Reliance Q3 FY26: Modest Profit Growth, Strong Jio & O2C Performance | Quick Digest

Reliance Q3 FY26: Modest Profit Growth, Strong Jio & O2C Performance | Quick Digest
Reliance Industries reported a marginal 0.56% year-on-year increase in Q3 FY26 net profit to ₹18,645 crore, while revenue from operations grew 10.5% to ₹269,496 crore. Strong performances in its Jio Platforms and Oil-to-Chemicals (O2C) segments largely drove this resilience.

Consolidated net profit marginally rose to ₹18,645 crore.

Revenue from operations increased by 10.5% year-on-year.

Jio Platforms saw robust 11.2% net profit growth.

O2C segment's EBITDA surged 14.6% due to fuel margins.

Reliance Retail's revenue grew 9.2%, despite modest profit rise.

Oil and Gas segment faced pressures, with decreased EBITDA.

Reliance Industries Limited (RIL) announced its financial results for the third quarter of Fiscal Year 2026 (Q3 FY26), reporting a consolidated net profit attributable to owners of ₹18,645 crore. This represents a marginal year-on-year increase of 0.56% from ₹18,540 crore in Q3 FY25, and a 2.6% rise sequentially from the previous quarter. The company's revenue from operations, however, witnessed a substantial 10.5% year-on-year growth, reaching ₹269,496 crore. Consolidated EBITDA also increased by 6.1% year-on-year to ₹50,932 crore, although the EBITDA margin saw a slight contraction to 17.3% from 18% in Q3 FY25. The "consistent operational resilience" highlighted in the original headline is largely supported by the robust performance of its key consumer-facing and energy segments. Jio Platforms, RIL's digital services arm, emerged as a primary growth driver, reporting an 11.2% year-on-year jump in net profit to ₹7,629 crore and a 12.7% increase in revenue to ₹37,262 crore. Jio's subscriber base surpassed 515 million, with 5G subscribers exceeding 250 million, and its Average Revenue Per User (ARPU) increased to ₹213.7. Reliance Retail also delivered a solid performance, with revenue from operations growing 9.2% year-on-year to ₹86,951 crore and a net profit of ₹3,551 crore, up 2.7% year-on-year. In the energy sector, the Oil-to-Chemicals (O2C) segment's revenue rose 8.4% to ₹162,095 crore, and its EBITDA surged by 14.6% to ₹16,507 crore, primarily driven by significantly higher transportation fuel margins. Conversely, the Oil and Gas (Exploration & Production) segment faced headwinds, with its revenue decreasing by 8.4% and EBITDA falling by 12.7% due to lower volumes and price realizations. Despite the relatively flat consolidated net profit, which was impacted by factors like increased finance costs and depreciation, the overall results demonstrate the diversified conglomerate's ability to maintain strong operational performance across most of its businesses.
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