Moneycontrol
Jan 11, 2018 01:03 PM IST | Source: Moneycontrol.com

Q3 to be good for upstream cos; lower EBITDA for HPCL, BPCL: Nomura

For RIL, it believes there could be another quarter of strong refining and petchem results. In case of Reliance Jio, there could be a profit of Rs 250 crore, but it may surprise as well.

Global research firm Nomura expects a good December quarter for oil and gas companies.

It believes that Q3 earnings could be good for upstream companies as well as Reliance Industries, while oil marketing companies may disappointment on core numbers.

For RIL, it believes there could be another quarter of strong refining and petchem results. In case of Reliance Jio, there could be a profit of Rs 250 crore, but it may surprise as well.

Among other oil and gas companies, it expects quarter on quarter decline in EBITDA for both HPCL and BPCL.

In case of Indian Oil, it expects 3% QoQ higher EBITDA driven by petchem. Going forward, all three OMCs could surprise on realised inventory gains in Q3.

Disclosure: Reliance Industries is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.
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