Reliance Industries Ltd (RIL) delivered a strong performance in the second quarter of FY26, with consolidated net profit rising about 14% year-on-year to ₹22,140 crore. Growth was powered by continued strength across its oil-to-chemicals (O2C), telecom, and retail divisions.
Gross revenue rose 10% to ₹2.83 lakh crore, while operating profit (EBITDA) climbed nearly 15% to ₹50,367 crore, supported by improved margins from operational efficiencies and a favourable business mix.
Jio Platforms Ltd maintained its growth momentum, posting a 12.8% jump in net profit to ₹7,379 crore. Average revenue per user (ARPU) increased to ₹211.4, reflecting rising 5G adoption and new subscriber additions. More than 234 million users are now on its 5G network, accounting for half of all wireless data traffic.
Reliance Retail continued to expand aggressively, with revenue up nearly 19% and profit rising 21.9% year-on-year. The division added 412 new stores during the quarter, taking its footprint to 77.8 million sq ft across 19,821 outlets, boosted by demand in grocery, fashion, and electronics.
Chairman Mukesh Ambani said Reliance’s “resilient and broad-based performance” underscores its readiness for the next phase of growth across new energy, AI, media, and consumer technology. “Our businesses have delivered sustained momentum with strong domestic orientation,” he said.
The O2C segment posted modest revenue growth of 3.2% but saw a sharp 20.9% rise in EBITDA, thanks to firmer fuel margins and higher retail volumes. Downstream chemicals, however, remained under pressure from global oversupply.
Reliance’s oil and gas exploration business underperformed, with revenue slipping 2.6% due to lower production and softer condensate prices, though realized gas prices from the KG-D6 basin improved slightly.
Meanwhile, its digital and media arm JioStar saw profits more than double to ₹1,322 crore, reaching over 830 million users across platforms, a reflection of the group’s expanding digital ecosystem.
Capital expenditure rose to ₹40,010 crore, focused on telecom infrastructure, retail expansion, and renewable energy projects. Net debt stood at ₹1.18 lakh crore, while cash reserves increased to ₹2.3 lakh crore.
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