Reliance Industries Limited (RIL), India’s largest listed company by market capitalisation, reported a 22% year-on-year drop in consolidated net profit (attributable to shareholders) to Rs 20,946 crore in the quarter ended June 2026 (Q1FY27). The oil-to-telecom conglomerate had posted an attributable profit of Rs 26,994 crore in the year-ago quarter.
Revenue from operations rose 25.4% to Rs 3.12 lakh crore in Q1FY27 from Rs 2.49 lakh crore in the year ago quarter. RIL’s drop in PAT is primarily attributed to an exceptional item that came about due to the sale of Asian Paints stake in the comparable quarter last year.
The group’s bread and butter - Oil to Chemical (O2C) - segment saw its revenue grow by 30.4% y-o-y to Rs 201,803 crore in Q1FY27, mainly due to a sharp increase in crude oil prices by 54.1% y-o-y, partially offset by lower production due to planned turnaround. Segment EBITDA for the reported quarter grew by 17.2% to Rs 17,010 crore due to a sharp increase in transportation fuel cracks and downstream margins.
“The O2C business delivered strong performance during the quarter, supported by all-time high middle distillate cracks and improved downstream petrochemical deltas. This was achieved despite a challenging global energy market backdrop with disrupted supply chains. Our teams navigated this difficult environment with operational agility and ensured adequate availability of essential fuels and materials in the domestic markets,” said Mukesh D. Ambani, Chairman and Managing Director of RIL.
The digital arm - Jio Platforms Ltd’s - revenue increased 12% y-o-y to Rs 45,961 crore in Q1FY27, while segment EBITDA rose 15.1% to Rs 20,865 crore. JPL’s profit grew 9.2% to Rs 7,764 crore in Q1FY27. The important average revenue per user (ARPU) increased further to Rs 215.6 in Q1FY27, up 3.3% y-o-y.
Ambani said that during the quarter, Jio Platforms filed its DRHP with SEBI, a significant step towards its public listing. The upcoming IPO will be an important milestone in Jio’s journey and will give investors an opportunity to participate in India’s digital growth story, he added.
The group’s retail arm - Reliance Retail Ventures Limited (RRVL) - reported gross revenue of Rs 90,408 crore in Q1FY27, up 7.4% y-o-y, while PAT from this segment fell 14.2% to Rs 2,806 crore. EBIDTA margin moderation of 80 bps to 7.9% in Q1FY27 due to growing contribution of digital commerce in revenue and associated infrastructure investments increasing fixed cost, said the company.