RIIL Q2 numbers to come out on Oct 13—watch your portfolio

Mukesh Ambani controlled RIIL is set to post its quarterly results on Thursday, October 13. Analysts aren’t really buoyant on the performance of this low-profile company and expect the company to present a tepid set of numbers.

Previous quarter was a poor show where RIIL Q1FY17 profits witnessed a dip by 32 per cent to Rs 3 crore. Total revenue also saw a decline. Segmental performance also was muted as income from product transportation service increased marginally to Rs 6.35 crore on year-on-year basis and income from IT support services improved by 5 per cent to Rs 4.75 crore during the quarter.

Expectations for Q2 are on a lower band of the spectrum as oil & gas sector which constitutes a major portion of the company’s business, has not performed well over the previous quarters. Coming quarters are likely to see better traction in their business as newer investments made by the companies in the sector yield results in future.

RIIL, a Reliance MDAG Company, is mainly engaged in the business of setting up of operating industrial infrastructure. Its main activities include providing transportation of petroleum products, raw water through its pipelines, construction machinery on hire etc.

The company’s 0stock is likely to remain in focus on Thursday. RIIL stock has remained flat to negative over the past few months reflecting its financial performance.