Prayesh Jain, oil and gas analyst, IIFL expects oil major Reliance Industries to report net profit in the range of 5,750-Rs 5,800 crore this quarter. He expects the overall petro chemicals margins to be lower and EBIT to be around Rs 2,100 crore in Q2.
Rupee depreciation seen in this quarter might help RIL's refining segment because majority of exports happen from that segment. the exploration and production (E&P) segment might also witness better margins because gas realisation dollar linked and US dollar has depreciated. "We have been positive on RIL for sometime and would remain positive if results are in line with our expectations, he added. Below is the edited transcript of Jain's interview with CNBC-TV18. Also watch the accompanying video. Q: What are numbers you are expecting from RIL? The poll that we did threw up a number of Rs 5,750 crore that is a net profit 1-1.5% higher than quarter ago. Where do you stand? A: We are projecting a similar number; we are expecting it to be in the range of Rs 5,750-Rs 5,800 crore. On the refining side, Singapore GRMDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
