Reliance Q3 Results Live: Jio, retail likely to see steady growth, O2C may drag

19 Jan 2024, 02:55 PM IST
Reliance Q3 Results Live: JM Financial maintains ‘Buy’ on RIL, raises target 

Reliance Q3 Results Live: JM Financial maintains ‘Buy’ rating on Reliance Industries as it believes net debt concerns are overdone, and also because RIL has industry leading capabilities across businesses to drive robust 14-15% EPS CAGR over the next 3-5 years with Jio’s ARPU expected to rise at 10% CAGR over FY23-28, and continued strong momentum in Retail. The brokerage firm has marginally tweaked RIL’s FY25-26 EBITDA by 1% to account for continued weakness in petchem margin. It raised the target price on Reliance Industries shares to ₹3,050 from ₹2,900 earlier.

19 Jan 2024, 02:40 PM IST
Reliance Q3 Results Live: Jio EBITDA likely to grow 3.5% QoQ; ARPU may rise to ₹183

Reliance Jio EBITDA is expected to increase nearly 3.5% QoQ, driven by nearly 12 million overall net subscriber adds versus nearly 11 million QoQ and modest increase in blended ARPU (average revenue per user) to ₹183 versus ₹182 QoQ on rising FTTH (Fiber to the Home) contribution. Reliance’s retail business is expected to increase nearly 6% QoQ, driven by increased store footprint, increased footfalls and benefits of operating leverage, according to Kotak Institutional Equities.

19 Jan 2024, 02:25 PM IST
Reliance Q3 Results Live: RIL’s standalone EBITDA to decline nearly 9% QoQ 

Reliance Q3 Results Live: Kotak Institutional Equities expects RIL’s standalone EBITDA to decline nearly 9% QoQ on sequential weakness in refining and petrochemical margins. It expects consolidated EBITDA to decline nearly 2% QoQ as weaker standalone performance is partly offset by continued growth in digital services and organised retail.

Kotak expects an 8% YoY increase in RIL’s net sales and a 2.7% YoY increase in adjusted PAT for Q3FY24.

In E&P, a nearly 18% reduction in the HPHT (high pressure, high temperature) gas ceiling price would likely be offset by QoQ lower costs (from elevated levels in Q2), Kotak said.

19 Jan 2024, 02:10 PM IST
Reliance Q3 Results Live: A look at Reliance share price performance

Reliance Q3 Results Live: Reliance share price has given more than 18% returns in the past three months. RIL stock is up 7% in one month, while it has gained over 10% in one year.

19 Jan 2024, 01:56 PM IST
Reliance Q3 Results Live: RIL to see valuation re-rating led by New Energy business, says Nuvama Equities; raises target price

Reliance Industries Ltd (RIL) is sprinting towards commencing New Energy-chain production and with its strategic mergers & acquisitions (M&A), PLI-wins and plant progress. Thus, given its fully backward integrated 20GW module capacity, Reliance Industries needs a valuation re-rating for its New Energy business, analysts said.

Nuvama Institutional Equities raised its target price on Reliance Industries shares by 5% to ₹3,105 per share by rolling forward RIL’s New Energy valuation to FY26E sales. It has a ‘Buy’ rating on the RIL shares. Read here

19 Jan 2024, 01:36 PM IST
Reliance Q3 Results Live: Revenue seen down 1%, profit up 5.9% QoQ

Reliance Q3 Results Live: Reliance Q3 net profit is expected to rise 5.9% to ₹20,980 crore from ₹19,820 crore in the September quarter. Revenue is estimated to drop 1% to ₹2,29,459 crore from ₹2,31,886 crore, QoQ. Consolidated EBITDA during the quarter ended December 2023 is likely to fall 1.6% to ₹40,324 crore from ₹40,968, sequentially, as per Equirus Securities.

19 Jan 2024, 01:20 PM IST
Reliance Q3 Results Live: RIL profitability to remain flat sequentially

Reliance Q3 Results Live: Reliance Industries’ profitability to remain flat sequentially. Jio and Retail should continue to deliver robust performance, while E&P and O2C should witness decline on lower realizations and product cracks, says Equirus Securities. Margin outlook in refinery and petchem would be key to watch out for.

19 Jan 2024, 01:05 PM IST
Reliance Q3 Results Live: Maintain ‘Accumulate’, raise target on RIL: Prabhudas Lilladher

Reliance Q3 Results Live: Brokerage firm Prabhudas Lilladher maintains its ‘Accumulate’ rating on Reliance Industries and raised target price to ₹2,718 per share from ₹2,618 earlier, valuing standalone business at 7.5x FY26 EV/EBITDA, Retail at 39x FY26 EV/EBITDA and Jio at 15x FY26 EV/EBITDA.

19 Jan 2024, 12:51 PM IST
Reliance Q3 Results Live: RIL Q3 results expected to be lower QoQ with weaker refining margins: Prabhudas Lilladher 

Reliance Q3 Results Live: Reliance Industries’ refining throughput is estimated at 17.0 mmtpa. Petchem profitability will decline QoQ. Refining margins too are expected to decline due to fall in Singapore GRM. We expect Jio to show steady performance (4% QoQ revenue growth and 2% QoQ ARPU hike), while retail segment profitability should be resilient, said Prabhudas Lilladher.

19 Jan 2024, 12:33 PM IST
Reliance Q3 Results Live: Digital EBITDA to grow by 2.9% QoQ led by rise in ARPU

Reliance Q3 Results Live: Reliance Digital EBITDA is expected to grow by 2.9% QoQ to ₹14500 crore due to improvement in Average Revenue Per User (ARPU) to ₹183 from ₹182 in Q2FY24 and increase in net subscribers by 9 million QoQ. Retail EBITDA is likely to grow by 6.3% QoQ to ₹6,200 crore likely driven by rising store count and increase in footfalls, as per JM Financial.

19 Jan 2024, 12:10 PM IST
Reliance Q3 Results Live: RIL share price outlook

Speaking on RIL share price outlook, Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher said, “Reliance share price is looking positive on the chart pattern. Currently, the Sensex heavyweight has crucial support placed at ₹2,705 apiece levels and the stock is facing resistance at ₹2,790 level. Reliance shares may become bullish once they breach the current resistance on a closing basis. So, Reliance shareholders are advised to hold the scrip maintaining stop loss at the ₹2,700 mark. Those who want to make a fresh entry ahead of the Q3 results today can buy Reliance shares at current levels maintaining the stop loss at ₹2,700 level. The stock may go up to ₹2,860 per share level after breaching the ₹2,790 hurdle decisively.”

19 Jan 2024, 11:52 AM IST
Reliance Q3 Results Live: O2C EBITDA to decline 11.7% QoQ to ₹14,400 crore: JM Financial

Reliance Q3 Results Live: Reliance’s O2C EBITDA is estimated to decline 11.7% QoQ to ₹14,400 crore due to moderation in GRM to $10/bbl driven by moderation in diesel cracks and Russian crude discount. It was also impacted by lower refining throughput due to maintenance shutdown and continued weakness in petchem margin, said JM Financial.

The brokerage also assumes E&P EBITDA to rise 13% QoQ to ₹5,400 crore due to lower opex and marginal increase in KG D6 gas output, party offset by cut in ceiling price for HPHT gas. 

19 Jan 2024, 11:34 AM IST
Reliance Q3 Results Live: Revenue growth seen at 3.2%, PAT may fall 9.2% QoQ

Reliance Q3 Results Live: Reliance Q3 consolidated revenue is expected to rise 3.2% sequentially to ₹2,39,270 crore, while its net profit may fall 9.2% QoQ to ₹15,790 crore. EBITDA is likely to fall 1.6% QoQ to ₹40,330 crore, while EBITDA margin is expected to drop by 81 bps to 16.9%, as per estimates by Prabhudas Lilladher.

19 Jan 2024, 11:17 AM IST
Reliance Q3 Results Live: Operating performance to improve amid improving refining margins

Reliance Q3 Results Live: Reliance Industries’ operating performance is likely to improve amid improving refining margins. We expect Jio to show steady performance, while retail segment profitability should be resilient, said brokerage house Prabhudas Lilladher.

19 Jan 2024, 11:00 AM IST
Reliance Q3 Results Live: Reliance share price dips ahead of Q3 results today. Opportunity to buy?

Reliance Q3 Results Live: Ahead of the Q3 results today, Reliance share price today witnessed some selling pressure in the early morning deals. Shares of Reliance Industries Ltd (RIL) today opened higher at ₹2,753 apiece on the BSE but the Sensex heavyweight soon witnessed profit-booking and touched an intraday low of ₹2,718.05 per share level, logging an intraday loss of nearly half a percent on Friday. Read here

19 Jan 2024, 10:46 AM IST
Reliance Q3 Results Live: Retail EBITDA may rise 31%; Jio ARPU to grow 4% YoY

Reliance Q3 Results Live: Reliance Retail EBITDA is likely to remain strong, up 31% YoY and 9% QoQ, on higher footfalls, said Nuvama Institutional Equities. Jio’s EBITDA is likely to surge 13% YoY and 5% QoQ on a high subscriber base (up 9% YoY and 2% QoQ). Average Revenue Per User (ARPU) during the quarter shall likely rise by 4% YoY and 2% QoQ.

19 Jan 2024, 10:29 AM IST
Reliance Q3 Results Live: Q3 EBITDA likely to surge 13% YoY: Nuvama

Reliance Q3 Results Live: Reliance Q3 EBITDA is anticipated to surge 13% YoY and 4% QoQ on account of strong performance across all verticals except the O2C segment. EBITDA for O2C business is expected to remain flat YoY and down 14% QoQ on weak refining and petchem, as per Nuvama Institutional Equities.

Benchmark Singapore GRMs have fallen 14% YoY and 43% QoQ on weak global product cracks. We expect RIL ONG’s EBITDA to rise ~34% YoY/ +9% QoQ on increased production from KG-D6 block offset by 20% YoY dip in deepwater gas prices (-18% QoQ), said the brokerage firm.

19 Jan 2024, 10:06 AM IST
Reliance Q3 Results Live: Singapore GRM fell to $5.6 a barrel in Q3

On the refining margin front, the volatility continued during the October-December quarter. The benchmark Singapore GRM (Gross refining margins) declined to $5.6 a barrel during the 3QFY24 from $9.5 a barrel in 2QFY24. The Petchem margins trend also remained downward in 3QFY24. The Petchem prices declined 3% sequentially and 4% YoY in 3QFY24.

19 Jan 2024, 09:40 AM IST
Reliance Q3 Results Live: RIL may report a 10.6% YoY increase in net sales: Motilal Oswal

According to the estimates of Motilal Oswal Financial Services, RIL may report a 10.6% YoY increase in net sales while adjusted PAT may rise 11.6% YoY for Q3FY24. The brokerage firm expects RIL’s consolidated EBITDA may remain flat QoQ at ₹41,100 crore. O2C segment EBITDA is estimated at ₹16,800 crore, up 40% YoY and up 3% QoQ. Motilal Oswal underscored that further clarity on the ₹75,000 crore announcements in the new energy business, growth in retail store additions, and any pricing action in telecom are the key monitorable.

19 Jan 2024, 09:23 AM IST
Reliance Q3 Results Live: RIL shares open higher ahead of Q3 results

Reliance Industries share price opened over half a percent higher on Friday ahead of the announcement of Q3 results today. Reliance shares opened at ₹2,753.00 apiece on the BSE as against previous close of ₹2,734.90.

19 Jan 2024, 09:10 AM IST
Reliance Q3 Results Live: RIL, HUL, Hindustan Zinc, Paytm, others to announce Q3 results today

Since the start of the Q3 results season last week with the announcement of the Q3 scorescards by four IT heavyweights, investors have been eagerly looking forward to Reliance Industries’ (RIL) Q3 earnings today. Today, apart from Reliance Industries Ltd, a handful of companies will be releasing their Q3 results, including Atul Ltd, Central Bank of India, CESC Ltd, Colab Cloud Platforms Ltd, CreditAccess Grameen Ltd, Futuristic Solutions Ltd, Global Infratech & Finance Ltd, Gujarat Lease Financing Ltd, Hindustan Unilever Ltd (HUL), Hindustan Zinc Ltd, HT Media Ltd, One 97 Communications Ltd (Paytm), RBL Bank Ltd, among others.

19 Jan 2024, 08:56 AM IST
Reliance Q3 Results Live: Revenue growth will be led by consumer business

Reliance’s revenue growth will be led by its consumer business, especially digital services and retail business whereas refining and petrochemical business will report lower growth in Q3FY24, said Rajesh Sinha, Senior Research Analyst at Bonanza Portfolio.  He expects RIL’s exploration and production (E&P) business to deliver positive performance. However, the O2C business may witness a decline on account of product cracks and lower realisations.

Sinha said EBITDA of RIL is expected to decline marginally on a quarter-on-quarter (QoQ) basis due to moderation in diesel cracks, narrowing of Russian crude discount and lower refining throughput due to maintenance shut-down and continued weakness in petrochemical margin.

19 Jan 2024, 08:40 AM IST
Reliance Q3 Results Live: O2C weakness may impact consolidated Ebitda sequentially

The expectations from Reliance Industries’ consolidated December quarter performance remains a mixed bag with the Oil to Chemical (O2C) segment likely to see some pressure. The consumer-oriented retail and Jio (telecom segment) may see a steady quarter, and partially offset the  weakness in  Oil to Chemicals business. The operating performance on sequential basis may see some decline as per analysts estimates, though on year-on-year basis will still be higher. Read here

19 Jan 2024, 08:20 AM IST
Reliance  Q3 Results Live: RIL Q2 net profit stood at ₹19,878 crore 

Reliance Industries, India’s largest company by market capitalisation, reported a 29.7% year-on-year (YoY) rise in its consolidated net profit at ₹19,878 crore for the quarter ended September 2023. The company’s revenue during Q2FY24 stood at ₹2,31,886 crore. At the operational level, EBITDA saw a healthy 30.2% YoY growth to ₹44,867 crore while the EBITDA margin jumped 390 bps YoY to 17.5%.

19 Jan 2024, 08:05 AM IST
Reliance Q3 Results Live: Digital, retail business to drive profit, revenue; O2C business may remain under pressure

Reliance Industries (RIL) is set to announce its December quarter (Q3FY24) scorecard on Friday, January 19. The company is expected to report a decent set of numbers for the quarter, mainly due to higher utilisation of refineries sustaining their strong operating efficiency. Read here

19 Jan 2024, 07:49 AM IST
Reliance Q3 Results Live: RIL to see decent performance led by Digital services and retail business 

Reliance Industries Q3 Results Live: Reliance Industries is expected to report a decent set of numbers for the third quarter of FY24, driven by higher utilisation of refineries sustaining their strong operating efficiency. The digital services and retail business is expected to lead RIL’s growth for the December quarter. However, the performance of the oil-to-chemicals (O2C) business and refining and petrochemical segment may remain subdued.

19 Jan 2024, 07:35 AM IST
Reliance Q3 Results Live: RIL to announce Q3 results today

Reliance Industries Q3 Results Live: The energy-to-telecom conglomerate, Reliance Industries Ltd (RIL), is set to announce its earnings for the third quarter of FY24 today, January 19. Reliance Industries Q3 results are expected to be released after market hours on Friday. The meeting of the Board of Directors of Reliance Industries is scheduled to be held on Friday, January 19, 2024, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the company for the quarter and nine months ended December 31, 2023.