RIL stock holds steady ahead of Q3 financial performance

21 Jan 2022 , 01:47 PM

Reliance Industries (RIL) stock is in the focus on Friday ahead of its financial performance for the quarter ending December 2021 (Q3FY22). RIL stock today traded broadly with marginal gains and losses.

At around 1.44 pm, RIL was trading at Rs2482.70 per piece up by Rs3.90 or 0.2% on Sensex. The stock has touched an intraday high and low of Rs2501.95 per piece and Rs2450.15 per piece respectively.

In Q3FY22, RIL is expected to garner a healthy quarter with both bottom-line and top-line front witnessing a substantial growth led by robust performance of the refining segment and recovery in the retail segment.

Further, the Oil-To-Chemicals segment’s operating profit could improve on a sequential basis on the back of an increase in key petrochemical spreads, prices and refining margin. Further, RIL’s telecom and retail business is expected to continue its stellar growth momentum.

In Q2FY22, RIL reported 49.84% growth in total revenues for the Sep-21 quarter on a consolidated basis at Rs174,104cr. On a sequential basis, the revenues were higher by 20.59% compared to Rs144,372cr in the Jun-21 quarter.

Also, for the Sep-21 quarter, net profits were up 43% on a yoy basis at Rs13,680cr while on a sequential basis, the profits were up by 11.46%. For the quarter, the ARPU of Jio stood at Rs143.60, while total data traffic was up 59% at 23 billion GB. The company saw the strongest yoy growth in the Oil to chemicals (O2C) segment on the back of robust crude prices and above-median gross refining margins or GRMs.