reported net sales at Rs 59,789 crore. So, I don