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Reliance declares numbers today, sharp drop in Jio expected

Jul 19, 2019 12:32 IST

Reliance Industries is set to announce its results today. The company is largely expected to report a drop in its gross refining margins due to unfavourable Brent-Dubai rates and a refinery shutdown. All eyes will be on its telecom vertical Jio, where margins may fall sharply and profitability may be hit because of the transfer of fibre and tower assets to an SPV or special purpose vehicle.