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Reliance Industries hits record high ahead of March quarter results

RIL hit a record high of Rs 1,000, up 2.5% on the BSE in early morning trade, surpassed its previous high of Rs 990 recorded on January 23, 2018 in intra-day deal.

SI Reporter  |  Mumbai 

RIL Q1 consolidated net at Rs 7,464 cr

Shares of (RIL) hit a record high of Rs 1,000 per share, up 2.5% on the in early morning trade on the BSE, ahead of its January-March (Q4FY18) today. The stock surpassed its previous high of Rs 990 recorded on January 23, 2018 in intra-day deal.

Textiles to telecom conglomerate, is expected to post its best-ever quarterly consolidated net profit, with the figure expected to be close to Rs 100 billion mark.

The strong quarterly expectations are on the back of its petrochemicals segment performance. In addition, retail and telecom are likely to help the company’s Q4FY18 performance, the Business Standard reported. CLICK HERE TO READ FULL REPORT

Meanwhile, analysts at Edelweiss Securities estimate RIL’s standalone profit after tax (PAT) to rise 2% QoQ to Rs 86.5 billion.

“We expect 5% lower refining EBIT QoQ with GRM of USD11.1/bbl (Q3: USD11.6/bbl). Petchem earnings are likely to improve 11% as new capacities ramp up in addition to robust cracker and polymer margins. We expect continued benefit from US ethane imports and off-gas projects,” the brokerage firm said in result preview.

“We expect modest qoq increase in standalone net income led by steady refining margins at US$11.6/bbl and increase in petchem volumes, which will be partially offset by moderation in margins,” analysts at Kotak Securities said in March earnings preview.

Consolidated net income will be boosted by an increase in Jio's EBITDA due to an increase in revenues; we expect Jio to report modest profits of Rs 8.1 billion as compared to Rs 5 billion in Q3FY18, added report.

First Published: Fri, April 27 2018. 09:21 IST
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