Reliance Industries Ltd (RIL) delivered a steady financial performance in the third quarter of FY26, reporting a 10 per cent rise in consolidated revenue compared to the same period last year.
The growth was largely driven by strong momentum in its digital services, oil-to-chemicals (O2C) and retail businesses, helping the company navigate challenges in its oil and gas exploration segment.
For the October–December quarter, RIL posted consolidated revenue of nearly ₹2.9 lakh crore. Net profit rose marginally by about 1.6 per cent year-on-year to around ₹22,300 crore, while EBITDA increased by about 6 per cent, reflecting stable operating performance across key verticals.
The digital services arm, led by Jio Platforms, remained a major growth engine. Jio recorded healthy increases in revenue and operating profit, supported by strong subscriber additions, rising data consumption and continued expansion of its 5G and home broadband services. The company benefited from higher average revenue per user and growing adoption of digital offerings.
The oil-to-chemicals business also reported a solid quarter. Revenue and earnings improved on the back of better refining margins, higher fuel demand and efficient operations across refineries and petrochemical plants. Despite a challenging global environment, the segment delivered stable performance and contributed meaningfully to overall earnings.
Reliance Retail continued to expand its footprint and recorded over 8 per cent growth in revenue during the quarter. However, profitability in the retail business remained under pressure due to higher operating costs, competitive pricing and the impact of regulatory changes affecting margins.
In contrast, the oil and gas exploration and production segment faced headwinds. Lower production from mature fields and softer price realisations weighed on the segment’s performance, partially offsetting gains from other businesses.
Commenting on the results, Chairman and Managing Director Mukesh Ambani said the company’s diversified business model helped deliver consistent performance despite global uncertainties. He highlighted the continued strength of consumer-facing and downstream businesses as key pillars of growth.
