Wednesday, July 28, 2010

>RELIANCE INDUSTRIES LIMITED: Result Update Q1 FY11

Revenues at Rs582bn, higher by 81.7% yoy and 1.1% qoq; much in line with our estimates

OPM falls 243bps yoy driven by fall in petrochemical EBIT margins yoy

PAT at Rs48.5bn v/s our estimate of Rs49bn

Gas production from KG-D6 field continues to be at 60mmscmd;management guidance as reported by media for not being able to sustain production higher than current levels a cause of concern

We maintain our Market Performer rating as key business segments of refining and petrochemicals will continue to see muted environment

To read the full report: RIL

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