In the year-earlier quarter, Reliance Industries reported a consolidated net profit of Rs6,720 crore and revenue of Rs75,117 crore. Photo: ReutersMumbai: Reliance Industries Ltd (RIL) is likely to report an increase in its quarterly profit, as stronger petrochemical margins offset weaker earnings from its refining business. In the year-earlier quarter, the company reported a consolidated net profit of Rs6,720 crore and revenue of Rs75,117 crore. “We expect RIL to report a $10 GRM versus $11.5 in 1Q, the latter including $2 of hedging & inventory gains,” said Citi Research in its report dated 4 October. “RIL is likely to report losses in a small EBIT profit on domestic E&P.

Source: Mint October 19, 2016 19:07 UTC