Mukesh Ambani-led Reliance Industries (RIL) has posted a 9.6% year-on-year rise in net profit for the second quarter ending September 30, driven by strong performance in its consumer-facing retail and telecom businesses and a recovery in its core oil-to-chemicals segment. Revenue for the quarter also increased 9.94% at Rs 258,898 crore from Rs 235,481 crore in Q2FY25.
Commenting on the results, the chairman and managing director of Reliance Industries said, “Reliance delivered a robust performance during 2QFY26 led by strong contributions from O2C, Jio and Retail businesses. Consolidated EBITDA registered 14.6% growth on a YoY basis, reflecting agile business operations, a domestic-focused portfolio, and structural growth in the Indian economy.”
Here are 5 key takeaways from Q2FY26.
1. Reliance Retail’s Q2 profit surges 22% on festive buying, GST cut impact
The retail arm of Reliance Industries, Reliance Retail, saw gross revenue rise 18% to Rs 90,018 cr in Q2. While its profit after tax went up 21.9%t to Rs 3,457 crore in the September quarter of FY26, led by festive buying and increase in operational efficiencies of stores.
“Grocery and fashion & lifestyle businesses grew 23 per cent and 22 per cent Y-o-Y, respectively, led by festive buying. Consumer electronics delivered 18 per cent Y-o-Y growth aided by GST rate reduction and new launches,” highlighted a media release by the company.
By the end of the September quarter, Reliance Retail had 19,821 stores, operating retail operations on 77.8 million sq. ft area.
2. Jio Profit up 12.8% YoY to Rs 7,379 crore as ARPU and JioAirFiber soar
Jio Platforms’ net profit jumps 12.8% year-on-year to Rs 7,379 crore on higher average revenue per user (ARPU) and higher traction in fixed wireless access service, JioAirFiber. ARPU increased by 8.4% to Rs 211.4 crore during the reported quarter from Rs 195.1 crore a year ago. Jio subscriber base reached 506 million.
The revenue from operations of Jio Platforms rose 14.6% to Rs 36,332 crore in the second quarter of FY26 compared to Rs 31,709 crore in the year-ago period.
Jio added over 10 lakh new homes each month, taking the total connected premises to about 2.3 crore with fixed broadband. JioAirFiber reported a subscriber base of 95 lakh, with the speed of connecting over 10 lakh new homes every month.
3. Oil-to-chemicals segment
Oil-to-chemical business, which houses the company’s twin refineries at Jamnagar in Gujarat and petrochemical plants, saw EBITDA rise 21% to Rs 15,008 crore in Q2. It was up sequentially as well due to transportation fuel cracks—gasoline, gasoil, and jet fuel, which helped improve refining margins. Margins rose between 22–37% YoY. It also recorded the highest quarterly refining throughput of 20.8 million tonnes. The segment reported revenue of Rs 1,60,558 crore, up 3.2% year-on-year.
4. Oil to Gas segment
In the fuel retail business, Jio-bp—its joint venture with BP of the UK—saw diesel and petrol sales rise by 30% during the quarter, and its retail network crossed 2,000 outlets, the statement said.
Lower gas output from the KG-D6 fields led to a 5.4 per cent decline in the pre-tax profit of its oil and gas business, to Rs 5,002 crore in Q2.
“The average KGD6 production for the 2Q is 26.1 million standard cubic metres per day of gas and 18,746 barrels a day of oil,” it said.
5. Reliance Industries on AI
Reliance Industries had previously launched the company’s dedicated artificial intelligence arm. In this quarter Reliance announced the launch of JioFrames in the market. JioFrames is Reliance Jio’s latest step into the wearable tech space. The smart glasses are powered entirely by Jio’s in-house AI ecosystem, from hardware to operating system.
Reliance chairman and managing director Mukesh Ambani said, “Our initiatives in the AI domain are aimed at ensuring Reliance stays at the forefront of evolving technologies and leverages these capabilities for the benefit of India and Indians.”
