RIL profit seen down, ONGC may rise: Reuters Poll
REUTERS - Energy major Reliance Industries, controlled by billionaire Mukesh Ambani, is expected to report its second successive drop in quarterly profit, as refining margins are seen slipping to around $6 a barrel from $6.8 in the December quarter, and as gas output from its offshore fields slows further.
State-run Oil and Natural Gas Corp, the country's biggest oil producer, is likely to post a 28 percent rise in March quarter net profit, but a higher share of subsidy burden due to government-set fuel prices is expected to take the shine off gains from higher crude oil prices.
(Reporting by Prashant Mehra in MUMBAI; Editing by Ranjit Gangadharan)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Finance Minister Arun Jaitley on Saturday unveiled a budget that aims to ramp up growth, aided by a slowed pace of fiscal deficit cuts and a raft of tax measures to put private domestic and foreign capital to work. Read | Full Coverage