Reliance Q4 net profit seen down 3.7% amid crude rally
Reliance Industries is expected to report a 3.7% drop in net profit for the fourth quarter, mainly because crude oil prices have shot up more than 40% since late February due to Middle East tensions.
Even with Mukesh Ambani at the helm, the company's vital oil-to-chemicals business is feeling the squeeze.
Jio reportedly adds 5 million users
Despite the profit dip, Reliance's overall revenue could still grow by 8.1%.
The telecom side is shining: Jio reportedly added 5 million new users this quarter, pushing its total to 520 million and bumping up average revenue per user to ₹216.
Retail growth looks slower at just 8%, thanks to tougher competition.
Investors are also watching closely for any news on a possible Jio IPO, as talks with foreign investors could shake things up for Reliance's future plans.