Reliance posts highest-ever ₹30,783 cr profit in Q1 FY26, boosted by stake sale and consumer biz growth

Reliance Industries Ltd, India's most valuable company, led by tycoon Mukesh Ambani, recorded the highest-ever consolidated net profit during the April-June quarter of FY26 at ₹30,783 crore, a significant rise of 76.5% year-on-year (YoY), driven by gains from an Asian Paints stake sale worth ₹1,876 crore and robust growth across RIL's consumer-facing businesses. The oil-to-telecom giant's gross revenue saw a decent 6% YoY rise to ₹2.73 lakh crore, according to the exchange filing.

Excluding a one-time gain worth ₹8,924 crore, RIL's net profit grew 25% YoY. "Excluding proceeds of profit from sale of listed investments, EBITDA increased by 15% and PAT was up 25% YoY," the RIL statement says.

Reliance Industries says its telecom arm, Reliance Jio, surpassed 200 million 5G subscribers and 20 million home connections. Jio Platforms saw its EBITDA grow 24% YoY at ₹18,135 crore, while its margins were up 210 basis points (bps). JPL revenue increased by 18.8% YoY due to strong subscriber growth across mobility and homes, increased consumption, and sustained positive momentum in digital services.

Isha Ambani-led Reliance Retail's (RRVL) EBITDA grew a healthy 13% YoY at ₹6,381 crore, while the company recorded an industry-leading EBITDA margin. RRVL's revenue surged by 11.3% YoY. "All segments performed well, with market-leading performance in grocery and fashion," says the company.

RIL's oil-to-chemicals (O2C) revenue, however, decreased by 1.5% YoY due to a fall in crude oil prices and lower volumes on account of the planned shutdown. Nevertheless, the segment revenues were supported by increased domestic placement of transportation fuels through Jio-bp.

Oil and gas segment revenue also decreased by 1.2% YoY, mainly on account of lower sales volume of KGD6 gas with natural decline in production, lower gas price for CBM, and lower crude price realisation, partly offset by improved KGD6 gas price realisation. Its EBITDA increased by 35.7% YoY to ₹58,024 crore ($6.8 billion).

Mukesh Ambani said Reliance has begun FY26 with a robust, all-round operational and financial performance. "Consolidated EBITDA for 1Q FY26 improved strongly from the year-ago period, despite significant volatility in global macros. Reliance is committed to contribute to India’s growth on this journey through inclusive growth, technological innovation, and leading energy transformation. Reliance will continue its stellar track record of doubling every 4-5 years.”

He said during the quarter, energy markets encountered heightened uncertainty, with sharp fluctuations in crude prices. "Our O2C business delivered strong growth, with a thrust on domestic demand fulfilment and offering value-added solutions through 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."

Speaking about RIL's retail business, he said its customer base expanded to 358 million, along with improvement across operating metrics. "We are focusing on strengthening the portfolio of own FMCG brands, which resonate with the tastes of Indian consumers. Our Retail business continues to enhance its ability to fulfil everyday as well as specialised needs of all customer cohorts, through a multi-channel approach."

Ambani said Reliance Jio has scaled newer heights during the quarter, including crossing 200 million 5G subscribers and 20 million home connections. "Jio AirFiber is now the largest FWA service provider in the world, with a base of 7.4 million subscribers."

He added that the company's digital services business consolidated its market position with a robust financial and operational performance. "Through its differentiated offerings across mobility, broadband, enterprise connectivity, cloud, and smart homes, Jio has positioned itself as the technology partner of choice for Indian consumers."

The RIL share closed 0.02% down at ₹1476.85 on the BSE today.