Reliance Industries Q4 Results Live: RIL to announce March quarter earnings today; O2C, telecom growth in focus

ICICI Securities said O2C earnings are likely to be hit by “higher crude cost, rise in shipment/insurance cost [and] losses in the retail fuel segment,” alongside weaker petchem spreads.

Reliance Jio is expected to remain a key growth driver, with steady subscriber additions and a marginal improvement in average revenue per user (ARPU), supporting earnings growth in the digital services segment. Emkay expects subscriber additions of around 8 million with ARPU inching up sequentially.

Reliance’s oil-to-chemicals (O2C) business is expected to reflect a mixed performance during the quarter. Refining margins improved sharply amid elevated product cracks; but the benefit is likely to be partly offset by higher crude costs, increased freight and insurance expenses, and disruptions in physical markets due to the West Asia conflict.

Reliance Industries Ltd is expected to post steady fiscal fourth-quarter earnings despite the war in West Asia, a key source of global crude supply, with analysts estimating revenue at Rs 2.81 lakh crore and net profit at Rs 16,943.5 crore.

RIL board may consider recommending a dividend for the shareholders for the financial year ended March 2026.