RIL expected to post record Q4 net profit on refining strength

RIL expected to post record Q4 net profit
With the commencement of the result season FY11, Industry experts expects Indian private petroleum giant, Reliance Industries (RIL) to announce strong fourth quarter results today, despite decline in gas output at its KG basin fields.

Expecting significant results from the refining division of RIL, Elara Capital quoted, "Singapore complex GRMs have averaged around $7.5 per barrel in Q4FY11. Reliance, with its usual complexity premium, should be able to achieve around $10 per barrel in the quarter."

At the same time, Edelweiss Capital expects RIL to report a throughput of 16.9 million tones in its last quarter followed by GRMs of $9.7 per barrel.

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