The Q3 earnings season shifts into high gear today as India's largest corporation, Reliance Industries (RIL), joins a powerful line-up of technology majors, including Wipro, Tech Mahindra, and Tata Technologies. For RIL, the street is looking for stability rather than fireworks, with consolidated net profit expected to grow 6% to approximately Rs 19,271 crore.
Investors will closely track the O2C segment, which is poised for its best growth in four quarters, while the retail division's EBITDA may feel the pinch from a high base and initial losses in the JioMart Quick Commerce ramp-up.
In the IT space, Wipro and Tech Mahindra are under the microscope for their recovery trajectories. Wipro's revenue is pegged to rise 2.8% to Rs 23,331.70 crore, with critical eyes on its Q4 guidance and any updates on the Harman acquisition integration.
Meanwhile, Tech Mahindra is expected to report a sharp 14.94% jump in net profit to Rs 1,372.90 crore. Analysts are specifically hunting for management's confidence in reaching a 15% margin by FY27 and the impact of the new labour code, a theme that has already weighed on the results of peers like TCS.
Some of the other key earnings in focus today are Kesoram Industries, L&T Finance, Jindal Saw, Poonawalla Fincorp and Polycab India, among others.
Q3 Results Live Updates: Federal Bank Media Call
Federal Bank management on media call
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Blackstone investment has received approvals from the board, EGM and Competition Commission of India
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NIM has improved 12 basis points sequentially
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Expect some pressure from the last repo cut, which will play out in Q4 margins
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Advances and deposits should continue to maintain the growth momentum in the last few quarters
Q3 Results Live Updates: Central Bank of India Q3 - Asset Quality
Central Bank of India Q3 Highlights (QoQ)
Gross NPA at 2.70% versus 3.01%
Net NPA at 0.45% versus 0.48%
Q3 Results Live Updates: Central Bank of India Q3
Central Bank of India Q3 Highlights (YoY)
Net profit up 31.7% at Rs 1,263 crore versus Rs 959 crore
NII down 1.1% at Rs 3,502 crore versus Rs 3,540 crore
Operating profit up 16.8% at Rs 2,293 crore versus Rs 1,963 crore
Provisions up 26.5% at Rs 704 crore versus Rs 557 crore
Q3 Results Live Updates: Leela Palace Q3
Leela Palaces Q3 Highlights (Consolidated, YoY)
Net profit at Rs 148 crore versus Rs 56.5 crore.
Revenue up 23.5% at Rs 457 crore versus Rs 371 crore.
EBITDA up 27.2% at Rs 238 crore versus Rs 187 crore.
EBITDA margin at 52% versus 50.5%.
Q3 Results Live Updates: RIL Q3 Preview
RIL Q3FY26: Key Factors
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Overall, a stable quarter; no fireworks expected
- O2C segment to report growth on better refining and weaker INR, partly offset by weak petchem
- Retail EBITDA growth weak on a YoY basis due to a high base, JioMart Quick Commerce losses and the demerger of Reliance Consumer Products
- High base as this year's festive season was split between Q2FY26 and Q3FY26 vs being in Q3FY25 last year
- Reliance Consumer Products demerger and reduced retail selling prices of products post GST rate cut to each have an impact of 2% on topline
- Oil and Gas exploration EBITDA down owing to lower realisation and volumes
Q3 Results Live Updates: RIL Q3 Preview
Reliance Industries Q3FY26 Preview (Consolidated; QoQ)
- Revenue seen up 1% at Rs 257038 crore vs Rs 254623 crore
- EBITDA seen up 4.6% to Rs 47997 crore vs Rs 45885 crore
- EBITDA Margin seen at 18.7% vs 18%
- Net profit seen up 6% at Rs 19271 crore vs Rs 18165 crore
Q3 Results Live Updates: Federal Bank Q3 - Asset Quality Improves
Federal Bank Q3 Highlights (QoQ)
Gross non-performing assets at 1.72% Vs 1.85%
Net non-performing assets At 0.42% Vs 0.48%
Q3 Results Live Updates: Federal Bank Q3
Federal Bank Q3 Highlights (YoY)
Net profit up 9% at Rs 1,041 crore versus Rs 955 crore.
NII up 9.1% at Rs 2,653 crore versus Rs 2,431 crore.
Operating profit up 10.2% at Rs 1,729 crore versus Rs 1,569 crore.
Provisions up 13.7% at Rs 332 crore versus Rs 292 crore.
Q3 Results Live Updates: What To Expect From Tech M?
Let's also take a look at what the street is expecting from Tech Mahindra, another big IT counter set to post results today.
Tech Mahindra Q3FY26
- Revenue expected to rise 1.18% at Rs. 14,160.39 cr vs Rs. 13,994.89 cr
- EBIT expected to rise 4.10% at Rs. 1,768.97 cr vs Rs.1,699.30cr
- Margin expected to rise 35 bps at 12.49 % vs 12.14%
- Net profit expected to rise 14.94% at Rs.1,372.90 cr vs Rs. 1194.49 cr
Source: Bloomberg
Key things to watch out for
- Brokerages are expecting QoQ CC rev growth between 0.5% - 0.7%
- Margin trend and confidence on FY27E margins of 15%
- New labour code impact, as seen in INFY, TCS tech will be in focus
- Commentary on non-telecom biz, as telco is expected to be stable
Q3 Results Live Updates: What To Expect From Wipro?
Wipro is the big IT earnings in focus today. Here is a comprehensive preview of Wipro and what the street is expecting from its Q3FY26 earnings.
WIPRO Q3FY26
- Revenue expected to rise by 2.80% at Rs.23,331.70 cr vs Rs. 22,697.30 cr
- EBIT expected to rise 5.19% at Rs. 3,920.69 cr vs Rs. 3,727.09 cr
- Margin expected to rise by 38.3 bps at 16.80% vs 16.42%
- Net profit expected to rise 3.2% at Rs. 3,349.92 cr vs Rs. 3,246.20 cr
Source: Bloomberg
Key things to watch out for
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Brokerages expect IT Services revenue to be between 0.5% - 0.8% QoQ in CC
- Harman acquisition one month revenue impact
- Margin could see tailwinds from Rupee depreciation & headwinds coming from deal ramp-up
- Q4 guidance, any Buyback announcements & acquisition will be in focus
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AI, BFSI segment, Europe geo & Client spends comments
Q3 Results Live Updates: Hello & Welcome
Hello and welcome. While we keep monitoring the BMC elections 2026 results, it promises to be a big day for the Dalal Street. Lots of exciting Q3 earnings are coming up, including heavyweights like Reliance Industries and Wipro, while Tech Mahindra and Tata Technologies will also report their Q3 earnings later in the day. I will take you through the day's earnings as and when it happens.