Reliance Reports Strong Q2 FY26 Consolidated Results: Net Profit Up 14.3% to ₹22,092 Crore
Reliance Industries' Q2 FY26 consolidated results show strong growth: PAT up 14.3% to ₹22,092 crore. Jio, Retail, and O2C segments performed robustly, driven by subscriber gains and improved margins.
This announcement is highly impactful due to Reliance Industries' large market capitalization and significant influence across multiple sectors (telecom, retail, energy). Strong financial results and positive outlook from a conglomerate of this scale typically have a substantial impact on investor sentiment and market performance.
The company reported significant year-on-year growth in consolidated gross revenue, EBITDA, and net profit. Key segments like Jio Platforms, Reliance Retail, and O2C demonstrated strong performance and positive operational updates, backed by positive management commentary on growth and future prospects.
* Consolidated Financial Highlights for Q2 FY26 (Quarter ended September 30, 2025): * Gross Revenue increased by 9.9% year-on-year (Y-o-Y) to ₹283,548 crore. * EBITDA grew by 14.6% Y-o-Y to ₹50,367 crore. * Profit After Tax and Share of Profit/(Loss) of Associates & JVs rose by 14.3% Y-o-Y to ₹22,092 crore. * Capital Expenditure for the quarter was ₹40,010 crore, primarily for O2C capacity expansion, Jio network/digital services, retail footprint, and New Energy giga factories.
* Segmental Performance: * Jio Platforms: Gross Revenue was ₹42,652 crore (up 14.9% Y-o-Y) and EBITDA was ₹18,757 crore (up 17.7% Y-o-Y). The subscriber base surpassed 500 million, reaching 506 million as of September 2025. ARPU increased to ₹211.4. JioAirFiber now has 9.5 million subscribers, connecting over 1 million new homes monthly. * Reliance Retail Ventures Limited (RRVL): Gross Revenue reached ₹90,018 crore (up 18.0% Y-o-Y) and EBITDA was ₹6,816 crore (up 16.5% Y-o-Y). The business opened 412 new stores, bringing the total to 19,821, and its registered customer base grew to 369 million. Grocery and Fashion & Lifestyle businesses grew by 23% and 22% Y-o-Y, respectively. * Oil to Chemicals (O2C): Revenue increased by 3.2% Y-o-Y to ₹160,558 crore, with EBITDA up 20.9% Y-o-Y to ₹15,008 crore. This was driven by a sharp rebound in transportation fuel cracks and sustained volume growth in domestic fuel retailing through Jio-bp, which operates 2,057 outlets. * Oil and Gas (Exploration and Production): Revenue decreased by 2.6% Y-o-Y to ₹6,058 crore, and EBITDA declined by 5.4% Y-o-Y to ₹5,002 crore. This was mainly due to a natural decline in KGD6 production and lower condensate price realization, partly offset by higher KGD6 gas prices and increased CBM volume. * JioStar Business: Reported an EBITDA of ₹1,738 crore, with the India-England Test Series becoming the most-watched digital Test series (170 million viewers) and JioHotstar averaging 400 million monthly active users.
* Management Commentary: * Mukesh D. Ambani, Chairman and Managing Director, RIL: Stated that Reliance delivered a robust performance, attributing consolidated EBITDA growth to agile operations, a domestic-focused portfolio, and India's structural economic growth. He highlighted the scaling of Digital Services, momentum in Retail, and recovery in O2C, expressing optimism for new growth engines like new energy, media, consumer brands, and AI initiatives. * Akash M Ambani, Chairman, Reliance Jio Infocomm: Expressed pride in Jio serving over 500 million subscribers, crediting Deep-Tech initiatives for India's technological revolution and aiming to take homegrown technology globally. * Isha M. Ambani, Executive Director, RRVL: Emphasized Reliance Retail's strong performance due to operational excellence, investments in stores and digital platforms, and festive buying. She noted that GST rate changes would further boost consumption-led growth.
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Reliance Industries Limited filed this with the NSE as a statutory disclosure, categorised under quarterly results. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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