MOSCOW (MRC) -- Reliance Industries (RIL) is expected to announce its results for the third quarter ended December 2015, said Financialexpress.
Analysts are expecting a blockbuster quarter for RIL due to higher refining margins and firm petrochemical prices.
For the quarter ended September 2015, RIL posted 12.53 per cent year-on-year and 8 per cent quarter-on-quarter growth in its consolidated net profit figures to Rs 6,720 crore.
KR Choksey Shares and Securities expects a good quarter for RIL with net profit growth of 73 per cent yoy and 37 per cent on qoq basis. The brokerage house said, "We have assumed RIL’s GRMs at USD11.6 per barrel as compared to USD10.6 per barrel in Q2FY16 and USD7.3 in Q3FY15. EBITDA to increase 29 per cent yoy and 34 per cent qoq which reflects higher refining margins and firm petrochemical prices. The company posted the highest GRM in last seven years at USD10.6 a barrel for the quarter ended September 2015 against USD10.4 a barrel in the preceding quarter. According to KR Choksey, "The company may post record gross refining margins (GRM), driven by higher product cracks, higher refining and petrochemical volumes and stable petrochemical margins."
GRM is the difference between the total value of petroleum products coming out of an oil refinery (output) and the price of the raw material, (input) which is crude oil. The margins are calculated on a per-barrel basis. According to Sharekhan, RIL is expected to post double digit growth for the quarter under review. At 12.45 pm, Reliance Industries shares were trading 2.74 per cent up at Rs 1,045.85.
As MRC informed earlier, Reliance Industries Ltd. (RIL) last year put into operation two plants in Dahej, Gujarat, India. The first is a polyethylene terephthalate (PET) resin plant, which consists of two lines with a combined manufacturing capacity of 650 KTA. The plant has been built with Invista technology for continuous polymerization and Buhler AG technology for solid state polymerization.
Reliance Industries is one of the world's largest producers of polymers. The company's polymer production in 2010-11 (polypropylene, polyethylene and polyvinyl chloride) made 4,094 kilo tonnes.
MRC