Q3FY24 earnings preview: Consumer business to boost RIL's earnings

Analysts estimate strong performance in consumer businesses to be offset by a decline in O2C earnings

Reliance Industries’ (RIL’s) consumer business is expected to lead earnings growth in the Q3FY24 performance, according to analysts. While the energy business is expected to show sequential weakness, the consumer business, especially retail, is estimated to show strong growth. The Oil-to-telecom conglomerate will announce its Q3FY24 financial results on Friday.

In a Bloomberg poll, nine analysts estimated consolidated revenue for the company at Rs  2.521 trillion for Q3FY24 and seven analysts estimated an adjusted net income of Rs 18,497 crore for the same period. RIL’s September-23 quarter earnings had received a boost from the improved performance of its energy business,