Reliance Industries Q3 Earnings Preview: Refining And Retail Businesses To Drive Turnaround

Reliance Industries' Q3 results are on the radar as market experts anticipate a potential turnaround quarter. Deven Choksey, MD of DR Choksey FinServ Private, provides in-depth insights into what to expect from the earnings report. According to him, the refining business is set to recover due to stable crude oil prices and Gross Refining Margins (GRMs), despite a temporary dip in January. The petrochemical and polymer businesses also show stability, contributing to better performance compared to the second quarter. On the exploration front, Reliance continues to demonstrate robust growth in oil and gas production. Retail operations have seen strategic adjustments, including the closure of underperforming stores, SKU optimisation, and a focus on premium products, enhancing profit margins. Meanwhile, the Jio Platforms segment is benefiting from a decline in low-end mobile customers and growth in enterprise and home customer segments. Overall, Deven Choksey predicts a positive turnaround for Reliance in the third quarter, driven by improvements across industrial and consumer-facing verticals.