Reliance Industries Ltd is projected to report steady fiscal fourth-quarter earnings despite the ongoing war in West Asia, a crucial source of global crude supply. Analysts estimate revenue at Rs 2.81 lakh crore and net profit at Rs 16,943.5 crore. The Bloomberg survey indicates EBITDA at Rs 47,108.3 crore.
The oil-to-chemicals (O2C) segment is expected to show mixed performance. While refining margins improved due to elevated product cracks, higher crude costs and increased freight and insurance expenses may offset these gains. Marketing margins are under pressure, with fuel retailing affected by adverse pricing dynamics.
Reliance Jio is anticipated to be a key growth driver, with around 8 million new subscribers and a slight increase in average revenue per user (ARPU). The retail business is also expected to achieve moderate growth, contributing to overall earnings stability. However, the upstream oil and gas segment may face challenges due to production declines and higher operating costs.
The March quarter was marked by significant volatility in energy markets, with Brent crude prices averaging around $82 per barrel. Domestic policy measures provided limited relief to the sector.
