RIL Q2 earnings: Brokerages expect decent show on recovery in refining

Mumbai: Energy-to-telecom conglomerate Reliance Industries (RILNSE 1.69 %) is likely to report decent profit growth in September quarter earnings when it unveils its report card on Friday, backed by better performance of the refining business.

Telecom arm Jio and the retail business are also set to deliver steady growth.

Brokerages expect RIL’s consolidated profit after tax to grow 6-12 per cent on a year-on-year (YoY) basis. “A sharp recovery in refining margins coupled with lower ethane and LNG prices and higher petchem volumes should partly offset weakness in benchmark chemical margins and deliver a 7 per cent QoQ (quarter on quarter) growth in standalone earnings,” HSBC said in a note.