Reliance Industries Q2 Results 2026 Live: Jio Platforms, RIL to announce Q2 results today. Brokerages expect strong numbers for RIL

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Reliance Industries Q2 Results Live Update

RIL & Jio Platforms Q2 Results Live: Jio Platforms is set to announce its first quarterly results since listing, with brokerages expecting revenue growth driven by subscriber additions and higher ARPU. Reliance Industries is also expected to report strong Q2 earnings, supported by improved refining margins.

Jio Platforms Q2 Results Live Updates: Jio Platforms will announce its maiden quarterly results as a listed company, with analysts expecting revenue growth on the back of subscriber additions and an improvement in average revenue per user (ARPU).

Jio Q2 Preview: First results after listing. What should investors expect?

Meanwhile, Reliance Industries is expected to report 15-17% year-on-year EBITDA growth in the September quarter. Stronger refining margins, higher throughput and favourable currency movements are expected to offset weakness in its retail and oil and gas businesses.

RIL Q2 Results Preview: Profit outlook brightens as O2C business set to drive growth

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Jio’s IPO announcement sparked buying interest in Reliance Industries shares, but the stock faced resistance above Rs 1,200, according to Vatsal Bhuva of LKP Securities. He identified Rs 1,130 as a crucial demand zone and Rs 1,230 as the breakout level needed to confirm a potential bottom formation.

Reliance Industries shares delivered a mixed performance on the past five quarterly results days, declining three times and advancing twice. The stock posted its strongest gain of 2.59% on July 17, 2026, while its steepest fall of 1.15% occurred on April 24, 2026.

Emkay Global expects Jio's revenue to increase 10.5% year-on-year and 2.8% sequentially in Q2 FY27. The brokerage also projects a 20-basis-point quarter-on-quarter improvement in both EBITDA and EBIT margins, indicating expectations of steady operational growth.

Nomura expects Jio Platforms to report revenue of Rs 40,400 crore in Q2 FY27, reflecting growth of 11% year-on-year and 3% sequentially. Healthy subscriber additions and improving average revenue per user are expected to support the company's top-line performance.

Nomura expects Jio's average revenue per user to increase to Rs 219 per month from Rs 215.6 in the June quarter. Emkay forecasts a 1% sequential improvement. Higher data consumption, premium service adoption and subscriber additions could support further monetisation.

When billionaire Mukesh Ambani-led conglomerate Reliance Industries Ltd (RIL) announces its Q2 results post-market hours today, analysts expect the legacy oil-to-chemicals business to deliver the sharpest profit recovery, while the consumer businesses that underpin the group’s future remain uneven. Read more

Mukesh Ambani-led Jio Platforms is set to announce its first quarterly results as a listed company on October 30, just two days after its market debut. Investors will closely track the September-quarter performance to assess whether earnings growth can support the company's elevated market valuation.

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• Reliance Industries (RIL) shares have declined around 26% in 2026, significantly underperforming the Nifty 50, which has fallen more than 12%.
• Ahead of the company’s September-quarter results on Friday, October 30, investors will focus on the performance of its refining, telecom and retail businesses.
• Read more

RIL is expected to report a strong improvement in September-quarter earnings, with brokerages projecting consolidated EBITDA growth of 15-17% year-on-year. A recovery in the oil-to-chemicals (O2C) business is likely to be the biggest contributor, supported by stronger refining margins and higher throughput.

Investors will focus on the extent of the O2C recovery, refinery throughput and the sustainability of stronger refining margins. Jio Platforms' earnings and profitability trends at Reliance Retail will also be important, particularly as the conglomerate reports its September quarter performance on October 30.

Reliance Industries' September-quarter results come shortly after Jio Platforms' stock market debut. Investors are expected to assess the performance of the refining business alongside Jio's earnings growth and the margin trajectory of Reliance Retail.

While stronger refining margins are expected to lift Reliance Industries' O2C earnings, weaker petrochemical prices could limit the overall improvement. Elevated freight costs may also partially offset the benefits of higher refinery throughput and stable ethane prices, according to brokerage estimates.

Favourable currency movements and Reliance Industries' US ethane-based petrochemical operations are expected to provide additional support to its O2C business. Kotak Equities also expects the absence of a windfall tax impact on the special economic zone refinery to improve the segment's profitability.

Reliance Industries could benefit from a recovery in refinery operations after a planned maintenance shutdown affected output in the June quarter. Nomura expects refinery throughput to rise 16% sequentially to 20.9 million tonnes, supporting a stronger contribution from the O2C segment.

Improved refining margins are expected to support Reliance Industries' September-quarter earnings. Nuvama noted that gasoil and aviation turbine fuel refining cracks reached record levels during the quarter, helped by supply disruptions and restricted exports from China.

Reliance Industries' O2C business is expected to lead earnings growth in the September quarter. Kotak Equities estimates a 47% year-on-year rise in O2C EBITDA, aided by stronger refinery performance, favourable currency movements and contributions from its US ethane-based petrochemical operations.