Reliance Industries likely to report soft June quarter; PAT seen up 1%

MUMBAI: Oil & gas major Reliance Industries is likely to report a weak quarter today as its all three business segments may see a decline.

According to ET Now poll, the company may report a net profit of Rs 5,400 crore during April-June quarter, up 1 per cent, as compared to Rs 5352 crore, Year-on-Year (YoY).

Net sales are expected to be at Rs 98,000 crore, up 11 per cent, from Rs 87,645 crore, YoY.

Q1 Ebitda is likely to go up 6 per cent to Rs 7,515 crore from vs Rs 7075 crore, YoY.

Gross refining margins are seen contracting to $7.8 per barrel vs $8.4 per barrel, YoY.

According to analysts, GRMs may be affected as Singapore GRMs have averaged $5.8 per barrel, down 11 per cent, YoY.

Polyester spreads are also down YoY and QoQ. E&P volumes remained low around 13mmscmd.

The company may announce other income of about Rs 2,100 crore.