According to the CNBC-TV18 poll, Reliance is expected to post a 9.8% sequential growth in net profit to ₹18,628 crore from ₹16,971 crore in the March quarter.
Revenue is projected at ₹3.05 lakh crore for the June quarter, up 3.7% sequentially from ₹2.94 lakh crore, while EBITDA is estimated to increase 4% quarter-on-quarter to ₹45,896 crore from ₹44,141 crore. The operating margin is expected to remain steady at 15%.
Brokerages expect O2C to power Reliance’s Q1
Brokerages expect the quarter to be supported by a stronger performance in the oil-to-chemicals (O2C) business and a recovery across the company’s consumer-facing businesses.
Singapore gross refining margins (GRMs) averaged $21.3 per barrel during the June quarter, compared with $5.6 per barrel in the corresponding quarter last year.
According to Jefferies, EBITDA from the O2C business is expected to grow 20% year-on-year, while the company’s consumer businesses are likely to report 12% year-on-year EBITDA growth. The brokerage, however, expects EBITDA from the upstream oil and gas business to decline 21% year-on-year due to lower production.
Nuvama expects Reliance Jio’s average revenue per user (ARPU) to increase 3% year-on-year, while the digital business is likely to post 11% year-on-year EBITDA growth.
Shares of Reliance Industries were trading 0.5% up on Wednesday, July 15, at ₹1,299.60.
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