Reliance Ind Q3FY18: EBITDA beat driven by petchem and RJio; reiterate ADD

Equirus | Jan. 25, 2018, 4:52 p.m.

EBITDA beats estimates:The O&G segment remained under pressure with EBIT losses of Rs 2.9bn. Retail revenue was up 116% yoy on growth in digital, fashion & lifestyle and petroleum products; segment EBIT jumped 111% yoy. Overall EBITDA growth of 52% yoy at Rs 176bn was 9% above EE. Inclusion of digital services led to a 62%/73% yoy increase in depreciation/interest costs. PAT grew 24% yoy to Rs 94bn, coming in 13% above EE of Rs 83bn. Capex for Q3FY18 stood at US$ 2.7bn.

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