Reliance Industries reported record consolidated profit after tax of ₹29,550 crore ($3.1 billion) for the three months ended Sept. 30, 2026, as oil-to-chemicals and Jio gains offset lower retail profit.
The total includes ₹300 crore from associates and joint ventures; profit before that contribution was ₹29,250 crore. Earnings before interest, taxes, depreciation and amortization rose 23.9% to ₹62,409 crore ($6.5 billion). Reliance’s results filing showed sales and services of ₹362,268 crore ($37.8 billion), up 27.8% year over year. It separately reported revenue from operations of ₹332,861 crore after deducting ₹29,407 crore in goods and services tax recovered.
Oil-to-chemicals (O2C) revenue increased 44.2% to ₹231,601 crore, while EBITDA reached ₹25,203 crore, up 67.9%. Reliance linked the division’s gains to tight fuel and feedstock markets, stronger realizations for its products and improved downstream chemical margins.
Jio Platforms’ revenue from operations grew 11.4% to ₹40,475 crore, and profit after tax rose 13.7% to ₹8,387 crore. Its customer base reached 542.4 million, including 300 million 5G customers. Average monthly revenue per user was ₹218.8, and monthly data use averaged 44.2 gigabytes per customer.
Retail profit after tax was ₹2,611 crore, down 6.9% from the June quarter and 24.3% year over year. Gross revenue rose 6.4% to ₹91,716 crore. EBITDA was ₹6,120 crore after a one-time ₹108 crore impairment charge, down 3% sequentially. Reliance pointed to the festive season’s placement in the third quarter, online-commerce investment and higher input costs it absorbed for customers as pressures on retail margins.
The retailer opened 303 stores but ended the quarter with 19,947, a net count 222 below June after it exited underperforming locations. Transactions rose 7% from a year earlier, while grocery business-to-consumer online revenue increased 42%.
Net debt fell to ₹117,140 crore from ₹122,914 crore at June 30. Reliance spent ₹38,153 crore on capital projects, including new-energy capacity, retail delivery infrastructure and O2C projects. The company expects new-energy operations to gather pace over coming quarters and contribute to earnings from fiscal 2028.
