On a consolidated basis, part of the weakness should have been offset by the increasing earnings contribution from consumer businesses," said HSBC in a research report dated 8 July. Analysts expect RIL's GRM or gross refining margin — what a company makes form turning every barrel of crude to fuel — to be $8- $8.5 per barrel. "We expect RIL's GRMs to be down 2% quarter-on-quarter at $8 per barrel due to unfavourable Brent-Dubai and refinery shutdown," said Emkay Research in a report dated 8 July. RIL’s telecom business Jio is expected to report increased profitability quarter-on-quarter, riding on JioPhone sales and subscriber additions. Also, end of season sales, which commenced a week earlier than the base quarter, is expected help the numbers.

Source: Mint July 18, 2019 07:07 UTC