RIL misses Street’s profit estimates

THE COMPANY SAID favourable ethane cracking economics and domestic market placements helped sustain petrochemical profitability amid mixed demand conditions.

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Petrochemical demand trends were uneven during the quarter. Domestic demand for polypropylene and polyethylene increased yo-y, supported by consumer goods, automotive and packaging segments. In contrast, PVC demand declined due to prolonged monsoon conditions that weighed on construction and agricultural activity, while PET demand fell sharply as heavy rains reduced operating rates in the beverage sector. Polyester chain margins were marginally lower amid muted textile demand, though stronger paraxylene spreads offered some support.