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reliance industries: Reliance earnings momentum likely to slow down over next 2 quarters: Probal Sen


As far as Jio is concerned, it is more of a flattish trend this time around. The subscriber levels are likely to improve a little bit but you are also likely to see an ARPU adjustment because IUC has become zero. So you will have a Rs 14-15 optical reduction in ARPU even though that does not have too much impact on the EBITDA level. So overall a good quarter. On an overall basis, I would expect EBITDA to go up by about 8% QoQ which is about the 6% YoY increase to about $234 billion, while profits are likely to be sharply higher. This year, because of all the O2C bifurcation related adjustments, the actual tax burden has been fairly muted compared to last year and that is why the profit improvements are sharply higher at 40 odd percent to $148 billion, while flattish on QoQ level. ....

Probal Sen ,

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