Analysts will watch out for more clarity on the Rs 75,000-crore investment in the new energy business, growth in retail store additions and pricing in the telecom business
Reliance Industries has posted a 19 percent year-on-year rise in June quarter profit to Rs 5352 crore. Sales have however declined to Rs 87645 crore, down 4.5 percent YoY.
Analysts on an average expect RIL to post profit of anything between Rs 5,500- 6,000 crore on revenues of Rs 92,000 crore in June quarter. The firm had posted Rs 44730 crore profit on revenues of Rs 918750 crore in the year-ago period.
Reliance Industries (RIL) has reported 31.9 percent year-on-year jump in March quarter profit to Rs 5589 crore, boosted by an improvement in gross refining margins (GRMs), which is partly offset by lower gas output from its flagship KG-D6 basin.
Reliance Industries' Q2 numbers were almost in-line with street expectations. As expected, declining gas output from the energy giant‘s KG-D6 fields and muted performance in the petchem business led to an almost 5.7% decline in profits, YoY.