Reliance Industries Ltd (RIL), India’s largest company by market capitalization, on Friday reported a near 10% rise in its net profit to Rs 18,165 crore in the quarter that ended in September (Q2FY26) as against Rs 16,563 crore in the same quarter a year ago (Q2FY25). Revenue for the second quarter of this financial year also surged 10% to Rs 258,898 crore against Rs 235,481 crore in Q2FY25.
On a sequential basis, the consolidated net profit declined 32.71% from the previous quarter, which was Rs 26,994 crore. It may be noted that in the previous quarter, Reliance reported a one-off gain of Rs 8,924 crore from the sale of its stake in Asian Paints.
“Reliance delivered a robust performance during 2QFY26 led by strong contribution from O2C, Jio and Retail businesses. Consolidated EBITDA registered 14.6% growth on a Yo-Y basis, reflecting agile business operations, domestic focused portfolio and structural growth in Indian economy,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited.
Revenue for the company’s mainstay business – oil to chemical (O2C) – segment grew 3.2% year-on-year to Rs 160,558 crore while EBIDTA surged sharply by 20.9% to Rs 15,008 crore. Production meant for sale increased 2.3% on a Y-o-Y basis with higher throughput in both primary and secondary units. Jio-bp network added 236 outlets on a Y-o-Y basis, leading to a volume growth of 34% for HSD and 32% for MS.
EBITDA improved due to sharp rebound in transportation fuel cracks (up 22-37%) and improvement in polymer margins. This was, however, partially offset by weak polyester chain deltas. EBITDA was also supported by sustained higher volumes in domestic fuel retailing, said RIL.
“O2C business delivered robust growth on a Y-o-Y basis, despite continued volatility in energy markets. Fuel margins recovered over previous year led by middle distillate cracks. Downstream chemicals continue to be impacted by overcapacity. Corrective steps by the industry stakeholders will help balance global downstream markets in the medium-term. Reliance’s operational delivery is supported by integrated assets, high mix of light-feed cracking, including a virtual ethane pipeline from the US, and strong focus on domestic markets,” stated Ambani.
Reliance Jio Platforms Limited (JPL) reported strong operational growth during the reported quarter with its subscriber base crossing the 500 million (50 crore) milestone and Jio’s average revenue per user (ARPU) increasing to Rs 211.4 per month. Jio Platforms’ consolidated net profit rose 12.8% year-on-year to Rs 7,379 crore, while revenue from operations increased 14.6% to Rs 36,332 crore.
Reliance Retail Ventures’ (RRVL) quarterly revenue rose 18% year-on-year to Rs 90,018 crore in Q2FY26. PAT of this segment grew to Rs 3,457 crore in Q2FY26 from Rs 2,836 crore in Q2FY25. Isha M. Ambani, Executive Director at RRVL, said, “GST rate changes will further accelerate consumption growth as consumers get the benefit of lower prices. Our success is a testament to our deep understanding of the consumer.”
