Mumbai, Jan 18, 2026, 02:30 IST — Market closed.
Reliance Industries Ltd’s quarterly profit came in below forecasts, drawing attention to its shares ahead of Monday’s reopening in Mumbai. Profit attributable to owners climbed just 0.6% year-on-year to 186.45 billion rupees, missing analysts’ estimate of 196.44 billion rupees. (Morningstar)
The numbers came out after Friday’s close, forcing investors to sit tight until the market opens Monday, Jan. 19. Reliance, a major player in Indian indexes, means any opening gap could send waves through the broader market. (The Economic Times)
Earnings season is heating up in India, with Reliance dominating the spotlight — a rare mix of energy, telecom, and retail all under one ticker. The Nifty 50 closed Friday up a modest 0.11% at 25,694.35. (NSE India)
Reliance shares ended Friday on the NSE at 1,457.90 rupees, slipping 0.06%. This was ahead of the earnings release, setting Monday’s open as the first clear indicator of investor reaction to the miss. (Yahoo Finance)
Reliance reported a 6.1% jump in consolidated EBITDA, reaching 50,932 crore rupees. The number of Jio 5G subscribers surpassed 250 million, and the fixed broadband customer base exceeded 25 million. However, the oil and gas segment’s EBITDA dropped 12.7%, the company added. Chairman Mukesh Ambani described the quarter as “consistent financial delivery” across its businesses.
At Jio, average revenue per user (ARPU) rose slightly to 213.7 rupees from 211.4 rupees in the September quarter. The company reported a quarterly profit of 7,629 crore rupees alongside revenue of 37,262 crore, according to Economic Times. (The Economic Times)
Retail core margins fell to 8% from 8.6% a year ago, hit by festive discounting, hyperlocal delivery costs, and a one-time labor code expense, Reuters reported. The ageing KG-D6 gas fields weighed on the upstream unit as output and price realizations dropped. Refinery COO Srinivas T warned that sanctions can come unexpectedly: “we had to cut back.” (Reuters)
Western sanctions have already forced Indian refiners to shift their crude sourcing, boosting OPEC’s share of imports while Russian flows dropped in December, Reuters reported. Reliance, India’s biggest Russian oil buyer, halted crude deliveries under its Rosneft deal during the last 10 days of December, the report added. Kpler analyst Sumit Ritola described the pause as “a short-term disruption” tied to compliance concerns. (Reuters)
The retail margin line could remain volatile as India’s new labour codes inch closer to final rules. Reliance described the incremental impact as “not material” for the quarter. The company plans to revisit employee benefit costs after the Centre and states issue the notifications. (Business Standard)
Investors are set to dig into the company’s results presentation and Q&A transcript, hunting for insights on crude sourcing, petrochemical spreads, and how quickly new energy investments are ramping up. Reliance has made both a webcast and transcript of the quarterly management presentation available. (Reliance Industries Limited)
Next up, the market’s next price cue arrives with the open on Monday, Jan. 19, following two days off. After that, Republic Day on Jan. 26 brings another pause, trimming the window for any catch-up moves. (Niftyindices)
