Reliance Industries, HDFC Bank, ICICI Bank Q3 earnings to drive markets on Monday; check key numbers here

The Indian equity benchmarks are likely to be driven by December quarter earnings posted by index heavyweights like HDFC Bank, ICICI Bank and Reliance Industries over the weekend on Monday, January 19. The Indian stock market witnessed a range-bound week ending Friday, January 16, with both the equity benchmark indices closing largely flat. The NIFTY50 moved marginally, gaining just 11.05 points during the week, while the BSE SENSEX slipped 5.89 points.

The markets will react to the December quarter earnings reported by India's most valuable company Reliance Industries, the country's largest and second largest private lenders HDFC Bank and ICICI Bank respectively.

RIL Q3 earnings

Billionaire Mukesh Ambani-backed Reliance Industries on Friday reported net profit of ₹18,645 crore in the third quarter of the current financial year (Q3FY26), marking a marginal increase of 0.57% from ₹18,540 crore in the same period last year.

Reliance Industries' revenue from operations advanced 10.5% to ₹2,69,496 crore in the October-December period compared with ₹2,43,865 crore in the year-ago period.

The country's most valuable company reported stable operational performance as its EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) also known as operating profit advanced 5% to ₹ 46,018 crore at the end of December quarter compared with 43,789 crore in the same period last year.

Its operating profit margins, however, contracted by 90 basis points 17.08% as against 17.96%

Reliance Jio Platforms Q3 earnings

Reliance Jio Platforms, the telecom arm of the oil-to-telecom conglomerate, reported an 11.2% increase in net profit from ₹6,861 crore to ₹7,629 crore at the end of December quarter.

Its EBITDA advanced 16.4% to ₹19,303 crore and EBITDA margin improved by 170 basis points to 51.8%.

Reliance Jio's average revenue per user (ARPU) per month, a key metric of a telecom company's profitability, improved to ₹213.7 per month from ₹211.4 per use in the previous quarter.

HDFC Bank Q3 earnings

HDFC Bank, the country's largest private sector lender, reported a net profit of ₹18,654 crore in December quarter, marking an increase of 11.5% from ₹16,735 crore.

HDFC Bank’s net interest income for the quarter jumped 6.4% YoY to ₹32,620 crore as against ₹30,650 crore in the same period last year. The net interest margin on core assets stood at 3.35% and 3.51% on the interest-earning assets.

HDFC Bank’s average deposits were ₹27.5 lakh crore for the December 2025 quarter, a growth of around 12.2% over ₹24.5 lakh crore for the Q3FY25.

The Bank’s average CASA deposits were ₹8.9 lakh crore for the December 2025 quarter, a growth of around 9.9% over ₹8.1 lakh crore for the previous year's same quarter.

The Bank’s average time deposits were ₹18.5 lakh crore for the December 2025 quarter, a growth of around 13.4% over ₹16.3 lakh crore for the same period last year.

The Bank’s period-end deposits were around ₹28.5 lakh crore as of December 31, 2025, a growth of around 11.5% over ₹25.6 lakh crore as Q3FY25. The Bank’s period-end CASA deposits were around ₹9,.6 lakh crore as of December 31, 2025, a growth of around 10.1% over ₹8.7 lakh crore as of Q3FY25.

ICICI Bank Q3 earnings

ICICI Bank, the country's second-largest private sector lender, posted its earnings for the December quarter of the 2025-26 financial year (Q3 FY26) on Saturday, January 17, posting a 4.02% year-on-year (YoY) slump in its consolidated net profit to ₹11,317.86 crore.

In the third quarter of the previous fiscal year, the bank had logged a profit of ₹11,792.42 crore, it said in a regulatory filing. On a sequential basis, its profit declined 8.42% quarter-on-quarter (QoQ) from ₹12,358.89 crore in Q2 of FY26.

Its net interest income (NII) surged 7.7% YoY to ₹21,932 crore during the quarter under review, compared to ₹20,371 crore in Q3 of the 2024-25 fiscal year (Q3FY25).

It clocked a net interest margin (NIM) of 4.3% in Q3 FY26, in comparison to 4.25% in the year-ago period. Sequentially, it remained unchanged.

ICICI Bank's gross non-performing assets (GNPA) fell slightly to 1.53% for the reporting quarter, as against 1.58% in the September quarter of the current fiscal year and 1.96% in Q3 of FY25. Its net NPA (NNPA) stood at 1.96%, from 0.39% in the previous quarter and 0.42% in the same period of last year.

Last week, key factors influencing the Indian market included beginning of the December quarter corporate earnings, global cues, a rally in IT stocks, persistent foreign fund outflows, and movements in crude oil prices.

IT stocks were in focus this week as key IT companies like Infosys, TCS, and HCL Technologies, Wipro and Tech Mahindra reported their Q3 FY26 earnings.

Infosys was on the biggest gainers after the Indian IT firm reported 9% YoY jump in revenue at ₹45,479 crore from ₹41,764 crore in the same period last year. The constant currency revenue jumped 1.7% YoY and 0.6% sequentially. At the operating level, the company’s adjusted operating margins remained largely unchanged at 21.2% vs 21.3% in the Q3FY25.