Robust oil earnings likely to drive RIL's Q1 results, say analysts

Retail to benefit from low base; tariff hikes to power telecom growth

Reliance Industries (RIL) is likely to report a strong set of numbers in the quarter ended April-June (first quarter, or Q1) of 2022-23 (FY23), driven by robust oil earnings, say analysts tracking the company.

The company’s retail operations will benefit from a favourable base, while subscriber additions and tariff hikes will drive telecommunications (telecom) growth during the quarter. The company will report its Q1 earnings on Friday (July 22).

According to a Bloomberg poll of analysts, the company is expected to post a consolidated net profit of Rs 21,615 crore on net sales of Rs 2.25 trillion in Q1FY23. Earnings before interest,