RIL) surprised the street by reporting better-than-expected December
quarter results, boosted by higher gross refining margins (GRMs). The
company posted a net profit of Rs 5,502 crore against a CNBC-TV18 poll
estimate of Rs 5,060 crore.
On a y-o-y basis, profits grew 24 percent after four quarters of declining returns. Meanwhile, quarterly revenues stood at Rs 93,886 crore compared to a poll estimate of Rs 9,0750 crore. Mehul Thanawala, vice-president research, JM Financial Institutional Securities explains that the performance of the refining and petchem divisions aided Reliance to beat the street’s estimates.
On a y-o-y basis, profits grew 24 percent after four quarters of declining returns. Meanwhile, quarterly revenues stood at Rs 93,886 crore compared to a poll estimate of Rs 9,0750 crore. Mehul Thanawala, vice-president research, JM Financial Institutional Securities explains that the performance of the refining and petchem divisions aided Reliance to beat the street’s estimates.
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