RIL may post 20% rise in FY08 EBIT - analysts

21 April 2008 08:18  [Source: ICIS news]

MUMBAI (ICIS news)--India’s Reliance Industries Limited (RIL) is expected to report a 20-22% year-on-year rise in its fiscal full year earnings before interest and tax (EBIT) on the back of improved margins, analysts said on Monday.

For the fourth quarter to 31 March, the company is expected to post EBIT of Indian rupees(Rs)31.56bn ($794.36m) and net profit of Rs38bn, up about 20% from the year-ago period, an analyst said.

Earnings growth is likely to be flat on a quarter-on-quarter basis, however, he added.

“Despite higher crude prices, the refining margins increased as the cost of the final product also rose due to supply shortage,” another analyst said.

However, moving forward, the analysts said the pressure on margins would rise due to high feedstock prices.

($1 = Rs39.73)

By: Isha Jha
+65 6780 4359

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