Reliance Industries will report its first quarter earnings on Thursday. CNBC-TV18 analysis predicts it is going to be a weak quarter even as the stock is up 45 percent this year. It hit a record high of Rs 2,198 on July 27 and the stock has been completely re-rated because of the deleveraging and the stake sale in Reliance Jio to global tech players.
It is expected be a weak quarter as refining, petchem and retail segments were impacted because of the lockdown. Revenues are expected to fall by 16 percent quarter-on-quarter, EBITDA is expected to fall by about 15 percent odd quarter-on-quarter and the margins would be largely flat.
Jio is only one that will have a decent earnings in this quarter because of increased data usage and work-from-home that has increased demand.
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: RIL, the promoter of Reliance Jio, also controls Network18, the parent company of CNBCTV18.com.