RIL Q1 Results Live: Jio ARPU at Rs 180.5 vs Rs 178.8, up 1% QoQ; board approves dividend of Rs 9/share -

08:48 PM

Reliance Retail Q1 Results: Profit jumps 19% YoY to Rs 2,448 crore, revenue rises 20%

Reliance Retail on Friday reported 18.8% year-on-year (YoY) jump in its June quarter profit to Rs 2,448 crore while the gross revenue rose 19.5% YoY to Rs 69,948 crore.

The EBITDA margin recorded a on-year growth of 30 bps to 7.9% in Q1.

08:10 PM

Mukesh D. Ambani, Chairman and Managing Director, RIL on Jio Financial demerger

The process of demerger of the financial services business – Jio Financial Services Limited – is on track with key approvals in place. I firmly believe that Jio Financial Services is uniquely positioned to foster financial inclusion in India.

07:50 PM

RIL Q1 Results Live: Key Highlights

• EBITDA at ₹ 41,982 crore, up 5.1% YoY – Exception 1QFY23 with historic high refining margins
• O2C impacted by 60-70% decline in fuel cracks with energy market dislocation a year ago, weak PVC delta (-35%)
• Strong contribution from consumer and upstream businesses offset decline in O2C.
• Revenue at ₹ 231,132, down 4.7% with sharp decline in crude prices, partially offset by strong growth in consumer businesses revenue.

07:44 PM

RIL Q1 Results: Profit slumps 11% YoY at Rs 16,011 crore, misses estimates

Diversified conglomerate Reliance Industries (RIL) on Friday reported a year-on-year (YoY) drop of 11% in the consolidated net profit for the quarter ended June to Rs 16,011 crore. Consolidated revenue declined 5.3% YoY to Rs 2.11 lakh crore.

The bottomline was lower than an ET Now poll of Rs 16,421 crore.

07:24 PM

RIL Q1 Results Live: BofA Securities on what to expect from RIL earnings

Estimate a 10% YoY drop in PAT to Rs 16,160 crore, and a 16% fall from March quarter. Consolidated revenue may decline 7% YoY and 4% sequentially to Rs 2.08 lakh crore. Estimate O2C EBIT to be down 6% QoQ mainly on the back of weaker GRMs in the refinery business, offsetting benefits from cheaper Russian crude oil.

Petchem EBIT is largely expected to be flat sequentially, given limited pricing power. Oil and gas business operating profit expected to be largely stable with 1.6% sequential ..

06:33 PM

RIL Q1 Results Live: How to trade this time?

As always, analysts expect the quarterly results to be a non-event for the stock. However, if there are any positive announcements around Jio Financial, then it may help the stock break out of its consolidation zone.

The correction in the stock seen on Thursday amid the demerger will be soon taken off, as the overall trajectory remains positive, said Nagaraj Shetti, technical research analyst, HDFC Securities.

However, RIL has traded in a tight range over the last one year, and has struggled to break Rs 2,750-2,800 levels on the upside, which is a major resistance zone, according to Shetti.

06:31 PM

RIL Q1 Results Live: How shares have performed post earnings in the past

If one looks at the historical performance of RIL post the earnings, the stock has hardly given positive returns in the recent quarters. In the last 12 quarters, RIL stock has given negative returns to investors in 10 instances post earnings.

This is also largely because the conglomerate’s earnings fail to throw any big surprises for Dalal Street investors.

04:47 PM

Reliance Jio Q1 Results: PAT at 4,863 crore vs ET NOW poll of Rs 4,797 cr

Reliance Jio Infocomm Ltd reported a 12% year-on-year rise in standalone net profit for the quarter ended June to Rs 4,863 crore. Revenue from operations increased nearly 10% to Rs 24,042 crore. The reported standalone net profit was higher than the ET Now poll of Rs 4,797 crore. The total expenses for the quarter rose to Rs 17,594 crore from 16,136 crore a year ago.

Network operating expenses, which make for a lion’s share of the total cost, rose to Rs 7.379 crore from Rs 6,842 crore a year ago.
The licence fees/spectrum charges for the quarter stood at Rs 2,204 crore, compared to Rs 2,536 crore a year ago.

Finance cost dipped sequentially to Rs 971 crore from Rs 1,006 crore a quarter ago.

04:30 PM

Foreign holdings in Reliance rises from six-year low on spinoff

India’s largest company Reliance Industries Ltd. saw an uptick in foreign shareholding during the June quarter after dropping to a six-year low, as attractive valuations and positive prospects of its newly spun-off financial services unit drew global funds.

02:52 PM

RIL shares fall over 2% on Macquarie downgrade

Reliance Industries (RIL) share price cracked 2.5% on NSE on Friday after brokerage house Macquarie downgraded the stock following RIL’s demerger with Jio Financial Services (JFSL).

The Sydney-headquartered brokerage has put an ‘Underperform’ rating on the stock for a price target of Rs 2,100.Retaining its price target, Macquarie, in a note, said that it did not ascribe value accretion from JFSL (erstwhile Reliance Strategic Investments).

With the key tactical catalyst in the form of demerger behind now, Macquarie sees RIL shares underperforming on the likelihood of lower earnings going ahead, it said, estimating the FY24-25E net profit at 15%-20% below the visible alpha consensus.

01:45 PM

RIL Q1 Results Live: O2C ops to mar performance

Reliance Industries is expected to see a double-digit fall in profit for the quarter ended June, primarily due to sluggish performance of the oil-to-chemicals business. The company’s consolidated net profit for the quarter is likely to drop 10% year-on-year (YoY) to Rs 16,170 crore, according to the average of estimates given by 10 brokerages. Consolidated revenue is seen down 2% YoY at Rs 2.15 lakh crore. Sequentially, the fall in the bottomline is expected to be steeper at over 16%, while sales are seen rising by a mere 1%.

01:44 PM

RIL Q1 Preview: O2C ops to mar performance

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