Reuters Market Eye - Energy conglomerate Reliance Industries Ltd’s (RELI.NS) operating profit may lag consensus estimates when it reports quarterly results on Saturday, Thomson Reuters StarMine’s SmartEstimates shows.
StarMine’s SmartEstimates, which places a greater emphasis on forecasts by top-rated analysts, expects the company led by billionaire Mukesh Ambani, to report an operating profit of 76.70 billion rupees ($1.27 billion) for the June quarter, compared with a consensus mean estimate of 82.68 billion rupees.
The latest estimate for Reliance’s quarterly operating profit stands at 77.20 billion rupees from Motilal Oswal Securities, StarMine data adds.
Reliance’s shares closed 0.6 percent lower.
($1 = 60.2500 rupees)
Reporting by Abhishek Vishnoi