Q3 results preview: RIL may see rise in sales but 10% decline in profit

Fuel export taxes may offset sequential recovery in O2C segment, say analysts

Mukesh Ambani-led Reliance Industries (RIL) may report a mixed set of numbers for the third quarter of 2022-23, consensus estimates by Bloomberg show. 

Analysts expect RIL’s Q3 earnings to be declared next week; the company is yet to disclose the date to stock exchanges.

According to analysts at UBS, Morgan Stanley, CLSA, and Goldman Sachs, Q3 earnings would be led by RIL’s telecom and retail businesses, while a sequential recovery in the oil-to-chemicals (O2C) division might be partly offset by fuel export taxes and a weak petrochem margin.

The average price of Brent crude oil between October and December 2022