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Reliance Industries Q2 Earnings Live: Jio Financial Services profit doubles sequentially
Reliance Industries Ltd-backed Jio Financial Services reported a net profit of ₹668.2 crore, doubling from the previous quarter on the back of higher income from operations.
This was the first financial result of the company after it got listed on the stock exchanges on 21 August. Post the demerger of the financial services business of Reliance Industries, Jio Financial Services plans to enter consumer finance, asset management and insurance.
The company’s total revenues stood at ₹608 crore in the September quarter, up 47% from the sequential quarter. While interest income in Q2 was lower than Q1, a dividend income of ₹217 crore in the September quarter propped up total revenues. Read here
Reliance Industries Q2 Earnings Live: Net profit may rise 9%, revenue may drop 3% QoQ
Nuvama Institutional Equities expects Reliance Industries’ revenue in the quarter ended September 2023 to drop 3% to ₹2,01,558 crore from ₹2,07,559 in the June quarter.
Consolidated net profit of the conglomerate is expected to rise 9% to ₹17,482 crore from ₹16,011 crore, QoQ.
It anticipates 4% QoQ rise in RIL EBITDA on account of strong performance across all verticals.
Reliance Industries Results Live: Brent crude prices averaged $86.4 per barrel in Q2FY24
Brent crude prices averaged $86.4 per barrel in Q2FY24, up 10% QoQ, led by a tighter supply outlook and the extension of voluntary cuts by Saudi Arabia and Russia to December 2023. Analysts expect current Brent prices to sustain at $90/bbl throughout FY25 as IEA expects oil markets to tighten from 2HCY23 onward.
Reliance Industries Results Live: Singapore GRM rose to $9.5/bbl
Singapore GRM saw a sharp QoQ rise averaging $9.5/bbl in Q2FY24 as against $4.0/bbl in Q1FY24. Strong Chinese demand, low inventories of refining products, temporary ban on Russian diesel exports and large speculative positions in diesel on expectation of the US avoiding a recession had rallied refining margins in Q2 though this has moderated recently for the Indian energy companies. Petchem, however, was subdued for the companies in this sector with margins declining 13% QoQ impacted by ongoing weakness in the Chinese property sector, as per Jefferies.
Reliance Industries Results Live: Refining strength, growing upstream to lead EBITDA growth: Jefferies
Reliance Industries’ Q2FY24 Ebitda is expected to be higher sequentially on the back of refining strength, growing upstream and stable consumer business.
O2C Ebitda should see 5% QoQ growth on stronger refining even as petchem remained weak. Upstream Ebitda too should see a sharp 18% QoQ rise on rising gas production, Jefferies said.
Jefferies expects a 2% sequential growth in Jio’s Ebitda led by 11 million subscriber additions and a 1.6% QoQ increase in ARPU driven by higher no of days and improving subscriber mix.
Reliance Retail’s Ebitda should rise 7% QoQ on 12% core revenue growth (21% YoY) and steady margins, according to Jefferies.
Reliance Industries Results Live: Reliance Jio’s EBITDA to rise 3% QoQ to ₹13,000 crore: Nomura
For the consumer-facing business, Nomura estimates Reliance Jio’s EBITDA to rise 3% QoQ to ₹13,000 crore underpinned by strong EoP subscriber additions of 8 million and a modest 0.6% increase in ARPU to ₹182 per month.
Nomura estimates RIL’s retail segment EBITDA to increase by 4% QoQ to ₹5,100 crore, benefiting from a robust pace of store additions and rising footfalls.
Reliance Industries Results Live: Refining margins may rise to $12/bbl
Nomura estimates Reliance Industries’ Q2FY24 consolidated EBITDA to rise strongly by 8% sequentially to ₹41,100 crore, driven by a healthy performance across segments. It estimates standalone EBITDA to increase by a robust 13% QoQ to ₹16,400 crore during the quarter, underpinned by an increase in refining margins to $12 per barrel versus $10 per barrel in Q1FY24, which will be partly offset by a decline in petchem margins.
We factor in a sharp rise in upstream EBITDA underpinned by the rise in volumes following the commencement of the MJ field, while realisation will remain steady QoQ at $10.8/mmbtu.
Reliance Industries Results Live: O2C EBITDA likely to rise 30% YoY: Nuvama
Nuvama Institutional Equities anticipates Reliance Industries’ EBITDA to rise 26% YoY and 4% QoQ on account of strong performance across all verticals. It expects RIL ONG’s EBITDA to rise 45% YoY and 15% QoQ on higher deepwater gas prices.
We expect O2C EBITDA to rise 30% YoY and 2% QoQ on strong refining offset by subdued petchem segment. Benchmark Singapore GRMs grew 36%YoY and 2.3x QoQ on relatively strong demand. Petchem demand however remained weaker during the quarter offset by falling Ethane prices, said the brokerage.
Retail EBITDA is likely to remain strong, up 22% YoY and 6% QoQ, on higher footfalls.
Reliance Jio’s EBITDA is likely to surge 18% YoY and 6% QoQ on a high subscriber base. ARPU shall likely remain flat YoY and QoQ in Q2FY24 at ₹173, as per the brokerage estimates.
Reliance Industries Results Live: Shareholders approve appointment of Isha, Akash and Anant Ambani to RIL board
The shareholders of Reliance Industries (RIL) have approved the appointment of the children of Mukesh Ambani – Isha Ambani, Akash Ambani and Anant Ambani as the company’s non-executive directors, the firm announced in a BSE exchange. The resolutions were passed through postal ballot.
The filing also informed that over 98% of the shareholders were in favour of the appointment of Isha and Akash. However, Anant’s appointment saw some pushback with over 7% votes against the resolution but still almost 93% voted were in favour. Read here
Reliance Industries Q2 Earnings Live: Reliance Retail operating profit may rise 5% QoQ
Kotak Institutional Equities expects EBITDA of Reliance Retail to increase by around 5% QoQ, driven by increased store footprint, and benefits of operating leverage.
Reliance Industries Q2 Earnings Live: Reliance Jio EBITDA may grow 4% QoQ
Kotak Institutional Equities expects EBITDA for Reliance Jio to increase 4% QoQ, driven by 10 million overall net subscriber additions and blended Average Revenue Per User (ARPU) improving to ₹183 versus ₹181 QoQ, on continued subscriber mix improvement, rising FTTH contribution, and QoQ higher days in 2Q.
Reliance Industries Q2 Earnings Live: RIL AGM Outcome
Reliance Industries’ shareholders, in its Annual General Meeting (AGM), approved the appointment of Isha Ambani, Akash Ambani and Anant Ambani as Non-Executive Directors of the company with majority.
Reliance Industries Q2 Earnings Live: Consol EBITDA may rise 21% YoY: Motilal Oswal
Motilal Oswal Financial Services expects Reliance Industries’ consolidated EBITDA at ₹37,900 crore, up 21% YoY and down 1% QoQ. It expects O2C segment’s EBITDA to grow 40% YoY and 3% QoQ to ₹16,800 crore. Production meant for sale is likely to rise 6% YoY to 17.2 mmt. Expect EBITDA/mt at $83, up 22% YoY.
Further clarity on ₹75,000 crore announcements in the new energy business, growth in Retail store additions, and any pricing action in Telecom are the key monitorable, said the brokerage house.
Reliance Industries Q2 Earnings Live: Standalone EBITDA to improve 9% QoQ
Kotak Institutional Equities expects RIL’s standalone EBITDA to improve 9% QoQ as increase in KG basin gas production and likely sequential improvement in GRMs would be partly offset by QoQ weaker petchem spreads. The brokerage expects consolidated EBITDA to improve by 6% QoQ on better standalone performance and steady growth in digital services and organized retail.
Reliance Industries Results Live: RIL shares gain over 2% ahead of Q2 results; check details
Reliance Industries share price traded over a percent higher on Friday ahead of the announcement of financial results for the quarter ended September 2023. RIL shares opened higher at ₹2,242 apiece as against previous close of ₹2,226.20 on the BSE. RIL stock gained as much as 2.03% to an intraday high of ₹2,271.55 in Friday early trade. The oil-to-telecom conglomerate will announce Q2FY24 earnings later today. Read here
Reliance Industries Results Live: O2C, Jio, Retail Q2 performance likely to improve
Reliance Industries’ oil to chemicals (O2C) segment’s EBITDA is expected to rise 40% YoY and 3% QoQ to ₹16,800 crore.
EBITDA for Reliance Jio during the September quarter is estimated to increase 4% QoQ, driven by about 10 million overall net subscriber adds and blended ARPU improving to ₹183 from ₹181 in the June quarter on continued subs mix improvement, rising FTTH (Fiber-to-the-Home) contribution, and QoQ higher days in Q2.
Reliance Retail may also see nearly 5% sequential rise in EBITDA driven by increased store footprint, and benefits of operating leverage.
Reliance Industries Results Live: Reliance Jio unveils JioSpaceFiber
Reliance Jio has introduced JioSpaceFiber, India’s first ever satellite-based giga fiber service. This service has been showcased at the India Mobile Congress, offering high-speed broadband connectivity to unreachable areas within India. JioSpaceFiber will soon be accessible throughout the entire nation, offering cost-effective pricing to users.
Currently, Jio serves more than 450 million Indian consumers with high-speed broadband fixed line and wireless services. In its commitment to enhancing digital accessibility for every Indian household, Jio has introduced JioSpaceFiber as an addition to its existing range of broadband services, which includes JioFiber and JioAirFiber, stated the Indian telecom giant. Read here
Reliance Industries Results Live: RIL revenue may fall 2%, PAT likely to grow 21.4% YoY
Reliance Industries’ net sales may fall 2% YoY to ₹2,25,400 crore, while its adjusted net profit may see a 21.4% YoY growth, as per estimates by Motilal Oswal Financial Services. RIL’s consolidated EBITDA for Q2FY24 is expected to rise 21% YoY but fall 1% quarter-on-quarter (QoQ) to ₹37,900 crore. EBITDA margin for the quarter may improve to 16.8% against 13.6% YoY.
Reliance Industries Results Live: RIL shares down 11% YTD
Reliance share price has been underperforming this year. RIL shares have lost over 4% in the last one month and have declined more than 9% in three months. The stock has fallen over 11% year-to-date (YTD).
Reliance Industries Results Live: Profit, EBITDA to show healthy YoY growth
After a subdued show in the April-June quarter, the September quarter (Q2) earnings of India’s diversified behemoth Reliance Industries (RIL) is expected to show healthy year-on-year (YoY) growth in profit and EBITDA (earnings before interest, taxes, depreciation, and amortization) led by decent growth in oil to chemicals (O2C) segment as well as telecom and retail.
Apart from key numbers, investors will focus on updates on new energy business and trends in retail and telecom segments. Read full report here
Reliance Industries Results Live: Reliance Industries, Maruti Suzuki, Cipla, Dr Reddy’s, others to announce Q2 results today
Approximately 98 companies will release their September quarter results today. Some of the major the major players to announce their Q2 Results today are Reliance Industries Ltd (RIL), Maruti Suzuki India Ltd, Bajaj Finserv Ltd, Cipla Ltd, Dr. Reddy’s Laboratories Ltd, and Union Bank Of India. Read here
Reliance Industries Results Live: RIL shares gain ahead of Q2 results
Reliance Industries share price opened higher on Friday ahead of the announcement of financial results for the quarter ended September 2023. RIL shares opened higher at ₹2,242 apiece as against previous close of ₹2,226.20 on the BSE.
RIL stock gained as much as 1.21% to ₹2,253.15 on Friday early trade. The oil-to-telecom conglomerate will announce Q2FY24 earnings later today.
Reliance Industries Results Live: Reliance to announce Q2 results today
Reliance Industries (RIL), the billionaire Mukesh Ambani-led energy-to-telecom conglomerate, is set to report its financial results for the first quarter of FY24 today, October 27.
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