RIL Q4 Preview | Consolidated net profit to surge 38% led by refining business

RIL Q4 Preview | Consolidated net profit to surge 38% led by refining business

Analysts expect the refining business of RIL to benefit from a surge in global gross refining margins





Mumbai / May 06, 2022 / 07:44 AM IST





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Reliance Industries is expected to report bumper earnings for the quarter ended March led by its refining, telecom and retail business even as the petrochemical operations may exhibit some weakness.

The conglomerate is expected to report a 38 percent year-on-year rise in consolidated net profit at Rs 17,167 crore for the quarter ended March, according to an average of six brokerages polled by Moneycontrol.

The company’s consolidated revenues are likely to rise 43 percent on year to Rs 2.1 lakh crore for the reported quarter driven in large part by a bump in earnings of the refining business.

Analysts expect the refining business of RIL to benefit from the surge in global gross refining margins triggered by sanctions imposed on Russia’s oil exports by Western economies following the country’s invasion of Europe.

Singapore benchmark gross refining margins soared 350 percent on year, and 32 percent on quarter, to $8.1 per barrel in the March quarter that will significantly boost RIL’s earnings from selling refining products.

Further, the surge in prices of middle distillates