Refining, petchem biz to be key drivers for RIL
MUMBAI, NEW DELHI : The performance of its energy business could be a key catalyst for Reliance Industries (RIL) in the December quarter with petrochemicals margins rising and refining recovering from its lows.
According to a Bloomberg survey of 10 brokerages, consolidated revenue is expected to fall to ₹1.21 trillion from ₹1.69 trillion in the year-ago period, while consolidated net profit, according to nine brokers, was expected to come in at ₹11,312 crore. RIL had posted a profit of ₹11,640 crore in the year earlier.
“For the third quarter, we expect RIL to report a 14% quarter-on-quarter (q-o-q) rise in Ebitda and a 16% q-o-q recovery in earnings, two-thirds of which is expected to be driven by a recovery in petrochemicals Ebitda, which we estimate will rise 26% q-o-q (4% year-on-year),” said Morgan Stanley in a note on 8 January.
