Reliance Industries is all set to report its quarterly financial results on Friday. The Street expects the oil-to-telecom conglomerate to clock a strong performance in the April-June period driven by sustained growth in its oil-to-chemicals (O2C) business, which scaled a record high in revenue in the year ended March 2022.
A key thing to watch out for in Reliance's quarterly numbers will be the performance of its O2C unit, which accounted for almost 57 percent of its total revenue in the year ended March 2022.
Analysts in a CNBC-TV18 poll expect Reliance Industries to report a 50.3 percent increase in consolidated net profit to Rs 24,357 crore for the April-June period compared with the previous three months.
They estimate a rise in the group's gross refining margin (GRM) during the April-June period. Gross refining margin — a key measure of profitability for oil refiners — determines the amount of money a company earns by refining each barrel of crude oil.
The Singapore gross refining margin — a proxy for the profitability of Asian refiners — hit an all-time high of $21.4 a barrel during the quarter, boosted by a pickup in demand globally.
Analysts expect Reliance Industries' gross refining margin to average at a record $17 a barrel in the quarter ended June 2022.
They estimate the conglomerate's consolidated EBITDA — a key metric that determines a company's operational efficiency — to jump to more than Rs 42,000 crore from Rs 31,366 crore in the January-March period.
In the January-March period, Reliance emerged the first Indian company to have a gross revenue of more than $100 billion in a financial year.
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