Q1 Results today: Reliance Industries, JSW Steel among 33 companies announcing June quarter earnings. What to expect?

As many as 33 companies are set to announce their quarterly earnings on Friday, with heavyweight Reliance Industries (RIL) grabbing the spotlight as investors await the Mukesh Ambani-led conglomerate’s Q1 results.

JSW Steel, Federal Bank, Havells India, Oberoi Realty, RBL Bank, Poonawalla Fincorp, Tata Technologies and Central Bank are some of the other notable names releasing their quarterly results on Friday.

The strong momentum will spill over to Saturday as well, when several heavyweight banks including HDFC Bank, Yes Bank, ICICI Bank, Axis Bank, Kotak Mahindra Bank, Punjab National Bank (PNB) and IDFC First Bank are scheduled to announce their earnings for the April-June quarter of the ongoing financial year 2027.


The market is reacting to Thursday’s earnings announcements by IT majors Wipro and Tech Mahindra, as well as Jio Financial Services, Ceat and others. Wipro shares dropped more than 3% as brokerages reduced target prices after the IT firm's muted Q1 profit growth. Tech Mahindra shares meanwhile jumped more than 3% after its June quarter earnings beat estimates, leading to several brokerages hiking their target prices for the stock.

Also Read | Tech Mahindra shares jump 3% after Q1 earnings beat estimates. What Nomura, Nuvama, other brokerages now expect

What to expect from RIL Q1 earnings?
Reliance Industries will likely release its Q1 results for the ongoing financial year 2027 in the post-market hours of Friday. Analysts expect the company to report a steady performance, led by a recovery in its oil-to-chemicals business and continued growth in digital services, even as retail growth stays muted and oil and gas earnings decline.

Brokerages expect Reliance Industries’ consolidated EBITDA to increase in the range of 4–10% year-on-year in Q1 FY27. The key driver is expected to be the O2C business, supported by stronger refining margins, tighter petrochemical spreads, a weaker rupee and benefits from the SEZ refinery. IPO-bound Jio is also likely to support earnings through a higher average revenue per user and subscriber additions.

Retail, however, may remain a soft spot due to weak consumption trends and margin pressure. The upstream oil and gas business is expected to decline from last year due to lower production from the KG-D6 block.

Also Read | RIL Q1 strategy: How to trade Reliance Industries shares ahead of June quarter earnings?

Market outlook
The Indian stock market recorded sharp gains on Friday, with Sensex jumping around 600 points and Nifty rising above 24,200 despite overall global market downtrend and escalating US-Iran conflict.

Goldman Sachs sees the Nifty 50 rebounding to 26,500 by June 2027, a level above its current record high of 26,373, as it turns more constructive on India following an improvement in the recent macro backdrop.

(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)