Mukesh Ambani led Reliance Industries (RIL) will be announcing its fourth quarter financial results today. We have collated views of brokers on how they see earnings this time around. The same are as follows:

Nomura expects improved refining GRM of USD 8.7/bbl (vs 7.6/bbl in 3Q), which will help negate the impact of further weak petchem particularly aromatics). It estimates RIL's PAT to be Rs 56.5 billion, up 3% q-q.

While Prabhudas Lilladher expects RIL's net profit to growth of 1.07% y-o-y to Rs 56.5 billion. It estimates RIL to report 4QFY14 GRM at USD9/bbl v/s USD10.1/bbl in 4QFY13 and USD7.6/bbl in 3QFY13. On the petchem front it expects largely flat EBIT on QoQ basis as gains on polymer are neutralized by dismal performance in the polyester segment.

Angel Broking expects the company's top line to increase by 19.6% yoy to Rs 1007.26 billion due to INR depreciation against the USD leading to higher petrochemical prices (in rupee terms). The company's operating margin is expected to contract by 136bp yoy to 7.9% while the company's bottom-line is expected to be increase only by 2% yoy to Rs 57.03 billion due to poor performance from Oil & Gas segment.

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