Key Takeaways
- Reliance Industries Q2 net profit jumps 14.3% to Rs 22,092 crore
- Consolidated revenue grows 10% to Rs 2.83 lakh crore
- All major segments – O2C, Jio, and Retail – show strong performance
Reliance Industries Limited (RIL) has reported impressive second-quarter results for FY2026, with consolidated net profit surging 14.3% year-on-year to Rs 22,092 crore. The conglomerate’s robust performance was driven by strong growth across its Oil-to-Chemicals, digital services, and retail businesses.
Financial Performance Overview
The company’s consolidated revenue increased by 10% YoY to Rs 2,83,548 crore, while quarterly EBITDA grew 14.6% to Rs 50,367 crore. This growth was supported by higher throughput in the O2C segment, strong consumer demand, and continued traction in Jio’s digital operations.
“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 Y-o-Y basis, reflecting agile business operations, domestic-focused portfolio and structural growth in Indian economy.”
Mukesh D. Ambani, Chairman and Managing Director, emphasized that the O2C business delivered robust growth despite continued volatility in energy markets.
Segment-wise Performance
Oil-to-Chemicals (O2C)
The O2C business achieved its highest-ever quarterly throughput of 20.8 million metric tonnes, up 3% YoY, with EBITDA rising 20.9% to Rs 15,008 crore. Refinery margins showed recovery, driven by sharp increases in transportation fuel cracks.
The Jio-bp fuel retail network expanded to 2,057 outlets, with motor spirit and high-speed diesel volumes growing 32% and 34% respectively.
Digital Services (Jio)
Jio Platforms reported a 15% YoY revenue increase to Rs 42,652 crore and a 17.7% jump in EBITDA to Rs 18,757 crore. ARPU grew 8.4% to Rs 211.4, while Jio’s 5G subscriber base reached 234 million. Total home connections stood at 22.7 million, with JioAirFiber maintaining global leadership at 9.5 million subscribers.
“Jio has proudly served over 500 million subscribers addressing multiple digital needs of their everyday life… Jio has successfully delivered its indigenous technology stack at India scale and is now set to take our homegrown technology around the world.”
Akash M Ambani, Chairman of Reliance Jio Infocomm, commented.
Retail Business
Reliance Retail posted strong 18% YoY revenue growth to Rs 90,018 crore, with EBITDA up 16.5% at Rs 6,816 crore. Grocery and Fashion & Lifestyle segments led growth at 23% and 22% respectively, while total store count increased to 19,821.
“Reliance Retail delivered strong performance during the quarter led by our relentless focus on operational excellence, investments in stores and digital platforms and festive buying across consumption baskets.”
Isha M. Ambani, Executive Director, Reliance Retail Ventures, stated.
Capital Expenditure and Investments
Capital expenditure during the quarter stood at Rs 40,010 crore, fully covered by cash profit of Rs 40,778 crore. Reliance continued to invest in O2C capacity expansion, Jio’s 5G rollout, and its new energy giga factories.
The Oil and Gas segment was the only weak spot, with revenue falling 2.6% YoY and EBITDA down 5.4% due to natural decline in KGD6 output.
