Petrochemical major Reliance Industries is expected to show eighth consecutive sequential jump in net profit on strong gross refining margin. Profit is seen rising nearly 2 percent quarter-on-quarter to Rs 7,850 crore, according to average of estimates of analysts polled by CNBC-TV18.
Gross refining margin during the quarter is expected to be at USD 11.5 a barrel against USD 10.1 a barrel in previous quarter.
Analysts expect refining throughput at 17.6 MMT in Q3FY17 against 18 MMT in Q2FY17.
Refining earnings before interest and tax is likely to be at Rs 6,690 crore against Rs 5,901 crore and petchem EBIT may be at Rs 3,010 crore against Rs 3,464 crore on sequential basis.
Key expectations
-Strong refining may more than offset the likely weaker petchem segment
-Refining may be driven by improved margins and inventory gainsDisclosure: Reliance Industries owns Network 18 that publishes Moneycontrol.com.
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