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Jio cushions the Covid impact on RIL’s June quarter results

A combination of the work from home culture due to Covid-19, strong traction of JioGigaFiber services and tariff hikes propelled Jio's growth

July 31, 2020 / 07:23 AM IST
Jio cushions the Covid impact on RIL’s June quarter results

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

Amidst a challenging operating environment, Reliance Industries (RIL) (CMP: Rs 2,108; Mcap: Rs 14,25,836 crore) reported mixed results for the June 2020 quarter. As expected, the Petchem, Refining and Retail segments posted a weak performance, with a dip in revenue and margins. A sharp plunge in oil prices, lower demand due to Covid-related disruptions and the lockdowns hurt these businesses. However, Jio continued to beat expectations. It saw strong topline growth and significant margin expansion in Q1 FY21. A combination of...

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