RELIANCE INDUSTRIES - Q3FY17 PERFORMANCE DISAPPOINTS ON REFINING

Reliance Industries posted its Q3FY17. Though it has posted a net profit much above what was widely expected, this has come in mainly from other income. More disappointing has been its refining performance where Gross Refining Margin dipped to $10.80/bbl v/s estimates of over $11/bbl. Our Editor, Mr.SP Tulsian had expected GRM to be at $11.60/bbl. He expects the markets to show disappointment over these numbers and the stock could take some beating.

Here is a detailed look at the numbers: