Reliance Industries Ltd, the large energy-to-telecom company, will share its financial results for the first quarter of FY25 on July 19. The board of directors will meet to approve the standalone and consolidated financial results for Q1FY24 on Friday, July 19.
In a regulatory filing, Reliance Industries stated, “A meeting of the board of directors is scheduled for Friday, July 19, 2024, to consider and approve the standalone and consolidated unaudited financial results for the quarter ended June 30, 2024.”
Financial Results
After the meeting, a presentation on the financial results for the quarter will be given to analysts and the media.
The Q1 results will cover the June quarter earnings from Reliance’s O2C business, Jio, and Reliance Retail.
What to Expect from Reliance Q1 Results on July 19
Reliance is predicted to show modest year-on-year (YoY) revenue growth for the quarter ending June 2024. However, the company’s overall revenue, profit, and operating profits are expected to decrease compared to the previous quarter.
Analysts from Nuvama Institutional Equities estimate that Reliance’s Q1 consolidated revenue will increase by 10% to ₹2.27 lakh crore from ₹2.07 lakh crore in the same quarter last year. However, it is expected to drop by 4% from the March quarter.
Q1 Net Profit
Reliance’s Q1 net profit is expected to be around ₹15,987 crore, remaining flat YoY but dropping by 16% from ₹18,951 crore in the previous quarter.
On an operational level, earnings before interest, tax, depreciation, and amortization (EBITDA) in Q1FY25 are expected to rise by 4% to ₹39,418 crore from ₹38,093 crore in Q1FY24, due to strong performances in ONG, retail, and Jio. However, EBITDA is likely to fall by 3% from ₹42,516 crore in the previous quarter.
Prediction
Nuvama Equities predicts, “We expect O2C EBITDA to drop by 11% YoY and 19% QoQ due to weak refining and petchem. Benchmark Singapore GRMs have fallen by 16% YoY and 50% QoQ due to weak global product cracks. We expect RIL ONG’s EBITDA to rise by 30% YoY but drop by 8% QoQ due to increased production from KGD6 block offset by a 20% YoY dip in deepwater gas prices (flat QoQ).”
Retail EBITDA is expected to remain strong, rising by 20% YoY and 3% QoQ due to higher footfalls. Jio’s EBITDA is likely to increase by 11% YoY and 3% QoQ due to a high subscriber base (up 8% YoY/1% QoQ). The Average Revenue Per User (ARPU) is expected to rise by 2% YoY and 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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