Analysts expect Reliance Industries will report a 25 per cent increase in profits in the second quarter, despite a marginal dip in sales. RIL will announce its second quarter numbers later today.

JM Financial pegs profit after tax (PAT) at Rs 17,173 crore, up 25.8 per cent YoY. Sales are seen falling 2.9 per cent to Rs 2,23,474 crore. Margin is seen at 17.9 per cent. 

As per the estimates of Motilal Oswal, RIL’s net sales may fall 2 per cent year-on-year (YoY) to ₹2,25,400 crore. However, adjusted PAT may see a 21.4 per cent YoY growth.

Kotak Institutional Equites expects a 3 per cent YoY rise in Q2 net sales to the tune of ₹2,37,000.5 crore, while adjusted PAT may rise 25.7 per cent YoY to ₹17,162.6 crore.

It expects RIL’s consolidated EBITDA to improve by 6 per cent QoQ, on abetter standalone performance and steady growth in digital services and organised retail.

“We expect EBITDA for R-Jio to increase 4 per cent QoQ, driven by about 10 million overall net subscriber adds and blended ARPU improving to ₹183 (versus ₹181 QoQ) on continued subs mix improvement, rising FTTH (Fiber-to-the-Home) contribution, and QoQ higher days in Q2 and retail is to increase by nearly 5 per cent QoQ, driven by an increased store footprint, and benefits of operating leverage,” Kotak said in a report.

“We estimate refining throughput of 17 mmtpa. Petchem profitability will decline QoQ, however, refining margins are likely to improve amid q rise in benchmark GRMs. We expect Jio to show a steady performance (3.4 per cent QoQ revenue growth and 1.9 per cent QoQ ARPU hike), while profitability of the retail segment should be resilient,” Prabhudas Lilladher said.

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