INSUBCONTINENT EXCLUSIVE:
Shares of Reliance Industries were trading marginally in the red in Friday's session ahead of its financial results for the quarter ended
The scrip was down 0.36 per cent at Rs 1,257 at around 10.10 am (IST), while the BSE Sensex was trading 0.61 per cent lower at 38,655 at
There are hopes that the oil-to-telecom conglomerate may deliver muted profit growth when it unveils June quarter earnings due to
challenges in the refining and petchem segment
However, telecom arm Jio and retail business may drive performance, analysts said
while revenues may rise 19 per cent from a year ago, but drop 1.1 per cent from a quarter ago.
IDBI Capital expects gross refining margins
(GRMs) to decline to $8.2 a barrel from $10.5 a barrel in Q1FY19 while petchem may margin may decline to 18 per cent from 19.5 per cent
Ebitda (earnings before interest, tax, depreciation and amortisation) to slip 2.8 per cent year on year while net profit may grow 3 per cent
year on year and shrink 6 per cent quarter on quarter.