RIL's Q1 Net Seen At Rs 6,600 Crore, Announcement On Jio Launch Eyed

Energy-to-retail giant Reliance Industries (RIL) is expected to report a 6 per cent year-on-year rise in its net profit for the first quarter ended June 2016.
 
Analysts polled by NDTV Profit expect RIL to report a net profit of Rs 6,600 crore in the June quarter, against Rs 6,222 crore of the year-earlier period.
 
Net income is however expected to fall 8 per cent Rs 70,886 crore in the June quarter, impacted by a planned refinery shutdown and lower refining margins.
 
Reliance Industries runs the world's biggest refinery in Jamnagar, Gujarat.
 
RIL's gross refining margin (GRM) - the profit earned on processing each barrel of oil - is expected to decline to $9.5 as compared to $10.8 in March quarter and $10.4 in the June quarter of the previous year.
 
Analysts would closely be watching any management commentary on the commercial launch of its Jio telecom services.
 
Reliance has invested Rs 1.5 lakh crore on its ambitious Jio venture, described by chairman Mukesh Ambani as the world's biggest start-up.
 
Reliance Industries shares ended 0.73 per cent higher at Rs 1,012.