RIL to announce Q1 results on July 30 instead of July 24

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Reliance Industries (RIL) on July 21 said it will announce its June quarter earnings on July 30, 2020, instead of July 24 as intimated earlier.

In a BSE release, the company said: "The meeting of the Board of Directors of the company to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter ended June 30, 2020, will be held on Thursday, July 30, 2020, instead of on Friday, July 24, 2020, as intimated earlier."

Brokerages expects the company to report an improvement in the margin for Q1 due to flexible feedstock utilisation and better O2C integration.

"RIL is expected to report GRM at $9.0/bbl, helped by inventory gain as well as discounts offered to Indian refiners at the beginning of the quarter," said Motilal Oswal Financial Services.

Outlook on full economic utilisation of petcoke gasifier will be in focus when the company will announce its June quarter scorecard, said Motilal Oswal.

Shares of the company climbed over a percent higher to hit their fresh 52-week high of Rs 2,000 on BSE on July 22.

The market-capitalisation (m-cap) of the company has now breached Rs 12.6 lakh crore mark on BSE.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.

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