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    RELIANCE   INE002A01018

RELIANCE INDUSTRIES LTD

(RELIANCE)
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Delayed Quote. Delayed NSE India Stock Exchange - 05/10 01:02:51 am
1930.35 INR   -0.07%
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Reliance Industries : enjoys petchem rebound but profit misses estimates

04/30/2021 | 10:20am EDT
FILE PHOTO: Labourers rest in front of an advertisement of Reliance Industries Limited at a construction site in Mumbai

BENGALURU, April 30 (Reuters) - India's Reliance Industries said on Friday its quarterly profit doubled, led by a rebound in its petrochemicals and retail businesses, but fell short of analysts' estimates as costs jumped 10%.

The oil-to-telecoms conglomerate, led by billionaire Mukesh Ambani, said consolidated profit climbed 108% to 132.27 billion rupees ($1.79 billion) in the three months to March 31. Analysts on average had expected 134.91 billion rupees, according to Refinitiv data.

Revenue at Reliance's oil-to-chemicals unit – home to both its refining and petrochemicals operations – rose 4.5% in the March quarter. The Mumbai-headquartered company benefited from pent-up demand globally for petrochemical products like PVC plastics, as business activity began to pick up after a coronavirus-hit 2020.

Reliance has built leading businesses in telecom and retail in recent years to diversify away from its mainstay energy arm, which has been recovering slowly from a coronavirus-driven slump in demand.

Its retail business of more than 12,000 stores and supermarkets posted a 20% jump in revenue as shoppers bought more groceries and apparel, resulting in all-time high revenues in those two categories, Reliance said.

Still, India's ongoing massive second wave of the virus, which has spurred lockdowns in many cities, had hit footfalls at stores as well as consumer sentiment, it said.

Revenues at Reliance's telecoms and digital unit Jio, which has been locked in a close battle with Bharti Airtel for subscribers, also jumped about 19%.

Overall, revenue edged up 11% to 1.55 trillion rupees.

Expenses rose 9.8% to 1.43 trillion rupees.

($1 = 73.9750 Indian rupees) (Reporting by Sachin Ravikumar in Bengaluru; Editing by Sriraj Kalluvila and Shailesh Kuber)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHARTI AIRTEL LIMITED 1.82% 568.5 End-of-day quote.11.62%
RELIANCE INDUSTRIES LTD -0.05% 1930.35 Delayed Quote.-2.70%
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Financials
Sales 2021 5 050 B 68 902 M 68 902 M
Net income 2021 472 B 6 434 M 6 434 M
Net Debt 2021 243 B 3 321 M 3 321 M
P/E ratio 2021 27,2x
Yield 2021 0,37%
Capitalization 12 265 B 167 B 167 B
EV / Sales 2021 2,48x
EV / Sales 2022 1,83x
Nbr of Employees 195 618
Free-Float 50,4%
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Technical analysis trends RELIANCE INDUSTRIES LTD
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TrendsNeutralNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 2 260,42 INR
Last Close Price 1 931,75 INR
Spread / Highest target 122%
Spread / Average Target 17,0%
Spread / Lowest Target -30,1%
EPS Revisions
Managers and Directors
NameTitle
Mukesh Dhirubhai Ambani Chairman & Managing Director
Srikanth Venkatachari Joint Chief Financial Officer
Alok Agarwal Joint Chief Financial Officer
K. Sethuraman Group Secretary & Chief Compliance Officer
Savithri Parekh Joint Secretary & Compliance Officer
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