Reliance Industries Shares Fall Ahead of Q4 Earnings

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Reliance Industries is expected to post a net profit of Rs 7,302 crore on sales of Rs 57,708 crore in the March quarter, according to brokers polled by NDTV Profit.

Operating profit from RIL’s refining segment, which contributes nearly three fourth to its overall revenue, is likely to fall 5 per cent to Rs 6,020 crore on account of lower gross refining margins (GRMs).

Gross refining margin is the amount an oil company gets in turning one barrel of crude oil into fuel.

Reliance Industries’ GRM is expected to trend lower at $10.8 per barrel in the March quarter as compared to $11.5 in the December quarter.

RIL’s profitability is likely to be driven by its petrochemical segment, with segment EBIT or operating profit expected to rise 31 per cent to Rs 2,620 crore in Q4.

Production from RIL’s KG-D6 basin and updates on Reliance Jio, the company’s telecom venture, will be closely tracked. Reliance Jio is expected to launch its nation-wide 4G telecom services later in the year.
Reliance Industries shares closed 0.21 per cent lower at Rs 1,038.95.