RELIANCE INDUSTRIES’ results in the first quarter lived up to the expectations. The company’s consolidated profit grew by more than 66 percent. EBITDA also registered an increase of about 28 percent. The PROFIT of the company’s retail business doubled while the EBITDA of DIGITAL SERVICES reached a record 9268 crores.
If we look at the data of the results, then the consolidated profit of the country’s largest company Reliance Industries in the first quarter of the financial year 2021-22 ended June 30, 2021, declined 7.2 percent on a quarterly basis to Rs 12273 crore.
Let us inform you that in the previous quarter, the consolidated profit of the company stood at Rs 13227 crore. At the same time, in the first quarter of the financial year 2020-21, the consolidated profit of the company was Rs 13223 crore. The company’s consolidated earnings declined by 6.4 percent on a quarterly basis to Rs 1.40 lakh crore in the first quarter as against Rs 1.49 lakh crore in the previous quarter.
On a yearly basis, the consolidated income of the company has seen a growth of 58.6 percent. Let us inform you that in the first quarter of last year, the consolidated income of the company was Rs 88253 crore.
Brokerages commenting on Reliance Industries said that the company’s Q1 results have been good. The energy segment has been a major contributor to this. On the other hand, profitability has been supported by a reduction in other income, interest costs. The company’s Q1 EBITDA remained in line with estimates, while Jio contributed significantly to the results.
NOMURA’s Opinion on RELIANCE IND
NOMURA has a Buy rating on RELIANCE IND and has a target of Rs 2400 for the stock.
MS’s opinion on RELIANCE IND
MS has given an Overweight Rating on RELIANCE IND and has a target of Rs 2262 for the Share.
JPMorgan’s Opinion on RELIANCE IND
JPMORGAN has given a Neutral Rating on RELIANCE IND and has a target of Rs 2250 for the stock.