#RELIANCE Result Update
Highlights
✒️ Reliance Industries reported a 15.05 per cent YoY drop in consolidated net profit at Rs 9,567 crore for the quarter ended September 30, posted a net profit of Rs 11,262 crore for the corresponding quarter last year.
✒️ Reliance Industries consolidated revenue from operations fell 24.24 per cent YoY to Rs 1.16 lakh crore.
✒️ Reliance Retail Revenue from operations increased 29.7 per cent QoQ to Rs 36,566 crore.
✒️ Reliance Jio posted 185 per cent YoY growth in net profit at Rs 2,844 crore for the quarter ended September 30. On a QoQ basis, the profit figure grew by 12.85 per cent.
✒️ The petrochemical segment’s revenue grew 17.8 per cent QoQ.
✒️ Revenue from refining and marketing segment increased by 33.3 per cent QoQ
✒️ Revenue from the oil and gas (exploration and production) business declined by 29.8 per cent QoQ.
✒️ Revenue from media business grew 31.5 per cent QoQ.
Impact
✒️ Neutral
Technicals
Share price updates :
✒️ From the last 2 trading sessions, we saw a slight recovery in Reliance Industries after almost 16% from the higher levels. It broke the major psychological support level of 2000 on the downside but was unable to close below the same on the closing basis. For the next couple of sessions, we can expect upside movement in it and it may test 2200 levels on the upside. Any breakout below the 2000 level on the closing basis may further initiate fresh selling in it.