Reliance Industries to announce Q2 earnings today; here’s what to expect

Reliance Industries is set to announce its second quarter (July-September) earnings on Friday. Consolidated profit is expected to be at Rs 8,169 crore for the quarter against Rs 9,079 crore in previous quarter.

According to average estimates of analysts polled by CNBC-TV18, gross refining margin is expected to be at USD 12.5 per barrel for the quarter against USD 11.9 a barrel in previous quarter.

Earnings before interest, tax, depreciation and amortisation (EBIDTA) is likely to be strong at Rs 13,178 crore, compared with Rs 12,554 crore in June quarter.

Margin is seen rising sharply by 150 basis points at 15.4 percent for the quarter, from 13.9 percent in previous quarter.

The operational performance is likely to be driven by its refining and petrochemical businesses that are expected to be strong. Analysts expect another record quarterly petchem earnings.

Key things to watch out for would be Reliance Jio's reported numbers.

Research house Kotak expects loss of Rs 2,530 crore for Jio despite assuming breakeven at EBITDA level.

Reliance had reported one-time gain of Rs 1,087 crore for the quarter ended June 2017.

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