By Premium Research Bureau

After the disappointing performance of two IT biggies- Infosys and TCS, the Q1FY17 performance of Reliance Industries came as a big relief. Beating all expectations, the petrochemical major posted a 4% rise in net profit on the back of improved Gross Refining Margins (GRMs) which rose from $10.8/barrel to $11.50/barrel (QoQ). It beat even our Editor Mr.SP Tulsian’s net profit estimate of Rs.7075 crore with net profit coming in at Rs.7548 crore. Clearly, Monday will be a good day on the bourses for RIL.

As rightly said by Mr.SP Tullsian, “the company has efficienty managed its inventory well, he said, but it won't be able to repeat the inventory gains from one quarter to the next. The overseas assets have been a burden on the company, he said, adding that the company should get rid of those assets so that bleeding stops. The game-changer will be Reliance Jio.”