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    HomeNewsBusinessEarningsWorries ahead of Reliance Industries' Q4 earnings

    Worries ahead of Reliance Industries' Q4 earnings

    Reliance Industries remains under pressure ahead of its earnings results due out on Friday. Doubts about how much natural gas can be extracted from Reliance's KG D6 blocks, and worries over its refining margins, as well as its usage of cash, have led to a string of analyst downgrades in recent weeks.

    April 16, 2012 / 14:34 IST
       
       
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      Reliance Industries remains under pressure ahead of its earnings results due out on Friday. Doubts about how much natural gas can be extracted from Reliance's KG D6 blocks, and worries over its refining margins, as well as its usage of cash, have led to a string of analyst downgrades in recent weeks.


      Top-ranked analysts from StarMine are much more pessimistic about Reliance's upcoming earnings, forecasting a fiscal fourth quarter net profit of Rs 4,258 crore, nearly 7% below the wider consensus forecasts.


      Operating profits are seen at Rs 6,897 crore by this select group, 2.7% below consensus estimates, according to StarMine's SmartEstimates.

      Shares of Reliance Industries were down 0.3% in afternoon trading. Shares have fallen about 8.5% since the beginning of March, compared with a 3.3% fall in the broader Nifty index.

      first published: Apr 16, 2012 02:12 pm

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