Reliance Industries Ltd, the energy-to-telecom conglomerate, will announce its earnings for the first quarter of FY25 on July 19. The company’s board of directors will meet and approve standalone and consolidated financial results for Q1FY24 on Friday, July 19.
“…meeting of the board of directors of Reliance Industries of the Company is scheduled to be held on Friday, July 19, 2024, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter ended June 30, 2024,” Reliance Industries said in a regulatory filing.
A presentation to analysts and media on financial results of the Company for the quarter ended June 30, 2024 shall be made on the same day after the meeting, it added.
The billionaire Mukesh Ambani-led Reliance Industries Q1 results will include the June quarter earnings of its O2C business, Jio and Reliance Retail business.
Here’s what to expect from Reliance Q1 results on July 19:
Reliance Q1 Results Preview
Reliance is expected to deliver a modest year-on-year (YoY) growth in revenue for the quarter ended June 2024, but the company’s topline, bottomline and operating profits are expected to decline on a sequential basis.
RIL Q1 consolidated revenue is expected to rise 10% to ₹2.27 lakh crore from ₹2.07 lakh crore in the year-ago quarter. However, it is expected to fall 4% from the March quarter, according to estimates by Nuvama Institutional Equities.
Reliance Q1 net profit is expected to be at ₹15,987 crore, flat YoY and registering a drop of 16% from ₹18,951 crore in the previous quarter.
At the operational level, earnings before interest, tax, depreciation and amortization (EBITDA) in Q1FY25 is expected to rise 4% to ₹39,418 crore from ₹38,093 in Q1FY24 on account of relatively strong performance across ONG, retail and JIO partially offset by weak O2C. EBITDA is likely to fall 3% from ₹42,516 crore, QoQ.
“We expect O2C EBITDA to fall 11% YoY (-19% QoQ) on weak refining and petchem. Benchmark Singapore GRMs have fallen 16% YoY (- 50% QoQ) on weak global product cracks. We expect RIL ONG’s EBITDA to rise ~30% YoY (-8% QoQ) on increased production from KGD6 block offset by 20% YoY dip in deepwater gas prices (flat QoQ),” Nuvama Equities said.
Retail EBITDA is likely to remain strong (up 20% YoY and 3% QoQ) on higher footfalls. JIO’s EBITDA is likely to surge 11% YoY and 3% QoQ on a high subscriber base (up 8% YoY/1% QoQ). Average Revenue Per User (ARPU) shall likely rise by 2% YoY/ 1% QoQ.
At 9:25 am, Reliance shares were trading 0.05% higher at ₹3,165.05 apiece on the BSE.
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