Reliance Industries Q3 Results FY26 Live Updates: Reliance Industries reported a 1.66% YoY profit growth in Q3 FY26. The company’s consolidated Profit After Tax (PAT) in Q3 FY26 stood at Rs 22,167 crore, compared to a consolidated PAT of Rs 21,804 crore.
Reliance Industries’ revenue from operations grew by 10.51% YoY in the quarter. The conglomerate’s consolidated revenue from operations in Q3 FY26 stood at Rs 2,69,496 crore, compared to a consolidated revenue of Rs 2,43,865 crore in the corresponding quarter of FY25.
Reliance Industries reported an EBITDA of Rs 50,932 crore in Q3 FY26. The company’s EBITDA grew by 6.1% on a yearly basis, as it was Rs 48,003 crore in Q3 FY25.
Reliance Industries’ EBITDA margin in the quarter declined by 70 basis points YoY. The company’s EBITDA margin in Q3 FY26 came down to 17.%, compared to 18% in Q3 FY25.
Reliance O2C business revenue grows 8.4%
Reliance Industries’ Oil to Chemicals (O2C) business segment’s revenue increased by 8.4% YoY in the quarter. The O2C segment’s revenue in Q3 FY26 stood at Rs 1,62,095 crore. The segment’s revenue in the previous quarter was at Rs 1,49,595.
O2C segments reported an EBITDA of Rs 16,507 crore in the quarter, growing 14.6% YoY. The segment’s EBITDA in the corresponding quarter of FY25 was at Rs 14,402 crore.
The O2C segment’s EBITDA margin in the quarter was at 10.2%, increasing by 60 bps.
Jio growth continues
Reliance Industries Chairman Mukesh Ambani said that Jio’s digital ecosystem is deepening its roots in Indian households.
”This quarter, Jio expanded its subscriber base further, through attractive propositions enabled by its comprehensive, indigenous technology stack tailored for Indian markets. The business delivered a robust financial performance with 16.4% growth in EBITDA” Mukesh Ambani said.
Reliance Q3 FY26 Results, Earnings Live Updates: Jio Platforms post Rs 7,629 crore profit, revenue grows 12.7%
Jio Platforms, which operates Jio Telecom and Jio Airfiber, posted an 11.2% YoY profit growth in the quarter. The segment’s profit in Q3 FY26 stood at Rs 7,629 crore, compared to Rs 6,861 Q3 FY25.
Jio Platforms' revenue grew by 12.7% YoY to Rs 37,262 crore in Q3 FY25. The segment’s EBITDA stood at Rs 19,303 crore, growing 16.4% YoY.
Jio Platforms’ EBITDA margin stood at 51.8% in Q3 FY26, posting 170 basis points YoY growth.
Reliance Q3 FY26 Results, Earnings Live Updates: Mukesh Ambani on Q3 performance
Speaking on the Q3 performance, Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, "Robust growth in O2C business was led by significantly higher fuel margins with favorable demand-supply dynamics, along with operational flexibility. I am happy to highlight the strong growth in our fuel retailing business, with continuing expansion of the Jio-bp network. Upstream segment EBITDA was impacted by lower volumes and prices."
Reliance Q3 FY26 Results, Earnings Live Updates: Jio user-base grows to 51.5 crore, revenue per user at Rs 213.7/month
Reliance Jio’s total user base at the end of the December quarter stood at 515.3 million or 51.53 crore. In the last three months, the telecom added about 90 lakh customers. On a yearly basis, Jio’s customer base increased by 6.9%.
Reliance Jio’s Average Revenue per User (ARPU) per month stood at Rs 213.7, declining by 5.1% YoY. The company said that Jio’s ARPU was partly offset by promotional offers for unlimited 5G and Fixed Broadband services.
Reliance Q3 FY26 Results, Earnings Live Updates: Mukesh Ambani on Q3 performance for retail business
Speaking on the Q3 performance, Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, "The demerger of consumer products business came into effect this quarter. With a broad and diverse product basket ranging from classic Indian brands to new age labels, the consumer products vertical is progressing on its accelerated growth trajectory with a focused organisational structure. Our deep, omni-channel presence across the nation and strong traction in hyperlocal quick deliveries supported a resilient performance by the Retail business."
Speaking on the Q3 performance, Mukesh Ambani, Chairman and Managing Director, Reliance Industries, said, “Reliance’s consolidated performance in Q3 FY26 reflects consistent financial
delivery and operational resilience across businesses. Jio expanded its subscriber base further, through attractive propositions enabled by its comprehensive, indigenous technology stack tailored for Indian markets. The business delivered a robust financial performance with 16.4% growth in EBITDA."
Reliance Q3 FY26 Results, Earnings Live Updates: Reliance Retail posts Rs 3,551 crore profit, EBITDA margin declines 60 bps
Reliance Retail posted 2.7% YoY profit growth in the quarter. The segment’s consolidated profit in the quarter ended December FY26 stood at Rs 3,551 crore, compared with Rs 3,458 crore in Q3.
Reliance Retail’s revenue from operations grew by 8.1% YoY to Rs 86,951 crore in Q3 FY26. The segment’s EBITDA in the quarter stood at Rs 6,915 with an EBITDA margin of 8%. The EBITDA margin declined by 60 bps YoY in Q3.
Reliance Q3 FY26 Results, Earnings Live Updates: Mukesh Ambani says Jio deepening roots in Indian households, posts 16.4% EBITDA growth
Reliance Industries Chairman Mukesh Ambani said that Jio’s digital ecosystem is deepening its roots in Indian households.
”This quarter, Jio expanded its subscriber base further, through attractive propositions enabled by its comprehensive, indigenous technology stack tailored for Indian markets. The business delivered a robust financial performance with 16.4% growth in EBITDA” Mukesh Ambani said.
Reliance Q3 FY26 Results, Earnings Live Updates: RIL O2C segment sees 8% YoY growth, EBITDA up 10% YoY
Reliance Industries’ Oil to Chemicals (O2C) business segment’s revenue increased by 8.4% YoY in the quarter. The O2C segment’s revenue in Q3 FY26 stood at Rs 1,62,095 crore. The segment’s revenue in the previous quarter was at Rs 1,49,595.
O2C segments reported an EBITDA of Rs 16,507 crore in the quarter, growing 14.6% YoY. The segment’s EBITDA in the corresponding quarter of FY25 was at Rs 14,402 crore.
The O2C segment’s EBITDA margin in the quarter was at 10.2%, increasing by 60 bps.
Reliance Industries reported an EBITDA of Rs 50,932 crore for Q3 FY26. The company's EBITDA grew by 6.1% on a yearly basis, as it was Rs 48,003 crore in Q3 FY25.
Reliance Industries' EBITDA margin for the quarter declined by 70 basis points on a YoY basis. The company’s EBITDA margin for Q3 FY26 came down to 17%, compared to 18% reported in Q3 FY25
Reliance Industries reported a 1.66% YoY profit growth in Q3 FY26. The company's consolidated Profit After Tax (PAT) for the reporting quarter stood at Rs 22,167 crore, compared to a consolidated PAT of Rs 21,804 crore reported in Q3FY25.
Reliance Industries' revenue from operations grew by 10.51% YoY in the quarter. The conglomerate’s consolidated revenue from operations in Q3 FY26 stood at Rs 2,69,496 crore, compared to a consolidated revenue of Rs 2,43,865 crore in the corresponding quarter of FY25.
Reliance Q3 FY26 Results, Earnings Live Updates: Axis Capital expects Reliance Retail growth slowdown, Jio and O2C seen in better position
Axis Capital expects Reliance Retail’s growth to decelerate on a higher base, festive shift, GST rationalisation and demerger of Reliance Consumer Products Limited (RCPL).
“Jio should see a steady quarter from healthy subscriber addition, ARPU uptick and growing FWA traction. O2C EBITDA should rise on better refining margin, partially offset by weaker petchem,” Axis Capital said.
Reliance Q3 FY26 Results, Earnings Live Updates: Morgan Stanley sees 5-7% earning growth for RIL
Morgan Stanley said that Reliance Industries Q3 should see improved O2C earnings, supported by strong refining margins of above $12/bbl – something it believes can sustain above mid-cycle levels after the last two years of relative under-performance versus peers.
“Globally, under investment in new refining capacity combined with disruptions in existing infrastructure have formed underlying tailwinds to O2C margins. We see 5-7% upside risk to RIL’s FY27-FY28 earnings as new fuel refining capacity adds lag the 0.7-0.9mbpd annual global consumption growth by more than half,”, the banker said.
Reliance Q3 FY26 Results, Earnings Live Updates: Goldman Sachs expects Reliance Ind's O2C EBITTDA to grow 16% on strong magin
Goldman Sachs expects Q3 FY26 EBITDA for Reliance Industries’ O2C (oil to chemical business) to grow 16% YOY and 11% QoQ. The banker believes stronger refining earnings more than offset decline in petchem earnings.
Goldman Sachs expects Reliance Industries refining margins to remain strong and to sustain in Q4 as the refining market remains “structurally tight “due to limited net capacity additions, while lower Saudi OSPs offset potential further reduction in Russian crude exposure.
Mukesh-Ambani led Reliance Jio may launch its public offering by the first half of this year, a report published by Reuters said.
Via the IPO the company is likely to offload 2.5% of its stake which could raise nearly $4.4 billion, the report added. No clarity has been given on whether the conglomerate would opt for on OFS route or issue fresh shares. Further, the report added that bankers from Morgan Stanley and Kotak are drafting the IPO papers.
Reliance Q3 FY26 Results, Earnings Live Updates: Reliance Industries stock closed at Rs 1,461 on Friday
Reliance Industries' stock closed at Rs 1,461 on Friday, a 0.15 per cent higher in the intra-day trade. In the last 5 trading sessions, the company’s share price has increased by 0.17 per cent.
In the past one month and six months, Reliance Industries’ stock has declined by 5.27 per cent and 1.66 per cent, respectively. However, in the last year, the company's stock has climbed by 15.36 per cent.
Reliance Q3 FY26 Results, Earnings Live Updates: JM Financial expect 8.5% EBITDA growth for O2C business
JM Financial says that Reliance Industries’ O2C EBITDA is likely to increase by 8.5 per cent on a quarterly basis, reaching Rs 16,300 crore. JM Financial says that the growth is led by higher GRM at $11/bbl and strong auto-fuel marketing margin, though partly offset by lower refining throughput.
JM Financial says that Reliance Industries’ petchem margin is expected to remain weak QoQ, and E&P EBITDA is likely to decline 3% QoQ to Rs 48.5 billion on a natural decline in KG-D6 gas output.
Reliance Q3 FY26 Results, Earnings Live Updates: Jio to post robust growth in Q3, EBITDA to rise to RS 17,600 crore
Nomura says that Reliance Jio will post a robust QoQ growth in Q3 FY26. As per Nomura’s estimates, Reliance Jio is expected to report an EBITDA of Rs 17,600 crore in Q3 FY26.
Nomura expects Jio to see 8 million user additions in the quarter, reaching a total user base of 515 million by the end of the December quarter.
Further, Nomura estimates a modestly higher Average Revenue Per User (ARPU) of Rs 214/month for Reliance Jio in Q3 FY26, compared to an ARPU of Rs 211/month in Q2 FY26.
Reliance Q3 FY26 Results, Earnings Live Updates: Reliance Retail revenue to grow 9% in Q3, EBITDA to remain under pressure
JM Financial expects Reliance Retail’s gross revenue to grow 9% YoY in Q3 FY26.
The firm estimates that Reliance Retail's Q3 FY26 revenue was impacted by ~2% from the RCPL demerger and ~2% from the full-quarter impact of reduced retail selling prices of its products post the GST rate cut.
Further, the firm says that Reliance Retail's revenue was also impacted by the festive season being split between the third and second quarters of the fiscal year, and the consumption boost from the GST cut was restricted to the electronics segment only.
“Further, Retail segment EBITDA is also likely to be soft at only 3.8% YoY to INR 71bn as ramp up in low margin quick commerce is likely to impact EBITDA margin; while there is only limited impact on EBITDA due to RCPL demerger given its limited contribution to Retail EBITDA” JM Financial adds
Reliance Q3 FY26 Results, Earnings Live Updates: Nomura estimates Reliance to post an EBITDA of Rs 47,600 crore
Nomura estimates Reliance Industries’ Q3 FY26F consolidated EBITDA to be at Rs 47,600, increasing by about 4% on a quarterly basis. The firm said that RIL’s strong performance in the refining division could be offset by soft petchem and muted retail show.
Numura says that Reliance Industries’ telecom arm, Jio, might report steady numbers in this quarter.
Numura estimates Reliance’s Oil to Chemical business to post an EBITDA of Rs 16,500 crore in Q3 FY26F, growing by 10% QoQ, led by likely widened refining margins on account of the QoQ rise in spreads for gasoline, diesel and jet fuel, but partly offset by soft petchem margins QoQ
Reliance Q3 FY26 Results, Earnings Live Updates: RIL EBITDA seen rising 2.8% QoQ
JM financial expects Reliance Industries’ EBITDA to rise 2.8% quarter-on-quarter(QoQ) in Q3FY26 to Rs 47,200 crore, supported by strong performance in the oil-to-chemicals (O2C) business and steady growth in the digital segment. However, growth in the retail business is likely to remain muted, while E&P earnings may decline during the quarter.
Reliance Q3 FY26 Results, Earnings Live Updates: Q2FY26 highlights (Part-3)
Reliance Retail Ventures Limited (RRVL)
Revenue: Rs 90,018 crore, up 18.0% YoY
EBITDA: Rs 6,816 crore, up 16.5% YoY
New Stores: 412 added; total 19,821 stores, 77.8 mn sq. ft. area
Reliance Q3 FY26 Results, Earnings Live Updates: Q2FY26 highlights (Part-2)
Jio Platforms Limited (JPL)
Revenue: Rs 42,652 crore, up 14.9% YoY
EBITDA: Rs 18,757 crore, up 17.7% YoY, margin 51.6%
Subscribers: 506 million
ARPU: Rs 211.4, up 8.4% YoY
Data traffic: 58.4 billion GB, up 29.8% YoY
Reliance Q3 FY26 Results, Earnings Live Updates:Q2FY26 highlights (Part-1)
Overall Performance
Reliance Q3 FY26 Results, Earnings Live Updates: Reliance Industries to release Q2FY26 results today
In a regulatory filing, Reliance Industries said, “A meeting of the Board of Directors of the Company is scheduled to be held on Friday, January 16, 2026, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter and nine months ended December 31, 2025.”
Reliance Q3 FY26 Results, Earnings Live Updates: Welcome to this live blog
Greetings! Mukesh Ambani-led Reliance Industries is set to announce its third-quarter results for FY26 today, for the period ended December 30, 2025. Stay tuned here for live updates on the company’s financial performance and management commentary!