Reliance Industries, India's most valuable company by market capitalisation, is expected to report an increase in profit for the July to September quarter, after reporting profit declines in three previous quarters in a row.

Reliance is all set to report profit for the July to September quarter following market hours on Monday.

As per a poll by Moneycontrol, the company's profit after tax is likely to jump 21 per cent, from Rs 4,473 to Rs 5,424, in the three months through September quarter-on-quarter. The figure, however, is still down by around 6 per cent year-on-year.

Separately, a report by Economic Times says that various brokerages have projected Reliance Industries' net profit of in the range of Rs 5,317 crore to Rs 5,550 crore.

Gross refining margin, one of the most important parameters to measure profitability of refining company, is expected to jump from $7.6 a barrel in April to June quarter to $9-9.5 a barrel in the July to September quarter.

Commenting on the topic, Religare research report says, "The expansion in refining margins was largely led by middle distillates (diesel and kerosene) followed by some improvement in gasoline and naphtha as well."

Meanwhile, the oil ministry has accused Reliance Industries of deliberately delaying the development of new discoveries in the D6 block.

The block's output has slipped from 62 million standard cubic meters per day to 26 million standard cubic meters per day now. Development of new discoveries in the D6 block is necessary to arrest the rapidly falling output from existing gas fields of the block.