Shares of Reliance Industries Ltd are trading under pressure after their March-quarter earnings missed Street estimates, with the drag coming largely from its energy businesses and softer retail margins.
RIL shares dropped to a low of 1.27% before recovering slightly, and are currently trading marginally lower at Rs 1,327.60 apiece. The stock is down 15.48% year-to-date.
Reliance Industries Q4 Results Key Highlights (Consolidated, QoQ)
- Revenue up 11% to Rs 2,94,059 crore versus Rs 2,64,905 crore (Bloomberg Estimate: Rs 2,82,748 crore)
- Ebitda down 4% to Rs 44,141 crore versus Rs 46,018 crore (Estimate: Rs 47,343 crore)
- Margin contracts 240 basis points to 15.0% versus 17.4% (Estimate: 16.7%)
- Profit down 9% to Rs 16,971 crore versus Rs 18,645 crore (Estimate: Rs 16,944 crore)
Macquarie called it a “soft print,” pointing to weakness in oil-to-chemicals and upstream operations. It also flagged a more structural concern — upstream gas EBITDA appears to be in decline, and the brokerage sees incremental downside risk if energy weakness lingers, especially after recent cuts to consensus earnings forecasts.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.