RIL Q4 PAT seen down 22.3% at Rs 4177 cr: Angel Broking

Angel Broking has come out with its earnings estimates on Reliance Industries for March quarter FY12. According to the research firm, company's Q4FY12 sales are likely to go up by 16.5% at Rs 84669 crore, Year-on-Year (YoY) basis on the back of higher prices of petrochemical products.

However, the company's net profit is seen down 22.3% at Rs 4177 crore, YoY, mainly due to lower gas production from KG-D6 block.

Angel Broking estimates on Reliance Industries for Q4FY12:

RIL's KG-D6 output hits all-time low

Reliance Industries' (RIL) largest gas fields in the KG-D6 gas block have hit an all-time low production of 28mmscmd as the firm shut six wells due to water and sand ingress. Dhirubhai 1 and 3 gas fields in the eastern offshore KG-DWN-98/3 output plummeted to 28mmscmd during the week ending March 4, 2012.

Including the gas production of 6.5mmscmd from MA fields, total production from KG-D6 block averaged 35mmscmd (significantly below the field development plan of 70 mmscmd approved during 2006) during the same week. We continue to await further clarity on the sustainable levels of production from KG-D6 block.

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