Reliance Industries Q2 Results Updates: Mukesh Ambani RIL likely to post weak numbers today; HCL Tech posts profit growth of 10.5% YoY
RIL Q2 Results , Reliance Industries Q2 Results Updates: Reliance Industries Ltd (RIL) will report its fiscal second quarter earnings today with profit expected to fall, per analysts.
Reliance Industries Q2 Results Updates: The fiscal second quarter earnings season has already started and today, investors and market participants are looking forward to Q2 results announcement by Reliance Industries Ltd (RIL). The Mukesh Ambani-led firm will report its quarterly earnings today and is expected to post weak numbers due to a subdued growth in the refining and petchem businesses. Per a report by JM Financial, RIL is expected to report Q2 Ebitda growth of 2.5 per cent QoQ to Rs 39,700 crore due to a tariff-hike-led 9.4 per cent QoQ rise in digital Ebitda; though it is likely to be partly offset by a 3.9 per cent QoQ decline in the O2C segment due to lower refining and petchem margins.
Jio, meanwhile, is expected to post a steady performance on the back of the price hike undertaken by the telecom company, and the retail segment’s profitability should be resilient, per analysts.
During Q1, Reliance Industries had posted profit at Rs 15,138 crore, down 5.5 per cent on-year in comparison to Rs 16,011 crore posted during Q1FY24. The revenue, meanwhile, was at Rs 236,217 crore.
Earlier on Oct 7, RIL had announced that the conglomerate is scheduled to hold its board meeting on October 14 to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter and half year ended September 30, 2024.
News Resources:- The Financial Express