Reliance Q3 Results 2026: Profit Growth and Jio IPO Timeline Revealed

17, January 2026. By -Kaushik

Reliance Industries Limited (RIL), led by Mukesh Ambani, remains the primary barometer for the Indian economy. On Friday, January 16, 2026, the conglomerate released its Q3 FY26 earnings, showcasing a resilient performance despite global headwinds. For investors, the “million-dollar question” isn’t just about the balance sheet—it’s about when Reliance Jio Platforms will finally hit the stock market.
​In this deep dive, we break down the key highlights of the Q3 results and the latest updates on the highly anticipated Jio IPO.

Key Highlights: Reliance Industries Q3 FY 2025-26 Results
​Reliance reported a steady quarter, with its “Oil-to-Chemicals” (O2C) and Digital Services (Jio) businesses acting as the primary growth engines.
​Consolidated Net Profit: ₹18,645 crore (up 1.6% YoY).
​Revenue from Operations: ₹2.69 lakh crore (up 10.5% YoY).
​EBITDA: ₹50,932 crore (up 6.1% YoY).
​Capital Expenditure (Capex): ₹33,826 crore, largely driven by 5G expansion and New Energy projects.
​1. Jio Platforms: The 5G Monetization Story
​Jio continues to dominate the telecom sector. In Q3, Jio’s net profit grew by 11.2% YoY to ₹7,629 crore. The most significant milestone was the 5G user base, which has now crossed 253 million, accounting for over 50% of Jio’s total data traffic.
​ARPU (Average Revenue Per User): Rose to ₹213.7, supported by recent tariff hikes and increased data consumption.
​2. O2C Business: Refining Margins Rebound
​The Oil-to-Chemicals segment saw a revenue jump of 8.4% YoY. This was bolstered by higher transportation fuel margins and “agile crude sourcing” which allowed Reliance to maintain high throughput despite geopolitical challenges.
​3. Reliance Retail: A Steady Pace
​While retail faced a slight “speed bump” in discretionary spending, it still reported a profit of over ₹86,000 crore (gross value), with steady expansion in the Jio-bp fueling network.

Reliance Jio IPO: Expected Timeline for 2026
​The market is buzzing with reports that Reliance Jio is preparing for India’s largest-ever IPO. Based on recent announcements at the Reliance AGM and insights from top brokerages, here is what you need to know:
​Expected Launch Date: The IPO is targeted for the first half (H1) of 2026, with June 2026 being a likely window for the listing.
​Valuation: Investment banks like Jefferies and Morgan Stanley peg Jio Platforms’ valuation between $130 billion and $180 billion.
​Issue Size: Reliance is expected to offload a 2.5% stake, which could raise approximately $4 billion to $4.5 billion, potentially surpassing the record set by Hyundai India.

Why the Jio IPO is the “Mega Event” of 2026
​Shift to Monetization: Jio has moved from “aggressive customer acquisition” to “profitability.” With the network infrastructure largely built, the focus is now on cash flow.
​The AI Integration: During the Q3 earnings call, Mukesh Ambani emphasized a new phase of value creation through Artificial Intelligence (AI) and New Energy, positioning Jio as a tech giant rather than just a telecom provider.
​Regulatory Support: SEBI’s recent approval to lower the minimum public float for large companies to 2.5% has paved the way for a smoother, high-valuation listing for Jio.

Expert Verdict: Should You Buy Reliance Shares Now?
​Analysts remain “sanguine” about RIL’s long-term trajectory. While the share price saw some profit-booking in early 2026, the upcoming “value unlocking” from the Jio and Retail IPOs acts as a massive cushion.
​Immediate Support: ₹1,405 – ₹1,410 range.
​Medium-Term Target: ₹1,650+.
​Conclusion: Reliance’s Q3 results prove that the company’s “Golden Decade” is well underway. For long-term investors, any dip following the results could be a strategic entry point before the IPO frenzy begins in mid-2026.

Disclaimer :

This blog does not provide financial, investment, or trading advice. All content is for educational and informational purposes only. Please consult a certified financial advisor before making any investment decisions. The author will not be responsible for any financial losses incurred.