KR Choksey has come out with its second quarter (July-September) earnings estimates for the oil & gas sector. The brokerage house expects Reliance Industries (RIL) to report a 1 percent growth quarter-on-quarter (up 1 percent year-on-year) in net profit at Rs 5,409 crore.
Revenues are expected to increase by 4 percent Q-o-Q (up 2 percent Y-o-Y) to Rs 94,227 crore, according to KR Choksey.
Earnings before interest, tax (EBIT) are likely to rise by 2 percent Q-o-Q (flat year-on-year) to Rs 9,811 crore.
KR Choksey's Report on Reliance Industries:
RIL is expected to clock in lower refining margins at USD 8.0-8.1 per barrel (USD 8.4/bbl in Q1FY14), Petrochemical margins improved on Q-o-Q and Y-o-Y basis. KG-D6 production continued to decline, stood at 13.5 mmscmd.
Weak rupee which will help post the better GRM and petrochemical margins in rupee term.
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