Q1FY24 Preview: Reliance Industries: Revenue seen at Rs. 22,29,997 million, PAT at Rs. 170,462 million

18 Jul 2023 , 12:02 PM

Result date: 21^st July, 2023

Recommendation: Buy

Target price: Rs. 2,712

Reliance Industries (RIL) is set to register a flattish quarter as 20% YoY fall in O2C EBITDA will be offset by E&P, retail and Jio, believe analysts at IIFL Capital Services. As such, on a sequential basis, while Jio and retail may grow 3%, O2C/E&P are set to remain flat. Revenue could come in at Rs. 22,29,997 million. 

The stock price performance would be driven by news flow on Jio Financial Services demerger, and AGM, where the roadmap of new energy business is awaited.

Rs. Million	June 2023 estimates	YoY change	QoQ change
EBITDA	397,694	5%	3%
PAT	170,462	(5)%	(12)%

Source: IIFL Research