As Reliance Industries Limited (RIL) prepares to announce its third-quarter results for FY25, market analysts are bullish on the company’s retail and telecom segments, expecting strong sequential growth in both revenue and profitability.
Q3 Expectations at a Glance
- Revenue: Rs. 2.45 lakh crore (up 12% YoY)
- EBITDA: Rs. 42,500 crore (up 8% YoY)
- Net Profit: Rs. 18,200 crore (up 10% YoY)
- Retail EBITDA Margin: 7.8% (stable)
- Jio ARPU: Rs. 203 (up from Rs. 195)
Retail Business Outlook
Reliance Retail is expected to report strong festive season sales, with the segment likely to clock over Rs. 80,000 crore in quarterly revenue. The expansion of JioMart and integration with offline stores continues to drive growth.
Jio Platforms Performance
Jio is expected to add 8-10 million subscribers during the quarter, with ARPU expansion of Rs. 8-10 driven by the tariff hike implemented in October. 5G subscriber base is projected to cross 150 million.
Oil-to-Chemicals Segment
The refining segment may see margin pressure due to weak global refining environment. However, petrochemicals could see improvement as feedstock costs decline.
Stock Outlook
Analysts maintain bullish stance on RIL with target prices ranging from Rs. 2,900 to Rs. 3,200. The stock has gained 18% year-to-date, outperforming Nifty 50.
Key Dates
The board meeting for Q3 results is scheduled for January 16, 2026. Investors will closely watch management commentary on new energy investments and retail expansion plans.
