Reliance Industries Q1 Results: Net profit at record Rs 26,994 crore, other income jumps nearly four times

Reliance Industries (RIL) announced its earnings for the June quarter on Friday, hitting several major milestones. The company recorded its highest-ever quarterly operating and net profit.

Its telecom arm crossed 200 million 5G subscribers and the retail segment reported strong double-digit EBITDA with one of the best margins in the industry.

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Reliance Industries (RIL) reported a strong performance in the first quarter of FY26, achieving its highest-ever consolidated quarterly operating and net profit. The company’s net profit rose by 78% year-on-year to ₹26,994 crore, supported by a one-time gain of ₹8,924 crore from the stake sale in Asian Paints. Revenue from operations grew 5.3% to ₹2.49 lakh crore, while EBITDA increased 36% to ₹58,024 crore with margins improving to 21.2%. Net debt remained steady at ₹1.17 lakh crore.

Jio Platforms, the digital arm, posted a net profit of ₹7,110 crore, marking a 25% increase year-on-year. Revenue rose to ₹41,054 crore, supported by a higher ARPU of ₹208.8 and a growing user base — with 213 million 5G customers and 20 million fixed broadband premises. The segment maintained strong profitability with an EBITDA margin of 51.8%.

Reliance Retail also delivered robust growth, with net profit rising 28% to ₹3,271 crore and revenue reaching ₹73,720 crore, an 11% increase. The segment’s EBITDA stood at ₹6,381 crore with an industry-leading margin of 8.7%. The company added 388 new stores, taking the total to 19,592, and served 358 million customers. JioMart, its e-commerce platform, saw a 175% rise in daily orders year-on-year.

The Oil to Chemicals (O2C) segment saw revenue dip slightly by 1.5% to ₹1.54 lakh crore due to lower crude prices, but EBITDA rose 10.8% to ₹14,511 crore, aided by stronger domestic fuel margins. Meanwhile, Jio-bp continued expanding, operating 1,991 fuel retail outlets with significant growth in diesel and petrol sales—up 34% and 39% year-on-year, respectively.

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In the oil and gas exploration segment, revenue slightly declined due to natural production tapering. However, gas pricing remained strong at $9.97/MMBTU from the KGD6 basin. EBITDA fell 4.1% to ₹4,996 crore.

"During the quarter, energy markets encountered heightened uncertainty, with sharp fluctuations in crude prices. Our O2C business delivered strong growth, with thrust on domestic demand fulfillment and offering value-added solutions through Jio-bp network. Performance was supported by improvement in fuel and downstream product margins. Natural decline in KGD6 gas production resulted in marginally lower EBITDA for the Oil & Gas segment," Ambani said.