Weak gross refining margins likely to impact Reliance Industries earnings in the December quarter

Reliance Industries is expected to witness a 17% year-on-year increase in net profit to Rs 5,200 crore and 6% in revenue to Rs 90,000 crore. Adding to the poor show of the company will be the declining output from KG-D6. Petrochemicals will be Reliance Industries’ saving grace as weak gross refining margins are likely to impact its earnings in the December quarter. According to a Business Standard report, apart from the petrochemical segment, the company’s revenue is likely to get a boost from higher other income. Analysts said the petrochemical segment might spring a surprise, owing to good volumes and higher base price effect.
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