Reliance Industries share price gains over 1% ahead of Q2 results; check details
Reliance Industries share price traded over a percent higher on Friday ahead of the announcement of financial results for the quarter ended September 2023. RIL shares opened higher at ₹2,242 apiece as against previous close of ₹2,226.20 on the BSE. RIL stock gained 1.83% to an intraday high of ₹2267.10 in Friday early trade.
The oil-to-telecom conglomerate will announce Q2FY24 earnings later today. The billionaire Mukesh Ambani-led energy-to-telecom conglomerate Reliance Industries (RIL) is expected to show a healthy rise in net profit and operating income during the second quarter of FY24 led by a decent growth in oil to chemicals (O2C) segment as well as telecom and retail. Reliance Jio and Reliance Retail are also expected to see decent growth in operating income.
Also Read: RIL Q2 Results Preview: Profit, EBITDA to show healthy YoY growth; updates on new energy, retail, telecom to be in focus As per analysts’ estimates, RIL's net sales may fall 2% YoY to ₹2,25,400 crore, while its adjusted net profit may see a 21.4% YoY growth. RIL's consolidated EBITDA for Q2FY24 is expected to rise 21% YoY but fall 1% quarter-on-quarter (QoQ) to ₹37,900 crore. EBITDA margin for the quarter may improve to 16.8% against 13.6% YoY.
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