Reliance delivers ‘robust performance’ with 14.3% profit jump, fueled by telecom, retail boom and strong oil earnings

Mumbai: Reliance Industries Limited (RIL) has delivered a robust financial performance for the quarter ended September 30, 2025 (2Q FY26), posting major growth across its core energy, digital, and retail sectors. The results affirm the company’s focus on the domestic market and rapid expansion across consumer-facing services.

The primary takeaway for investors and the market is twofold: the company made substantially more money than last year, and this growth was highly diversified, driven by explosive performance in customer acquisition and high-margin oil products.

RIL reported a consolidated Net Profit of ₹ 22,092 crore, marking a strong 14.3% growth year-over-year (Y-o-Y). The company’s core operational profitability, measured by Consolidated EBITDA, also surged, increasing by 14.6% Y-o-Y to reach ₹ 50,367 crore.

Overall consolidated sales, or Gross Revenue, rose to ₹ 283,548 crore, which represents a solid 9.9% increase from the same period last year.

Chairman and Managing Director, Mukesh D. Ambani, noted that this performance was directly “led by strong contribution from O2C, Jio and Retail businesses,” reflecting agile operations and the structural growth of the Indian economy.

Which segments grew fastest?

While all major segments contributed to the bottom line, the Oil to Chemicals (O2C) division and the Consumer Retail business (RRVL) recorded the highest year-over-year growth rates in key metrics, driving the overall financial story.

1. Oil to Chemicals (O2C) segment: 

The traditional energy and chemical segment, O2C, saw the single largest percentage jump in core profit, primarily due to soaring fuel margins.

• EBITDA soars: O2C Segment EBITDA increased sharply by 20.9% Y-o-Y, reaching ₹ 15,008 crore. This growth was driven by a sharp rebound in transportation fuel cracks (with margins up 22–37%) and sustained domestic volume growth.
• Fuel volume explosion: RIL’s fuel retailing operations, Jio-bp, outperformed the industry, achieving massive volume growth of 34% for High-Speed Diesel (HSD) and 32% for Motor Spirit (MS) Y-o-Y. The Jio-bp network has expanded to 2,057 fuel retail outlets.

2. Reliance retail (RRVL): 

The Retail segment showed the strongest revenue growth, powered by festival spending and aggressive physical and digital expansion.

• Revenue growth leader: Reliance Retail’s Gross Revenue grew by 18.0% Y-o-Y to ₹ 90,018 crore. Its EBITDA also grew by a healthy 16.5% Y-o-Y, reaching ₹ 6,816 crore.
• Festive consumption surge: The fastest-growing categories benefited heavily from festive demand:
• Grocery business revenue grew by 23% Y-o-Y.
• Fashion & lifestyle business revenue grew by 22% Y-o-Y.
• Quick delivery hyper-growth: The quick hyper-local commerce platform, JioMart, registered a surge of over 200% Y-o-Y growth in average daily orders. The platform extended its Quick Hyper-Local deliveries to electronics and accessories, promising 30-minute delivery across 10 cities.
• Store expansion: The retail footprint continues to grow, with the addition of 412 new stores in the quarter.

3. Digital services (Jio Platforms): The 500 million milestone

Digital services maintained strong momentum through subscriber gains and network monetisation.

• Jio’s customer scale: Jio successfully crossed the milestone of 500 million subscribers, reaching a total base of over 506 million as of September 2025.
• Digital profitability: Jio Platforms’ EBITDA increased by 17.7% Y-o-Y to ₹ 18,757 crore, driven by revenue growth (up 14.9% Y-o-Y) and margin expansion.
• 5G & home broadband leadership: The 5G user base increased to 234 million, accounting for approximately 50% of the total wireless traffic. Meanwhile, the high-speed fixed broadband service, JioAirFiber, is accelerating, connecting over 1 million new homes every month, resulting in a subscriber base of 9.5 million.

Media and New Ventures Shine

RIL’s media and entertainment segment (JioStar) reported record EBITDA for the quarter, achieving an industry-leading margin of 28.1%. The strong performance was underpinned by major sports and entertainment properties:

• Digital viewership records: The India–England Test Series became the most-watched Test series ever on a digital platform, drawing 170 million viewers.
• The digital platform, JioHotstar, averaged 400 million Monthly Active Users (MAUs) during the quarter.

In addition to operational success, RIL’s Capital Expenditure for the quarter totalled ₹ 40,010 crore, which shows continued investment in capacity expansion in O2C, augmenting the Jio Telecom network, increasing retail footprint, and constructing New Energy giga factories.