RIL Q4 Results Today Live Updates: Reliance's Margin May Compress On Hormuz Oil Shock

Reliance Jio is expected to post steady performance, with Ebitda projected to rise 3% to Rs 18,269 crore. Average revenue per user or ARPU is estimated to edge up to Rs 216 from Rs 214, supported by customer upgrades, while subscriber additions are seen slowing to 52.2 crore, the weakest quarterly addition in fiscal 2026.

Oil and gas exploration Ebitda is projected to fall sharply by 12.5% to Rs 4,249 crore, the biggest drop in 16 quarters, due to lower volumes and higher costs.

The oil-to-chemicals segment's Ebitda is seen flat at around Rs 16,505 crore despite higher gross refining margins, weighed down by higher freight costs, insurance premiums, elevated gas costs, increased LPG output, and diversion of gas produced at the KG basin to priority sectors. 

Segment-wise, the retail business is expected to see a 10.6% drop in revenue to Rs 87,568 crore, though Ebitda may rise 2% to Rs 7,051 crore due to cost management, with growth constrained by a high base. 

Reliance Industries Q3 Results (Consolidated, QoQ)

• Revenue up 4% at Rs 2.69 lakh crore versus Rs 2.59 lakh crore (Estimate: Rs 257038 crore)
• Ebitda up 0.3% at Rs 46,018 crore versus Rs 45,885 crore (Estimate: Rs 47,997 crore)
• Margin at 17.4% versus 18% (Estimate: 18.7%)
• Net profit up 2.6% at Rs 18,645 crore versus Rs 18,165 crore (Estimate: Rs 19,271 crore)

All but one out of 34 analysts tracking Reliance Industries have a 'Buy' rating on the stock, and one suggests a 'sell', according to Bloomberg data. The average of 12-month price targets is Rs 1,736 and indicates a potential upside of 29%.

RIL's oil-to-chemicals segment's Ebitda is seen flat at around Rs 16,505 crore despite higher gross refining margins, weighed down by higher freight costs, insurance premiums, elevated gas costs, increased LPG output, and diversion of gas produced at the KG basin to priority sectors. 

Oil and gas exploration Ebitda is projected to fall sharply by 12.5% to Rs 4,249 crore, the biggest drop in 16 quarters, due to lower volumes and higher costs.

Reliance Jio is expected to post steady performance, with Ebitda projected to rise 3% to Rs 18,269 crore. Average revenue per user or ARPU is estimated to edge up to Rs 216 from Rs 214, supported by customer upgrades, while subscriber additions are seen slowing to 52.2 crore, the weakest quarterly addition in fiscal 2026.

Reliance Industries' retail business is expected to see a 10.6% drop in revenue to Rs 87,568 crore, though Ebitda may rise 2% to Rs 7,051 crore due to cost management, with growth constrained by a high base. 

>>

According to NDTV Profit estimates, consolidated revenue is seen rising 6.7% quarter-on-quarter to around Rs 2,82,748 crore, while operating income or Ebitda is estimated to increase 2.9% to about Rs 47,343 crore. Margin is expected to soften to 16.7% from 17.4% in the December quarter, and net profit is seen declining roughly 9% to Rs 16,944 crore.