On the back of the stake sale in Asian Paints, billionaire Mukesh Ambani-led Reliance Industries Ltd’s (RIL) consolidated net profit grew by 78.32% in the first quarter of the financial year 2026 (Q1FY26) to Rs 26,994 crore as against Rs 15,138 crore profit reported in the same period last fiscal.
RIL pocketed Rs 8,924 crore from its stake sale in Asian Paints, and excluding this one-time gain, the conglomerate’s profit stood at Rs 18,070 crore in Q1FY26, higher by 19% than the Q1FY25 profit. The company had reported a PAT of Rs 19,407 crore in the preceding March quarter (Q4FY25).
RIL’s revenue from operations stood at Rs 248,660 crore, a 5.27% year-on-year growth from Rs 236,217 crore in Q1FY25. Sequentially, there was a decline as RIL’s revenue stood at Rs 288,138 crore in Q4FY25.
Mukesh Ambani, Chairman and Managing Director of RIL, said that 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 the 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,” added Ambani.
The oil-to-chemical (O2C) segment, which contributes more than half of RIL’s revenue, saw its EBITDA grow by 11% in Q1FY26 to Rs 14,511 crore. Revenue from this segment declined by 1.5% year-on-year to Rs 154,804 crore.
RIL said that segment revenue was impacted due to a fall in crude oil prices and lower volumes on account of planned shutdown. Revenues were supported by higher domestic placement of transportation fuels through the Jio-bp network.
RIL’s Jio Platforms saw its profit grow by 25% to Rs 7,110 crore in Q1FY26. Revenue grew by 19% to Rs 41,054 crore and Jio’s average revenue per user (ARPU) increased to Rs 208.8, up 14.9% y-o-y, in Q1FY26.
Reliance Retail Ventures Ltd (RRVL) reported a 11% increase in its revenue at Rs 84,171 crore and a 28% growth in PAT to Rs 3,271 crore in Q1FY26. Sequentially, however, there was a dip in revenue and profit.
Mukesh Ambani stated that their business performance and growth initiative gives him confidence that Reliance will continue its stellar track record of doubling every 4-5 years.