Reliance Industries Q2 Results Preview: How Are RIL Shares Performing Ahead Of Q2 Results

Reliance Industries shares remained in focus on Friday as the Mukesh Ambani-led oil-to-telecom conglomerate will release its September quarter (Q2) earnings report today. At 10:34 am IST today, the share price of Reliance Industries Limited (RIL) was spotted trading 2% higher at Rs 2270.70 per share.

After a subdued performance in the April-June quarter, Reliance is expected to report a double-digit growth in net profit and healthy year-on-year (YoY) growth in EBITDA led by decent growth in oil to chemicals (O2C) segment as well as telecom and retail.

Key things that investors will look out for in the company's Q2FY24 results include a roadmap for the new energy business, 5G monetization plans, margin outlook in refinery and petchem, and commentary on capex outlay and debt.

Kotak Institutional Equities expects RIL's standalone EBITDA to improve by 7% QoQ, reflecting resilient GRM and improvement in petchem margins, higher E&P profitability on slightly higher gas production.

RIL's EBITDA for R-Jio is estimated to increase 2% qoq, largely driven by 5.7 mn overall net adds, qoq stable blended ARPU at Rs 178 as subscriber mix improvements and rising contribution from FTTH are offset by lower days in the quarter (90 versus 92 in 3Q). The firm expects Reliance Retail's revenue/EBITDA to increase by ~2% qoq, driven by increased store footprint and the benefits of operating leverage.

Meanwhile, with continued subscriber losses at Vodafone Idea, R-Jio is expected to see a gain in market share gains.
In Q1FY24, the company saw a 10.8% decline in its net profit at Rs 16,011 crore, while revenue from operations declined 4.69% to Rs 2,31,132 crore.

The company is expected to announce its Q2FY24 results today evening.