IDBI Capital: Reliance Industries - A Net -Cash Company – Achieved Milestone Before Time
BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
Reliance Industries Ltd.’s Q2 FY21 result was below our estimates at operational level while profit after tax was higher than our and consensus estimates on the back of deferred tax reversal.
Overall, petrochemical profit is ahead of our expectations on the back of both higher than expected volume and margin while refining segment volume and gross refining margin disappointed.
While retail business saw a strong 30%/85% revenue/Ebitda growth QoQ, Jio business recorded 6%/2% QoQ growth, on the back of higher average revenue per user and subscriber base.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the brokerage and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.