Reliance Q3 Results 2026 Highlights: Revenue rises 10% YoY; Jio profit up 11%, O2C EBITDA improves 14%

Reliance Q3 Results 2026 LIVE: JioStar business revenue from operations rose 11.6% to ₹6,896 crore from ₹6,179 crore, QoQ. EBITDA fell 25% to ₹1,303 crore from ₹1,738 crore, while EBITDA margin declined to 18.9% from 28.1%, QoQ.

Television network reached over 830 million viewers, delivering over 60 billion hours of watch time. JioHotstar averaged 450 million Monthly Active Users (MAUs); up 13% QoQ. The network’s TV entertainment viewership share improved by 100 bps YoY to 34.6% share.

Reliance Q3 Results 2026 LIVE: Reliance Oil & Gas business reported revenue of ₹5,833 crore, a drop of 8.4% from ₹6,370 crore, YoY, on account of lower volumes and price realisation for KGD6 gas and condensate. The average price realized for KGD6 gas was $9.65 per MMBTU in 3QFY26 vis-à-vis $9.74 per MMBTU in 3QFY25. The average price realised for CBM gas was $ 9.29 per MMBTU as against $10.58 per MMBTU YoY.

Segment EBITDA declined by 12.7% on YoY basis to ₹4,857 crore following lower revenues and higher operating cost due to maintenance activities. EBITDA margin dropped by 410 bps to 83.3% from 87.4% YoY.

Reliance Q3 Results 2026 LIVE: Reliance Retail business expanded its store network with 431 new store openings, taking the total store count to 19,979 with area under operation at 78.1 million sq. ft. The registered customer base grew to 378 million, making Reliance Retail one of the most preferred retailers in the country.

Reliance Q3 Results 2026 LIVE: Reliance is entering a new phase of value creation with its initiatives in the AI and New Energy domains. I am confident that Reliance will play a pioneering role in the evolution of these epoch-defining technologies, providing sustainable solutions at scale for India and the world, said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.

Reliance Q3 Results 2026 LIVE: Total 5G subscriber base reached 253 million as of December 2025. 5G now accounts for ~53% of total wireless traffic driven by consistent increase in customer engagement. During the quarter, total connected premises with fixed broadband increased to 25.3 million. JioAirFiber continued to accelerate the pace of subscriber additions with a base of over 11.5 million as of December 2025

Reliance Q3 Results 2026 LIVE: Reliance Jio operating revenue (net of GST) growth was driven by robust subscriber addition, ARPU growth and scale-up of digital services. Robust 16.4% EBITDA growth was driven by higher revenue and margin improvement. Margin increase of 170 bps YoY was led by higher ARPU and operating leverage. ARPU increased to ₹213.7 from ₹211.4 QoQ, and from ₹203.3 YoY.

Reliance Q3 Results 2026 LIVE: Reliance Oil-To-Chemicals (O2C) segment revenue for Q3FY26 rose by 8.4% YoY to ₹1,62,095 crore ($18.0 billion). Production meant for sale increased by 1.7% on a YoY basis. O2C segment’s EBITDA improved 14.6% YoY to ₹16,507 crore ($1.8 billion), with 60 bps margin expansion to 10.2%.

Fuel retailing operations through Jio-bp expanded its network by 14% YoY to 2,125 outlets, driving volume growth of 24.7% for HSD and 20.8% for MS.

Reliance Q3 Results 2026 LIVE: Reliance Retail net profit in Q3 rises 2.7% to ₹3,551 crore from ₹3,458 crore. Revenue from operations increased 9.2% to ₹86,951 crore from ₹79,595 crore, YoY. EBITDA from operations grew 2.1% to ₹6,770 crore from ₹6,632 crore, YoY, while EBITDA margin dropped by 60 bps to 8% from 8.6% YoY.

Reliance Q3 Results 2026 LIVE: Reliance Jio revenue from operations in Q3 increases 12.7% to ₹37,262 crore from ₹33,074 crore, YoY.

Reliance Q3 Results 2026 LIVE: Reliance Jio net profit rises 11.2% to ₹7,629 crore from ₹6,861 crore, YoY.

Reliance Q3 Results 2026 LIVE: Consolidated EBITDA rises 6.1% to ₹50,932 crore from ₹48,003 crore, YoY.

Reliance Q3 Results 2026 LIVE: Reliance's consolidrevenue from operations up 10.5% to ₹2,69,496 crore from ₹2,43,965 crore, YoY.

Reliance Q3 Results 2026 LIVE: Reliance Industries' Q3FY26 consolidated net profit rose 1.6% to ₹22,290 crore from ₹21,930 crore, YoY.

JM Financial expects Reliance Industries 3QFY26 EBITDA to rise 2.8% quarter-on-quarter, led by strong performance in the O2C and digital segments. O2C EBITDA is likely to gain 8.5% QoQ, driven by higher diesel cracks, while digital EBITDA could see a 2.6% QoQ increase, supported by robust subscriber additions.

Despite overall EBITDA growth, Retail segment performance is expected to remain subdued, with EBITDA up just 3.8% YoY, reflecting softer momentum in consumer-facing businesses relative to the industrial and digital segments.

Nuvama Institutional Equities expects Reliance Industries consolidated EBITDA to rise 9% year-on-year, supported by a strong performance in the O2C (Oil-to-Chemicals) and digital segments, partly offset by muted growth in Retail and weakness in Oil & Gas.

The brokerage projects O2C EBITDA to jump 13% YoY, driven by a 21% YoY increase in Singapore GRM, led by higher petrol and diesel spreads, up 2x and 1.5x YoY, respectively.

Jio’s EBITDA is expected to grow 16% YoY and 2% QoQ on the back of higher ARPU, rising 5% YoY and 1% QoQ, and subscriber additions, up 7% YoY and 1% QoQ.

Retail EBITDA is likely to increase 3% YoY, aided by the preponed festive season, while O&G EBITDA may decline 13% YoY due to an 8% fall in production.

Domestic brokerage firm Motilal expects the company’s consolidated EBITDA to rise 9% year-on-year to ₹479 billion, while production meant for sale is likely to remain stable at 17.7 million metric tons.

Standalone EBITDA is anticipated at ₹161 billion, up 6% year-on-year. Motilal Oswal highlighted that further clarity on announcements in the new energy business, growth in retail store additions, and any pricing action in the telecom segment are key monitorables for the stock.

Reliance Q3 Results 2026 LIVE: According to Abhinav Tiwari, Research Analyst at Bonanza, Reliance Jio is expected to deliver steady and predictable performance. Subscriber additions should remain healthy, supporting revenue growth, while ARPU expansion is likely to be gradual due to the absence of major tariff hikes and ongoing competitive intensity.

Reliance Q3 Results 2026 LIVE: According to Abhinav Tiwari, Research Analyst at Bonanza, in Q3 FY26, the O2C segment is expected to be the key driver of Reliance’s performance. Strong refining margins, stable operating efficiency, and benefits from a weaker rupee are likely to offset continued weakness in petrochemical spreads, resulting in healthy profitability growth for the segment.

Reliance Q3 Results 2026 LIVE: Reliance Industries share price ended flat on Friday ahead of the announcement of Q3 results. On BSE, RIL stock price closed 0.06% lower at ₹1,457.60 apiece, while on NSE, Reliance shares ended 0.15% higher at ₹1,461.00 apiece.

Reliance Q3 Results 2026 LIVE: Reliance Retail is expected to report 9.6% revenue growth at ₹99,007 from ₹90,330 crore, YoY. EBITDA is estimated to rise 6% to ₹7,029 crore from ₹6,632 crore, while EBITDA margin is expected to fall by 24 bps to 7.1% from 7.3%, YoY.

Reliance Q3 Results 2026 LIVE: Reliance share price has fallen over 5% in one month and has gained over 4% in three months. RIL stock price has rallied 15% in one year and has jumped 65% in the past five years.

Reliance Q3 Results 2026 LIVE: For investors, the focus is unlikely to be on a narrow beat or miss versus estimates, but on forward cues — telecom pricing discipline, the pace of recovery in retail margins, and any updates on the new-energy roadmap. If O2C cash flows remain firm and Jio sustains earnings momentum, the quarter should reinforce Reliance’s earnings resilience. However, any disappointment in retail execution or upstream realisations could keep near-term stock reactions volatile despite stable consolidated numbers, Jickson Sajee, Research Analyst, INVasset PMS said.

Street expectations for Reliance Industries Q3 results point to a steady, O2C- and Jio-led performance rather than a sharp surprise. Consensus estimates broadly peg consolidated EBITDA in the ₹46,700 – ₹48,000 crore range, implying high single-digit YoY growth, with revenue expected around ₹2.56 lakh – ₹2.66 lakh crore. The key swing factor remains Oil-to-Chemicals: refining margins stayed relatively supportive during the quarter, providing a cushion, while the petrochemicals segment is expected to remain softer. In retail, growth is likely to normalise sequentially after festive-season strength, making management commentary on margins, store productivity and quick-commerce strategy especially important, said Jickson Sajee, Research Analyst, INVasset PMS.

In the digital business, Jio is expected to deliver stable operating metrics with incremental improvement in ARPU, estimated around ₹213 – ₹214, alongside continued subscriber additions and mid-teens EBITDA growth, he added.

Reliance Q3 Results 2026 LIVE: Kotak Equities expects Reliance Retail’s revenue growth to moderate to ~9.6% YoY from 18% in Q2 on festive season split over this year, and demerger of Reliance Consumer Products Ltd. It assumes moderation in EBITDA margins on rising QC.

Reliance Q3 Results 2026 LIVE: Reliance Jio is expected to report revenue growth of 2.9% to ₹32,771 crore from ₹31,857 crore, YoY, while its net profit is seen up 3.4% to ₹7,211 crore from ₹6,972 crore, YoY. Kotak Equities assumes blended ARPUs to rise to ₹214 from ₹211 QoQ on rising broad-band subscribers and assumes 1.5% increase in quarter-end subscribers. Jio’s EBITDA is expected to grow 3% to ₹17,790 crore from ₹17,275 crore, while EBITDA margin is estimated to improve to 54.3% from 54.2%, QoQ.

Reliance Q3 Results 2026 LIVE: Kotak Institutional Equities expects EBITDA for Reliance Digital services to marginally increase 2.7% QoQ (up 16.5% YoY) driven by marginally higher ARPU and subscriptions. Retail EBITDA is expected to be up 4.5% YoY, and up 4.8% QoQ. O2C EBITDA is seen increasing by 15% YoY and up 10% QoQ on likely better refining margins and weaker rupee. E&P EBITDA is expected to decline 15% YoY, and down 5% QoQ on lower volumes/realization.

Reliance Q3 Results 2026 LIVE: Reliance Q3FY26 consolidated net profit is expected to rise 2.4% to ₹22,677 crore from ₹22,146 crore, QoQ, according to estimates by Kotak Institutional Equities. It expects consolidated revenue to grow 4.3% to ₹2,65,523 crore from ₹2,54,623 crore, QoQ. EBITDA during the December quarter is estimated to grow 4.3% to ₹47,867 crore from ₹45,885 crore, QoQ.

Reliance Q3 Results 2026 LIVE: Reliance share price has rebounded in the last two sessions from the key support of 200-Simple Moving Average (SMA) and we are seeing a formation of bullish reversal on weekly chart. RIL share price can extend bounce towards ₹1,510 - 1,520 with strong support base around ₹1,420 levels, said Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One.

Reliance Q3 Results 2026 LIVE: Elara Securities expects RIL Q3 revenue to rise 0.5% to ₹2,55,949 crore from ₹2,54,623 crore, QoQ, while its net profit to increase 16.2% to ₹21,101 crore from ₹18,165 crore, QoQ. EBITDA is seen up 7.5% to ₹49,341 crore from ₹45,885 crore, QoQ.

Reliance Q3 Results 2026 LIVE: Brokerage firm Motilal Oswal Financial Services expects Reliance Industries’ consolidated EBITDA to rise 9% YoY to ₹47,900 crore and standalone EBITDA to grow 6% YoY to ₹16,100 crore. production meant for sale is estimated to remain flat at 17.7 mmt.

Reliance Q3 Results 2026 LIVE: Reliance share price gains ahead of Q3 results today

Reliance Q3 Results 2026 LIVE: Reliance share price opened higher on Friday ahead of the announcement of Q3 results today. RIL shares opened little higher at ₹1,459.90 apiece as against previous close of ₹1,458.45 per share on the BSE. The stock hit an intraday high of ₹1,473.00 apiece, rising as much as 0.99%.

Reliance Q3 Results 2026 LIVE: Analysts estimate Reliance O2C EBITDA to rise 10% QoQ and 15% YoY on better refining and weaker Indian rupee, partly offset by weak petchem. Reliance Jio’s EBITDA is seen rising 15% YoY and 3% QoQ, with blended ARPU of ₹214, up 1.3% QoQ. For Reliance Retail, revenue growth is expected to moderate to 9.6% YoY on festive season split and Reliance Consumer Products’ demerger. Retail segment’s EBITDA is estimated to rise 6% YoY.

Reliance Q3 Results 2026 LIVE: Reliance is estimated to report consolidated revenue growth in the range of 7-10%, while its net profit is expected to rise around 5%, year-on-year (YoY). At the operational level, EBITDA is estimated to grow 10% YoY.

Reliance Q3 Results 2026 LIVE: Analysts expect RIL to report a steady performance during the December quarter, driven by healthy growth in the oil-to-chemical (O2C) and telecom businesses. While retail segment is also expected to see decent growth, weakness in RIL’s oil and gas business is expected to persist.

Reliance Q3 Results 2026 LIVE: Reliance Industries Ltd, the billionaire Mukesh Ambani-led energy-to-telecom conglomerate, will announce its Q3 results today. The board of directors of Reliance Industries will meet today, 16 January 2026, to consider and approve the financial results for the third quarter of FY26.