Reliance Industries operating profit may lag estimates

Energy conglomerate Reliance Industries' operating profit may lag consensus estimates when it reports quarterly results on Saturday.

Thomson Reuters StarMine's SmartEstimates, which places a greater emphasis on forecasts by top-rated analysts, expects the company led by billionaire Mukesh Ambani, to report an operating profit of Rs 76.70 billion ($1.27 billion) for the June quarter, compared with a consensus mean estimate of Rs 82.68 billion.

The latest estimate for Reliance's quarterly operating profit stands at Rs 77.20 billion from Motilal Oswal Securities, StarMine data adds.

Reliance Industries' shares closed 0.6 per cent lower on Friday at Rs 976.70.

(Reuters)