In today’s unpredictable times, no bad news is good news. Investors of Reliance Industries Ltd (RIL) can take comfort from this thought. After all, its March quarter earnings announced on Friday evening had no unpleasant revelations, even as Jio’s net subscriber additions are striking.
Overall, RIL’s consolidated earnings before interest, taxes, depreciation and amortization (excluding other income) for Q4 stood at ₹23,351 crore vis-à-vis the Bloomberg consensus estimate of ₹23,307 crore.
As such, investors awaiting fresh triggers from RIL’s Q4 earnings may be a tad disappointed. Plus, the second covid wave poses near-term risks. Analysts from Jefferies India Pvt. Ltd have cut consolidated earnings per share by 2% for FY22E to factor in the covid impact.
