Oil-to-telecom conglomerate Reliance Industries (RIL) is likely to report stronger-than-expected earnings for the July-September quarter, aided by improved refining margins and higher refinery throughput. However, according to Nuvama Research, the bigger story for investors lies in the company’s New Energy business, which could emerge as a meaningful earnings contributor over the next few years.
The domestic brokerage expects RIL’s consolidated EBITDA to rise 17% year-on-year (YoY) to Rs 53,700 crore in Q2FY27, compared with its earlier estimate of 12% growth. Profit after tax (PAT) is projected to increase 15% YoY to Rs 20,900 crore, driven largely by an improvement in refining margins.
