Reliance Industries Ltd (RIL) reported a 22.4% year-on-year decline in consolidated net profit for the first quarter of FY27, with earnings falling to ₹20,946 crore from ₹26,994 crore in the corresponding quarter last year. The decline, however, was primarily on account of the absence of a large one-time gain booked in the year-ago period.
The June quarter of FY26 had included an exceptional gain of ₹8,924 crore arising from the sale of Reliance’s stake in Asian Paints. Excluding this non-recurring income, the company’s underlying operational performance remained robust, supported by healthy contributions from its oil-to-chemicals (O2C), digital services, retail and upstream oil and gas businesses.
Revenue crosses ₹3.11 lakh crore
Reliance posted consolidated revenue of ₹3,11,850 crore for the quarter ended June 30, 2026, compared with ₹2,48,660 crore in the same period a year earlier, reflecting broad-based growth across its businesses.
Consolidated EBITDA increased 10.1% year-on-year to ₹54,067 crore, highlighting sustained operational strength despite global macroeconomic uncertainties and volatile commodity markets.
Jio continues growth momentum
Reliance Jio Platforms Ltd (JPL) reported a 12% increase in revenue, driven by continued subscriber additions, higher average revenue per user (ARPU) and sustained demand for digital services.
The telecom and digital services business maintained strong momentum across mobility, home broadband and enterprise offerings, reinforcing its position as the country’s leading digital platform.
Retail business delivers steady growth
Reliance Retail Ventures Ltd (RRVL) recorded 7.4% year-on-year revenue growth, with revenue reaching ₹90,408 crore during the quarter.
Growth was led by strong consumer demand across product categories and the continued expansion of the company’s digital commerce platforms. Adjusted for the demerger of Reliance Consumer Products Ltd (RCPL), gross revenue grew 11.6% year-on-year.
O2C and upstream businesses remain resilient
Revenue from the Oil-to-Chemicals (O2C) business surged 30.4% year-on-year, largely reflecting higher crude oil prices, although gains were partly offset by lower production available for sale.
The oil and gas segment reported 3.2% revenue growth, aided by improved realisations from KG-D6 crude oil and condensate production, favourable currency movements, and increased coal bed methane (CBM) gas production. Lower KG-D6 gas production and weaker gas price realisations partially offset these gains.
Capital expenditure remains strong
Reliance invested ₹38,682 crore (around $4.1 billion) during the quarter as it continued to expand its businesses.
The company said investments remained focused on ongoing projects in the O2C and new energy segments while also strengthening infrastructure and expanding the reach of its retail and digital consumer businesses.
Ambani highlights business resilience
Reliance Industries Ltd Chairman and Managing Director Mukesh D Ambani said the company had made a steady start to FY27 despite geopolitical uncertainties and commodity market volatility.
He said Reliance’s diversified business portfolio continued to demonstrate resilience, with all major businesses delivering healthy operating performance. Ambani noted that Jio maintained strong momentum across mobility, home broadband and enterprise services, resulting in a 15% year-on-year increase in earnings.
He also highlighted that Jio Platforms Ltd had filed its Draft Red Herring Prospectus (DRHP) with SEBI during the quarter, marking a significant milestone towards its proposed initial public offering (IPO). According to Ambani, the listing would provide investors an opportunity to participate in India’s expanding digital economy.
On the retail business, Ambani said Reliance Retail continued to deliver resilient performance across consumption formats and channels, adding that its omnichannel network remains well positioned to benefit from India’s long-term consumption-led growth trajectory.