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Reliance Industries set to report Q1 results after shares rise ahead
Brokerages expect double digit growth in revenue and operating profit, with O2C rebound and Jio growth offsetting pressure in retail and KG-D6 production.
Reliance Industries is scheduled to report its first quarter financial results for FY27 after market close on Friday, July 17, and traders pushed the stock higher into the announcement. The shares rose as much as 2.4% to a day high of ₹1,323.80 on BSE, after opening at ₹1,301 versus the prior close of ₹1,293, while the stock has recently been under pressure, down 1% over a month, about 3.5% over three months, 9.5% over six months, and nearly 11% over the past year.
Market participants expect another strong quarter but say results across Reliance's business verticals are likely to be uneven. A rebound in the oil to chemicals business and continued growth in digital services are viewed as key supports for earnings, while softer consumer demand in retail and weaker performance from the upstream business are expected to cap upside. Brokerages broadly look for healthy double digit growth in revenue and operating profit, backed by stronger refining margins and improving petrochemical spreads alongside Jio's steady performance.
Equirus Securities expects consolidated net sales to rise 35% year on year to ₹328 crore, EBITDA to increase 14.5% to ₹49,100 crore, and net profit to grow 13% year on year to ₹24,593 crore. The same note projects EBITDA margins to contract 267 basis points year on year to 15%, with margins expected to be flat sequentially.
The outlook comes after Reliance ended FY26 with a strong March quarter, including record revenue and profit helped by telecom and retail growth, with digital services earnings offsetting weakness in parts of the energy business. For the March quarter, the company reported consolidated revenue of ₹11,75,919 crore, EBITDA of ₹2,07,911 crore, and profit after tax of ₹95,610 crore, according to LiveMint Markets.