RELIANCE INDUSTRIES posted a 30 % rise in quarterly profit for Q/E 31.03.2010. But, its lower-than-expected refining margins ate into gains from higher gas output off India's east coast. Reliance said the year-ago result had been restated to include figures from Reliance Petroleum, which it absorbed last year.
RIL posted Q4 net profit of Rs 4710 Cr ($1.1 billion) versus Rs 3,546 Cr a year earlier.
Net Sales for the whole year was 203740 Cr (vs.141224 Cr last year)
Likewise, the effect of additional sales of gas will also be reflected more in current quarter.Since ONGC is seeking higher price for KG Basin Gas, its effect may also be beneficial for Reliance.
Reliance is expecting further gas discoveries also. Its latest acquisitions (of equity n Atlas Energy etc) will also have beneficial impact on its revenues and profits.
PRICE APPRECIATION : Based on these aspects and presumptions, it is felt, current quarter and future quarters' results should be significantly higher than the last (4th) Quarter for which results are declared. Reliance is therefore likely to post good gains on MP also.
Note : readers are welcome to contribute their opinions, suggestions, ideas and corrections, if any.