■ Revenues at Rs582bn, higher by 81.7% yoy and 1.1% qoq; much in line with our estimates

■ OPM falls 243bps yoy driven by fall in petrochemical EBIT margins yoy

■ PAT at Rs48.5bn v/s our estimate of Rs49bn

■ Gas production from KG-D6 field continues to be at 60mmscmd;management guidance as reported by media for not being able to sustain production higher than current levels a cause of concern

■ We maintain our Market Performer rating as key business segments of refining and petrochemicals will continue to see muted environment

To read the full report: RIL