RIL Q1 Preview: Profit to Go Up, Refining Might Show COVID-Stress

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RIL Q1 Preview: Profit to Go Up, Refining Might Show COVID-Stress
Credit: © Reuters.

By Aditya Raghunath -- India’s largest business house Reliance Industries Ltd (NS: RELI ) is scheduled to report its earnings for the first quarter of FY22 today, and analysts expect a 30-50% increase in net profit. They also expect a 60-80% increase in sales. These are numbers in comparison to the corresponding period in FY21.

Emkay Global forecasts RIL to report PAT (profit after tax) of Rs 10,855 crore, up 31.3% from Q1 FY21’s Rs 8,267 crore. It has forecasted revenue at Rs 1,41,752 crore, up 60.6% to Rs 88,253 crore in FY21. However, numbers might be down compared sequentially.

HDFC (NS: HDFC ) Securities forecasts a 49.2% increase in PAT to Rs 12,600 crore and 54.3% rise in sales at Rs 1,36,200 crore. “However, refining throughput would decline by 15% sequentially with an emergency shutdown in the SEZ refinery in June. We expect retail EBITDA (earnings before interest, taxes, depreciation and amortization) to decrease 59% sequentially to Rs 1,470 crore. We have estimated 85 lakh subscriber addition for RJio and ARPU of Rs 140, up 1.2%, sequentially,” it said.

Analyst estimates state that Jio might see an addition of 6.5 million – 8.5 million subscribers in the quarter. ARPU (average revenue per user) will be in focus considering that rival Airtel has made a concentrated move to increase its ARPU by discontinuing low-postpaid plans.


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