RIL Q3 Profit Edges Up 2.6%; Jio and O2C Fuel Growth

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AuthorRiya Kapoor|Published at:
RIL Q3 Profit Edges Up 2.6%; Jio and O2C Fuel Growth
Overview

Reliance Industries posted a 2.6% quarter-on-quarter increase in consolidated net profit to ₹18,645 crore for Q3 FY26, fueled by robust performance in its digital services (Jio) and oil-to-chemicals (O2C) businesses. The conglomerate achieved record consolidated EBITDA of ₹50,932 crore, with Jio adding 8.9 million subscribers and O2C segment EBITDA surging 14.6% year-on-year.

Reliance Industries, India's largest conglomerate, reported a modest 2.6% rise in consolidated net profit for the third quarter of the financial year 2026 (Q3 FY26), reaching ₹18,645 crore. The results, announced on Friday, showed an uptick from the ₹18,165 crore profit recorded in the previous quarter. On a year-on-year basis, the profit after tax saw a 1.6% increase to ₹22,290 crore.

Revenue and EBITDA Momentum

Revenue from operations climbed 4.1% quarter-on-quarter to ₹269,496 crore. Gross revenue for the quarter stood at ₹293,829 crore, marking a significant 10.0% growth year-on-year. This expansion was primarily driven by the oil-to-chemicals (O2C) segment and digital services. The company's consolidated EBITDA reached a record ₹50,932 crore, up 6.1% year-on-year.

Jio's Digital Dominance

The digital arm, Jio Platforms, continued its strong trajectory, posting an 11.3% year-on-year rise in net profit to ₹7,629 crore. Jio added 8.9 million new subscribers, bringing its total subscriber base to 515.3 million. The 5G user base surpassed 250 million, while the fixed broadband network grew to over 25 million connects. Average Revenue Per User (ARPU) improved to ₹213.7.

O2C and Retail Performance

The O2C segment demonstrated considerable strength with a 14.6% year-on-year EBITDA growth to ₹16,507 crore, buoyed by strong fuel crack spreads. The retail business reported an 8.1% year-on-year increase in gross revenue to ₹97,605 crore, though EBITDA growth was more subdued at 1.3% year-on-year. Quick commerce orders saw a substantial 4.6x year-on-year jump.

Financial Strength

Reliance Industries' chairman and managing director, Mukesh Ambani, highlighted the company's consistent financial delivery and operational resilience. He noted the deepening roots of Jio's digital ecosystem in Indian households and praised the synergistic value of its connectivity and media platforms. The company's robust cash flows and balance sheet strength have been recognized by international rating agencies, with its foreign currency debt now rated 'A-' by S&P Global Ratings.

Reliance Industries' stock closed 0.15% higher at ₹1,461 on Friday ahead of the results. Over the past year, the stock has appreciated by over 15%, outperforming the benchmark Nifty 50 index.

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