Reliance Industries posted a strong all-round performance in the April-June quarter, with Jio Platforms growing by 18.8% and Reliance Retail up 11.3%, despite a dip in Oil-to-Chemicals and Oil & Gas revenues due to volatile crude prices.
Mumbai, July 19: Reliance Industries Limited (RIL) on Friday announced its financial results for the April-June quarter of FY26, reporting a consolidated gross revenue of ₹2,73,252 crore, marking a 6.0% year-on-year increase.
Jio Platforms Leads with 18.8% Growth
Jio Platforms, a subsidiary of Reliance, recorded a strong revenue growth of 18.8% driven by robust subscriber additions across both mobility and home broadband services. The company highlighted increased data consumption and continued positive momentum in its digital services business.
Retail Business Sees Double-Digit Growth
Reliance Retail Ventures also delivered impressive results, with revenue up by 11.3% year-on-year. “All segments performed well, with market-leading performance in grocery and fashion,” the company said in an official statement.
O2C Segment Impacted by Crude Oil Volatility
The Oil-to-Chemicals (O2C) segment, however, saw a 1.5% decline in revenue due to falling crude oil prices and lower volumes stemming from a planned shutdown. “Segment revenues were supported by increased domestic placement of transportation fuels through Jio-bp,” RIL noted.
Oil & Gas Revenue Decline
Revenue from the Oil and Gas segment dropped 1.2%, primarily due to lower KGD6 gas production volumes, declining gas prices for CBM, and lower crude price realizations. However, the impact was partially offset by improved price realizations for KGD6 gas.
Mukesh Ambani on Q1 Performance
Mukesh Ambani, Chairman and Managing Director of RIL, expressed confidence in the company’s performance despite global economic challenges.
“Reliance has begun FY26 with a robust, all-round operational and financial performance. Consolidated EBITDA for 1Q FY26 improved strongly from a year-ago period, despite significant volatility in global macros,” he said.
Ambani further explained, “During the quarter, energy markets encountered heightened uncertainty, with sharp fluctuations in crude prices. Our O2C business delivered strong growth, with thrust on domestic demand fulfillment and offering value-added solutions through the Jio-bp network. Performance was supported by improvement in fuel and downstream product margins. Natural decline in KGD6 gas production resulted in marginally lower EBITDA for the Oil & Gas segment.”
Retail and Digital Services Expansion
Ambani emphasized Reliance Retail’s expanding customer base, which now stands at 358 million. “We are focusing on strengthening the portfolio of our own FMCG brands, which resonate with the tastes of Indian consumers. Our Retail business continues to enhance its ability to fulfill everyday as well as specialized needs of all customer cohorts, through a multi-channel approach,” he said.
Jio also achieved significant milestones during the quarter, including surpassing 200 million 5G subscribers and 20 million home connections. “Jio AirFiber is now the largest Fixed Wireless Access (FWA) service provider in the world, with a base of 7.4 million subscribers. Our Digital Services business consolidated its market position with a robust financial and operational performance,” Ambani stated.
Media and Future Outlook
RIL’s Media business continues to grow as a comprehensive platform for entertainment, sports, and news content. “We will continue to enhance our suite of offerings across genres to cater to the discerning Indian audience,” Ambani added.
Concluding on an optimistic note, Ambani said, “Reliance is committed to contributing to India’s growth journey through inclusive development, technological innovation, and leading energy transformation. The performance of our businesses and growth initiatives gives me confidence that Reliance will continue its stellar track record of doubling every 4-5 years.”