Reliance Industries Ltd. is expected to report a muted set of numbers in the first quarter of the financial year 2024. The company revenue/EBITDA/net profit is expected to decline 8%/1%/15% on a sequential basis owing to weak performance from the oil-to-chemical segment. Retail segment revenue would rise owing to store expansion and higher footfalls. However, as the performance of the fashion segment would be weak, EBITDA growth is expected to be lower. Exploration segment EBITDA would be higher owing to higher volumes, while growth in the telecom segment would be owing to higher subscriber addition.
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