Petrochemical major Reliance Industries is expected to report standalone net profit at Rs 6,350 crore in June quarter compared to Rs 6,243 crore in March quarter, according to the average of analysts polled by CNBC-TV18.
Analysts expect gross refining margin at USD 9.5 per barrel against USD 10.1 a barrel during the same period. Singapore GRM stood at USD 8 a barrel against USD 8.6 a barrel, quarter-on-quarter.
Higher refining volumes may partially offtake lower GRMs and strong petchem performance may drive earnings this quarter, they said.
Refining EBIT (earnings before interest and tax) is expected to be around Rs 4,650 crore in first quarter of FY16 against Rs 4,730 crore in fourth quarter of FY15.During the same period, petchem EBIT may be around Rs 2,400 crore against Rs 2,120 crore and oil & Gas EBIT is seen around Rs 170 crore against Rs 160 crore.Disclosure: Network 18, which publishes moneycontrol.com, is now part of the Reliance Group.
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