Brokerages expect Reliance Industries (RIL)’s earnings to grow on the back of growth in Jio and retail businesses, but they expect moderate growth in oil to chemicals (O2C)segment in the coming quarters due to geo- political issues in West Asia. RIL posted 13 % decline in profits in Q4FY26. RIL’s 16971 crore profit in Q4FY,26 was the lowest for the company in the past six quarters. O2C segment posted a 3.7% decline YoY in Q4FY26 at Rs 14520 crore amidst sharp rise in crude premiums on physical barrels, elevated freight and insurance costs and higher fuel cost, The company also held fuel prices at outlets , leading to under recoveries in fuel retailing.