Analysts expect Reliance Industries (RIL) to report a first-quarter result with profit increasing by around 20% year-on-year, driven by performance across its telecom (Jio), retail and new energy businesses. Several outlooks also point to continued attention on how these segments contribute to overall growth, with investors watching operating momentum and earnings trends. In addition to the growth areas, the company’s oil and gas exploration business is expected to deliver a softer quarter. Specifically, its earnings before interest, taxes, depreciation and amortisation (Ebitda) is forecast to decline about 1% to around Rs 4,148 crore, compared with Rs 4,195 crore previously, attributed to lower production. The preview coverage therefore highlights a mixed outlook across RIL’s portfolio: potential acceleration in consumer-facing and emerging energy-related operations, alongside a muted performance in the hydrocarbons segment. Overall, expectations for a profit increase are centered on gains from Jio, retail and new energy, even as the oil and gas arm remains a drag due to production-linked weakness.