RIL results preview: GRM to decline, petchem biz to drive profitability

Jio's revenue market share, future capital expenditure program in light of the recent acquisition announcement of Reliance Communications' assets would be the key points to look for in the management

Oil-to-telecom conglomerate Reliance Industries (RIL) is expected to report a sequential decline in gross refining margins (GRM), while still maintaining it in double digit. The market is watching out for the telecom division’s performance which surprised the street with an operating profit in the previous quarter.

In a Bloomberg poll, nine analysts estimated the company’s consolidated profit at Rs 84.96  billion against Rs 81.09 billion and seven analysts estimated revenue of Rs1.02 trillion against revenue of Rs 914.81 billion reported in the same quarter a year back. At a standalone level, nine analysts expect revenue at Rs 851.11 billion and