With a weak rupee at play, RIL to post Q2 profits, stock up

Moneycontrol Bureau

Reliance Industries (RIL), which will post its July-Sept results on Saturday is likely to benefit from a weak rupee and a stronger refinery margin, say analysts. However, with falling gas output from its KG-D6 oil fields and margin pressure in the petrochemicals business, the energy giant will be hardly able to maintain its performance year-on-year (YoY).
Going by atleast four brokerages estimates, the country's largest private sector company by market capitalisation will post a 15-18% increase in its net profit and its revenues are also expected to go upto by around 38-40%.
Ajay Parmar, head of institutional research, Emkay Global Financial Services told moneycontrol.com, "A decline in the value of the rupee against the dollar is definitely a positive trigger for RIL, as 60% of revenues are from exports.