Reliance Industries may report a muted performance for the April-June quarter of FY24, with most brokerages expecting it to have witnessed a year-on-year (YoY) and quarter-on-quarter (QoQ) contraction in revenue and net profit during the period because of a poor showing by its oil-to-chemicals (O2C) division.
The O2C division, which includes refining and petrochemical businesses, accounts for a little over half of RIL s revenue and profit.
A muted showing by RIL in the first quarter of 2023-24 may weigh on the overall corporate earnings, as well as the equity markets.
Emerging market currencies and equities tumbled on Monday, with Malaysian and Thailand indexes diving more than 2%, as inflation concerns grew amid a persisting Ukraine crisis, while China's yuan stood out and hit a record high.
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