{"id":19219,"date":"2025-10-19T21:06:59","date_gmt":"2025-10-19T21:06:59","guid":{"rendered":"https:\/\/tezgyan.com\/index.php\/2025\/10\/19\/reliance-q2-results-today-retail-jio-o2c-to-drive-earnings-growth-markets-news\/"},"modified":"2025-10-19T21:06:59","modified_gmt":"2025-10-19T21:06:59","slug":"reliance-q2-results-today-retail-jio-o2c-to-drive-earnings-growth-markets-news","status":"publish","type":"post","link":"https:\/\/tezgyan.com\/index.php\/2025\/10\/19\/reliance-q2-results-today-retail-jio-o2c-to-drive-earnings-growth-markets-news\/","title":{"rendered":"Reliance Q2 Results Today: Retail, Jio, O2C To Drive Earnings Growth | Markets News"},"content":{"rendered":"


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Last Updated:<\/span>

Reliance Industries Ltd (RIL) is expected to report robust earnings growth for the September quarter (Q2 FY26); What should you expect<\/h2>\n
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RIL Q2 Results Today<\/p>\n<\/figure>\n

Reliance Industries (RIL) Q2 Results Today:<\/strong> Reliance Industries Ltd (RIL) is expected to report robust earnings growth for the September quarter (Q2 FY26), supported by firm refining margins and continued expansion in its consumer-facing businesses \u2014 Reliance Retail and Jio. According to the median of nine analysts\u2019 estimates, the company\u2019s net profit is likely to increase 11 percent year-on-year to about Rs 18,450 crore, while consolidated EBITDA is projected to rise 14 percent to Rs 44,400 crore, led by gains across its oil-to-chemicals (O2C), retail, and digital services segments.<\/p>\n

Strong Refining Margins, Weak Rupee to Aid O2C<\/h3>\n

Refining margins remained firm through the quarter, driven by strong diesel and jet fuel spreads, along with a weaker rupee that improved export realisations. Axis Capital and UBS expect RIL\u2019s O2C EBITDA to grow over 20 percent YoY, while J.P. Morgan estimates an even higher 26 percent rise, backed by better cracks and improved product spreads. HSBC also anticipates a strong quarter for the O2C segment, citing favourable refining conditions and steady performance in the broader energy business.<\/p>\n

Retail and Jio Maintain Growth Momentum<\/h3>\n

Both Reliance Retail and Jio are expected to sustain their positive growth trajectory. UBS forecasts retail revenue growth of over 13 percent YoY, led by the grocery and fashion segments, while Axis Capital projects a 13 percent increase in underlying EBITDA with stable margins. J.P. Morgan expects retail performance to remain robust, though slightly tempered by the recent GST rate cuts on select durables announced in September.<\/p>\n

In the digital services segment, UBS and Nomura expect 15\u201316 percent YoY EBITDA growth, supported by continued subscriber additions and modest gains in average revenue per user (ARPU).<\/p>\n

Upstream, New Energy and Long-Term Triggers<\/h3>\n

The upstream oil and gas business is expected to remain broadly stable, contributing modestly to overall earnings. Analysts note that investor focus will likely shift from near-term profit metrics to management commentary on Reliance\u2019s emerging \u201cPowering AI” ecosystem \u2014 which includes investments in data centres, renewable energy capacity, and collaborations with Meta, Google, and NVIDIA.<\/p>\n

Brokerages such as Morgan Stanley and HSBC believe updates on these initiatives could serve as a long-term re-rating trigger, reinforcing Reliance\u2019s positioning in next-generation digital and energy infrastructure, even if they have limited near-term earnings impact.<\/p>\n

Consensus: Steady Quarter, Positive Outlook<\/h3>\n

Across brokerages, consensus points to a steady and broad-based Q2 performance. J.P. Morgan forecasts 14 percent YoY EBITDA growth and 12 percent profit growth, though it cautions that higher depreciation and interest expenses may limit profit flow-through. Most firms \u2014 including UBS, Axis Capital, Kotak, HSBC, and Morgan Stanley \u2014 maintain \u2018Buy\u2019 or \u2018Overweight\u2019 ratings, with target prices ranging between Rs 1,700 and Rs 1,780. Analysts remain confident in RIL\u2019s diversified earnings mix and its gradual transition from an energy-driven to consumer- and technology-led business model.<\/p>\n

Investors will closely watch management guidance on telecom tariffs, retail demand trends, and updates on new energy initiatives, which could shape the company\u2019s performance trajectory for the remainder of FY26.<\/p>\n

Disclaimer: Network18 and TV18 \u2013 the companies that operate news18.com \u2013 are controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.<\/strong><\/p>\n

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\"Aparna<\/figure>\n

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Aparna Deb<\/a><\/p>\n

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More<\/span><\/p>\n<\/div>\n<\/div>\n

Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More<\/span><\/p>\n<\/div>\n<\/div>\n

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First Published:<\/span><\/p>\n
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October 17, 2025, 08:09 IST<\/p>\n<\/div>\n<\/div>\n

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Last Updated:October 17, 2025, 08:09 IST Reliance Industries Ltd (RIL) is expected to report robust earnings growth for the September quarter (Q2 FY26); What should you expect RIL Q2 Results Today Reliance Industries (RIL) Q2 Results Today: Reliance Industries Ltd (RIL) is expected to report robust earnings growth for the September quarter (Q2 FY26), supported…<\/p>\n","protected":false},"author":1,"featured_media":19220,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[45],"tags":[],"class_list":["post-19219","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/19219","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/comments?post=19219"}],"version-history":[{"count":0,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/posts\/19219\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media\/19220"}],"wp:attachment":[{"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/media?parent=19219"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/categories?post=19219"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tezgyan.com\/index.php\/wp-json\/wp\/v2\/tags?post=19219"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}