RIL's Q2 earnings: Focus to be on Reliance Jio numbers

Telecom venture performance will indicate how well the mega investment is paying off

Reliance Industries’ (RIL’s) financials for the quarter-ended September (Q2) to be announced on Friday are being looked at with great expectations. 

While the Street has high hopes from the core refining business, given the benchmark Singapore gross refining margins (GRMs) hitting a high recently, the numbers of telecom venture Jio would be closely monitored. 

The telecom business has been drawing the attention of investors, industry players and customers, and July-September will be the first quarter when RIL starts reporting Jio’s financial performance.

The refining and petrochemicals businesses contribute over 80 per cent to RIL’s revenue and profits. Hence, their performances