RIL likely to report slowest profit growth in 15 quarters, say analysts

The operating profit of Mukesh Ambani promoted Reliance Industries’ (RIL) is expected to take a hit in the June quarter. Analysts estimate a decline in earnings before interest, taxation, depreciation and amortization (EBITDA). The company is also expected to see its slowest profit growth in the last 15 quarters. RIL will report its June 2019 ended quarter results on Friday.

In a Bloomberg poll, 10 analysts estimated consolidated net profit at Rs 9,697 crore and a revenue of Rs 1.46 trillion. Consolidated profit for RIL in the April-June 2018 quarter stood at Rs 9,459 crore. “We forecast consolidated EBITDA of Rs 20,200 crore in the June quarter, down 3 per cent quarter-on-quarter and profit after tax at Rs 9,500 crore down 9 per cent sequentially,” said analysts at JP Morgan in a report on the company.