Reliance Industries faces 3.7% profit drop amid rising oil costs and refining challenges.

Reliance Industries is expected to report a 3.7% decline in quarterly profit, despite an 8.1% revenue increase, due to soaring crude oil prices from Middle East tensions. Rising input costs and a shift in production are pressuring the oil-to-chemicals segment, causing the stock to drop 8% year-to-date. Meanwhile, its telecom arm, Reliance Jio, is forecast to add 5 million subscribers, while the retail segment faces slower growth.