Reliance Industries, HCL Tech, Angel One — Earnings Estimates

Reliance Industries Ltd., HCL Technologies Ltd. and Angel One Ltd. are among the top names that will announce their second quarter results on Monday.

Analyst estimates show that Reliance Industries is likely to report a net profit of Rs 18,813.9 crore and a revenue of Rs 2.35 lakh crore for the quarter ended Sept. 30, 2024.

HCL Technologies Ltd. is likely to clock Rs 4,061.6 crore in profit and Rs 28,637.2 crore in revenue, according to Bloomberg estimates.

Online brokerage firm Angel One Ltd. is estimated to report a profit of Rs 406.6 crore and a revenue of Rs 1,208.5 crore.

Analysts expect mixed results for Reliance, with its consumer businesses like retail and Jio projected to show growth, while its oil-to-chemicals segment may drag down overall performance.

Reliance’s Ebitda is expected to decline 5.5% year-on-year, according to Nuvama, due to weakness in O2C, while Motilal Oswal projects a 2% rise in consolidated Ebitda to Rs 39,700 crore.

Key monitorables for Reliance include further clarity on the Rs 75,000-crore announcements in the new energy business, growth in retail store additions and any pricing action in the Indian telecom industry, according to Motilal Oswal Financial Services Ltd.

HCL Technologies Ltd. on the other hand, is expected to maintain its fiscal 2025 guidance. But analysts warn that margins could be under pressure due to wage hikes and the impact of its State Street divestment.