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Analysts expect the company to beat expectations on GRM front. They see GRM at USD 12 a barrel for the quarter against USD 10.6 a barrel in preceding quarter and refining throughput 3 percent higher.
Mayuresh Joshi of Angel Broking reacted by saying it is a clear beat — exceptional set of numbers on the refining as well as on the petchem side
Gross refining margin (GRM) is likely to be at around USD 9-9.5 a barrel against USD 10.4 a barrel in previous quarter. Singapore GRM was USD 6.2 a barrel in September quarter against USD 8 a barrel in June quarter.
Reliance' first quarter standalone net profit rose by 1.2 percent quarter-on-quarter to Rs 6,318 crore compared to Rs 6,243 crore in March quarter.
Catch Alok Agarwal, chief financial officer, Reliance Industries detail the company's Q1 numbers.
The gross refining margin (GRM) of the petrochemical major surpassed street expectations, up 3 percent to hit a 6-year high of USD 10.40 a barrel in June quarter against USD 10.1 a barrel in previous quarter (USD 8.7 a barrel in Q1FY15).
The house is positive on the stock and would be a buyer in it with a target price of Rs 1150, says Sanjeev Panda, research analyst at Sharekhan.
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.
In an interview to CNBC-TV18, Nischal Maheshwari of Edelweiss, says capital goods and private banks will post stronger numbers while metals and cement Q1 results would be a drag on the market.
In an interview with CNBC-TV18‘s Menaka Doshi and Anuj Singhal, IIFL AVP – Research Prayesh Jain, Destimoney President Prayesh Jain and Angel Broking Fund Manager Mayuresh Joshi discussed Reliance Industries fourth-quarter earnings.
Petrochemical major Reliance Industries is set to deliver its best ever quarterly earnings on Friday. Its fourth quarter standalone net profit is expected to be at Rs 6,000 crore, a growth of 18 percent compared to Rs 5,085 crore in third quarter of financial year 2014-15, according to the average of estimates of analysts polled by CNBC-TV18.
According to Reliance Industries CFO, Anil Agarwal the company is very satisfied with the third quarter performance
Reliance Industries on Friday matched street expectations by reporting profit of Rs 5,085 crore for the December quarter, down 11.4 percent compared to Rs 5,742 crore in previous quarter on standalone basis.
Gagan Dixit, oil & gas analyst, Quant, says the petchem business is likely to double in the next 1-1.5 years.
Mayuresh Joshi of Angel Broking, market expert Ambareesh Baliga, Prayesh Jain, Associate VP - Research, IIFL along with Piyush Jain, Equity Research Analyst, Morningstar India share their outlook on RIL‘s earnings for Q2 and the way ahead for the company.
Nitin Tiwari, VP- Institutional Research, Religare Capital Markets expects Reliance petrochemical margins to be better on a sequential basis. However, RIL may post weak earnings on the back of frail US refining margins, he adds.
Analysts expect gross refining margins (GRMs) to decline in line with benchmarks, driven by lower middle-distillates cracks. Gross refining margins are likely to be between USD 7.7-8 a barrel (compared to USD 8.7 a barrel in Q1FY15).
As the earnings season winds up and most of India‘s notable corporates have posted their quarterly results updates, net profits were slightly ahead of estimates, according to projections by brokerage firm Kotak, but there was “limited evidence of a meaningful upgrades to earningsâ€.
Most brokerages have maintained that Reliance Industries business profile is poised to improve going ahead with minor hiccups.
Ambareesh Baliga is positive on RIL‘s Q3 numbers and expects the stock to perform well.
Prakash Diwan, Director, Altamount Capital Management and Deven Choksey, MD KR Choksey Shares and Securities Pvt. Ltd share their views on RIL‘s December quarter numbers.
RIL‘s oil & gas EBIT stood at Rs 540 crore against Rs 356 crore (QoQ). Energy expert Narendra Taneja speaks on the company‘s performance in that segment.
Reliance Industries' net profit grew 0.4 percent sequentially (0.2 percent on yearly basis) to Rs 5,511 crore in the quarter ended December 2013, largely aided by other income. SP Tulsian, SP Tulsian.com shares his views on the companies December quarter numbers.
Petrochemical margins for RIL stood at 10 percent in the previous quarter, which is unlikely to be repeated again, while gross refining margin (GRM) may fall to USD 7.5 per barrel, a nine-quarter low, from USD 7.7 per barrel in the previous quarter.
According to Emkay Global Financial Services, sales of Reliance Industries are expected to decrease by 2 percent Q-o-Q (up 9 percent Y-o-Y) to Rs 102062.2 crore.