RIL Q3 nos in line with expectations: Experts

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. Deven Choksey, MD, KR Choksey Securities says, the numbers are in line with the expectations. Agreeing with Choksey, Prayesh Jain, Analyst, IIFL also says, the numbers are pretty much in line with our expectations. According to Choksey, the gross refining margins (GRMs) could be around USD 9-9.5 per barrel in the fourth quarter. Here is a verbatim transcript of the exclusive interview. Also watch the accompanying videos. Q: Your initial reactions on the numbers. The bottom-line seems to be slightly below the consensus expectation and the street? Choksey: We had estimated somewhere around Rs 5,096 crore of net profit and our calculation was somewhere around on USD 8.5 GRM. I think we are basically having slightly better numbers and largely due to the GRM which has come at USD 9. So, if I look at my calculations, basically I think the petchem and the oil and gas have probably come on dotted lines. The refining has been slightly better than our calculations. So, my readings says that it