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Reliance Industries to announce results today; Q2 FY08 Net Profit seen at Rs 3420 Cr; Net Sales at Rs 33,230 Cr - CNBC TV 18

Thursday, October 18, 2007

Reliance Industries is to announce its Q@ FY 08 results today. According to the CNBC TV 18 estimates, the Q2 FY08 Net Sales are seen at Rs 33,230 crore vs Rs 31522 crore. The numbers are not comparable due to the IPCL merger. The EBITDA is seen at Rs 5442 crore vs Rs 5202 crore and the net profit is seen at Rs 3420 crore vs Rs 3060 crore.

Reliance results are not comparable due to merger with IPCL and the consolidated results are likely to include subsidiaries including retail. The jump in revenues is expected to be led by higher petchem revenues. Improvement in EBITDA will be led by higher refining margins. Gross refining margins are expected to be around $ 12.5-13/bbl Vs $ 9.1/bbl on a YoY basis ($ 15.4/bbl in Q1 FY 08). Singapore GRMs have declined in Q2 FY08 to $ 8-9/bbl. Polyester margins are expected to improve further in Q2. Higher Petchem volumes are expected to provide a surprise.

Posted by FR at 8:55 AM  

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