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RIL Results Preview | Net profit likely to surge over 105% in Q1 on robust refining margins

RIL Q1 Results | RIL has benefitted from the substantial rise in margins of refining products like diesel and jet fuel during the June quarter

Mumbai / July 22, 2022 / 11:32 AM IST
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Todays L/H

Reliance Industries Limited is expected to report strong earnings for the quarter ended June, aided by a sharp rise in gross refining margins and strength in its organised retail business.

The oil-to-telecom major is likely to report a 105.7 percent on-year, and 56 percent on-quarter, increase in consolidated net profit to Rs 25,238.8 crore on July 22, according to an average of five brokerages polled by Moneycontrol.

The big jump in bottomline will be driven from the top as consolidated revenue is expected to rise 68.3 percent on-year and 13.6 percent on-quarter, to Rs 2.4 lakh crore in the reporting quarter, as per the Moneycontrol poll.

"RIL expected to report strong growth in earning on both YoY and QoQ basis, backed by significantly stronger refining profitability, along with continued improvement in Telecom ARPU,” brokerage firm YES Securities said in a preview note.