Reliance Industries Results Announcement: Reliance Industries will announce its first quarter results late evening today (23rd July 2021). Preliminary estimates of the results suggest that the group’s consolidated net profit could grow by 30-50 per cent, while sales could grow by 60-100 per cent. The impact of refining and retail business affected by COVID-19 can be seen in the company’s profit, but the benefit of the boom in Jio’s sales can be seen. Jio’s Earning Per Customer (ARPU) may increase in comparison to the March quarter. Its Earning Per Customer (ARPU) in the March quarter has been Rs 138. In the June quarter, it could be Rs 139, while Airtel’s per subscriber earnings are Rs 145.
Despite COVID, sales and profits are expected to increase
Kotak Institutional Equities estimates that the sales of Reliance Industries may register a growth of 80 percent in the current financial year (2020-21) compared to the previous financial year. At the same time, net profit can increase by 24.7 percent. Ebitda can grow by 38.7 percent.
Motilal Oswal Financial Services has forecast a growth of 35 per cent in EBITDA. It has said that sales may increase by 55 percent and profits by 23.8 percent. Brokerage firm Emkay Global has said that sales may increase by 60 percent and net profit may increase by 31.3 percent.
Profit of the giant biopharma company Biocon fell by 36 percent, a setback due to declining sales of generic drugs and special items
Jio can add 55-85 lakh customers
Many analysts believe that Reliance Industries can add 55-85 lakh new customers this time. However, it may remain below the average of the last four quarters. Also, Jio’s per subscriber earnings may increase compared to March. Reliance’s revenue can be Rs 1,41,752 crore. It may remain 60% higher as compared to Rs 88,253 crore in June 2020. The Ebitda of its retail segment may fall by 59 per cent to Rs 1,470 crore. JM Financial in its estimate has said that the EBITDA of the chemical division from oil is likely to increase by 3.9%. Refining margins may remain weak.