Reliance Industries reported a strong Q2 FY26 performance with consolidated EBITDA up 14.6% Y-o-Y and net profit increasing by 14.3% Y-o-Y. O2C EBITDA rose 20.9%, driven by higher transportation fuel cracks. Reliance Retail also showed robust growth with EBITDA up 16.5%. Jio’s subscriber base crossed 500 million, with platform EBITDA up 17.7%. These results reflect strong operational performance and structural growth in the Indian economy.
Financial Performance Highlights
Reliance Industries announced its consolidated financial results for the quarter ended September 30, 2025 (Q2 FY26), showcasing significant growth across various segments:
- Gross Revenue: ₹283,548 crore, a 9.9% increase Y-o-Y.
- EBITDA: ₹50,367 crore, up 14.6% Y-o-Y.
- Net Profit: Increased by 14.3% Y-o-Y.
The company’s strong performance was driven by robust contributions from its O2C, Jio, and Retail businesses.
Segmental Performance
O2C (Oil to Chemicals)
The Oil to Chemicals segment demonstrated substantial growth:
- EBITDA: Increased by 20.9% to ₹15,008 crore, with margin up 130 bps.
This growth was primarily attributed to a sharp increase in transportation fuel cracks.
Jio Platforms
Jio Platforms continued its expansion and profitability:
- Subscriber Base: Crossed 500 million, reaching a total base of 506 million subscribers.
- EBITDA: Increased by 17.7% Y-o-Y to ₹18,757 crore, with margin up 140 bps.
Reliance Retail
Reliance Retail maintained its growth trajectory:
- EBITDA: Increased by 16.5% Y-o-Y to ₹6,816 crore.
Operational Updates
The company highlighted several key operational achievements:
- Jio Airfiber continues its rapid rollout, connecting over 1 million new homes per month.
- Reliance Retail opened 412 new stores in Q2 FY26, expanding its reach.
- JioTrue5G user base reached 234 million as of September 2025.
Chairman’s Statement
Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries, commented on the results: “Reliance delivered a robust performance during 2QFY26 led by strong contribution from O2C, Jio and Retail businesses. Consolidated EBITDA registered 14.6% growth… reflecting agile business operations, domestic focused portfolio and structural growth in Indian economy.”
Source: BSE
