RIL may post 14 – 17% PAT for Q2

Published: Saturday, October 15, 2011, 14:45 [IST]

Reliance Industries, the company which occupies the largest pie in terms of market capitalization is expected to post 14-17% rise in its net profit for the quarter ended Sept 30 on Saturday, October 15.

Analysts expect its standalone profit after tax (PAT) to go up at Rs 5,752 crore year-on-year (y-o-y) basis on account of rising crude prices and rise in other income on its deal with BP.

The stock of RIL added 19.95 points or 2.36% at Rs 866.80 on the Bombay Stock Exchange ahead of its second quarter results.

Some analysts also express grim outlook of its results due to decline in gas production and lower output from its KG-D6 block.

Last quarter i.e. for the quarter ended June 30, it posted PAT at Rs 5,661 crore y-o-y.

In September, the company partnered with Siemens Ltd to leverage the 4G wireless networks for law enforcement purpose, which served as another big news.

Views from different brokerage houses:

IDBI Capital and Kotak Institutional Equities have assumed RIL may post 14% y-o-y growth in PAT for second quarter FY12.

Angel Broking expects its PAT to go up by 19% y-o-y.

According to IDFC Securities, RIL may post 17.1% y-o-y growth in PAT to Rs 5,767 crore. And their EBITDA may grow by 14.4%.

Goodreturns.in

Story first published: Saturday, October 15, 2011, 14:45 [IST]

Other articles published on Oct 15, 2011