Reliance Industries Q3 Results Today: How Are RIL Shares Performing Ahead Of Results?

The share price of Reliance Industries Ltd (RIL) traded in the green in early morning trade on Friday (Jan 19). RIL shares will remain on investors' radar as the country's largest company in terms of market cap will release its Q3FY24 earnings today. All focus will be on the company's revenue, profit, and EBITDA, along with other key metrics for the quarter under review.

Besides, market experts expect Reliance Industries' consolidated December quarter performance to remain a mixed bag with the Oil to Chemical (O2C) segment likely to remain under pressure.

Reliance Industries shares traded 0.44% higher at Rs 2746.90 per share at 9:16 am IST today. At this price, the company has a market capitalization of Rs 18,58,973.60 crore.

Ahead of the results, Nuvama Institutional Equities has raised its target price on Reliance Industries shares by 5% to Rs 3,105 a piece by rolling forward RIL's New Energy valuation to FY26E sales. The brokerage house has maintained a 'Buy' rating on the RIL shares.

What To Expect From RIL Q3 Results?

Market experts believe that the diversified conglomerate is expected to report a decent set of numbers for the quarter under review, thanks to higher utilization of refineries sustaining their robust operating efficiency.
On the back of strong performance in the telecom and retail segments, RIL's consolidated net profit may grow 4% sequentially to Rs 18,080 crore for the quarter ended December 2023, according to the consensus of analysts' estimates tracked by Bloomberg.

However, the company's operating profit-EBITDA is projected to fall marginally or 1.3% sequentially to Rs 40,413 crore. The Oil-to-telecom conglomerate is likely to report satisfactory numbers in the retail segment's revenue and operating numbers on account of higher footfalls, as the third quarter was a season of festivities. The numbers will be supported by strong operational leverage as well.

A Look At Reliance Industries' Q2 Results:

The Oil-to-telecom conglomerate reported a 29.7% year-on-year (YoY) growth in its September quarter consolidated net profit at Rs 19,878 crore. The company's EBITDA grew 30.2% YoY to Rs 44,867 crore while the EBITDA margin jumped 390 bps YoY to 17.5%.

Consolidated revenue of the oil-to-telecom conglomerate rose 1% to Rs 2.34 lakh crore in Q2FY24 as against Rs 2.32 lakh crore in Q2FY23. Capital expenditure for the quarter stood at Rs 38,815 crore with continuing accelerated investments in pan-India 5G roll-out, said the company in a stock exchange filing.

Reliance Industries share price performance:

Shares of Reliance Industries have gained 18.07% in the last three months. The stock has gained 19.34% in the last one year. The last two years and three years returns from the stock have increased 17% and 46% respectively.