Reliance Infrastructure Shares Fall by 5% Despite Profit in Q3 Results; Revenue and Margins Disappoint

Shares of Reliance Infrastructure Ltd declined nearly 5% in trade today, reacting to the company’s mixed Q3FY26 earnings performance, despite a return to profitability.

The stock came under selling pressure as investors focused on the sharp decline in revenue, EBITDA and margins, which overshadowed the turnaround in net profit.

Reliance Infrastructure reported a consolidated net profit of ₹11.2 crore in Q3FY26, compared to a loss of ₹3,298 crore in the same quarter last year. However, revenue slipped 14.6% year-on-year to ₹4,297 crore, while EBITDA plunged 52% to ₹429 crore.

The company’s EBITDA margin also narrowed sharply to 10% from 17.8%, raising concerns over operating efficiency and cost pressures. Market participants said the stock correction reflects investor disappointment over weak core operational performance, despite the improvement in the bottom line.

On a longer-term basis, the stock has declined nearly 60% in the last 6 months.  That said, on a five-year timeframe, Reliance Infrastructure shares have delivered strong gains of over 497%. The stock’s 52-week high stands at ₹425, while the 52-week low is ₹127.95.  In the Q2 results , Reliance Infrastructure reported a 50% decline in consolidated net profit to ₹1,911.19 crore for the September quarter, compared with ₹4,082.53 crore in the same period last year. Total income fell to ₹6,309.48 crore from ₹7,345.96 crore in the July–September quarter of FY25.