Anil Ambani-led Reliance Infrastructure turned profitable this quarter. In its first-quarter earnings for FY26, the company reported a consolidated net profit of Rs 59.84 crore, compared to a loss of Rs 233.74 crore in the same quarter last year. The company’s revenue from operations stood at Rs 5,907.82 crore, down 17.87 per cent from Rs 7,192.83 crore in Q1FY25.
The share price of Reliance Infrastructure has been facing significant pressure, especially after the Enforcement Directorate (ED) raided multiple premises linked to the Anil Ambani group as part of a Rs 3,000‑crore money‑laundering probe. The stock fell sharply by 5 per cent and hit the lower circuit limit at ₹342.05 on Friday and closed flat at that price. On Monday, the first trading day after the company announced its Q1FY26 results, the stock opened in the green, rising 2.32 per cent. However, it continues to experience significant fluctuations.
Here are key takeaways from the Q1FY26
1. Expenses drop nearly Rs 330 crore year-on-year
Despite the dip in revenue, the company managed to post a profit primarily due to a significant reduction in expenses and regulatory income. Total expenses in Q1FY26 were Rs 6,469.81 crore, compared to Rs 6,799.30 crore in Q1FY25 — a drop of 4.85 per cent, about Rs 329.49 crore.
2. Power segment continues to lead revenue growth
The power segment remained RInfra’s key revenue driver, followed by the infrastructure and engineering & construction arms. The company reported a profit of over Rs 1,039 crore from its power vertical, showing steady performance.
However, the engineering and construction segment posted a loss of Rs 11.57 crore, while the infrastructure business earned Rs 32.18 crore.
3. Reliance Infra raises stake in Reliance Power to 24.90 per cent
During the quarter, Reliance Infra increased its holding in Reliance Power to 24.90 per cent by converting 9.88 crore warrants into equity shares. It also allotted 1.25 crore equity shares to a promoter group company as part of a preferential issue.
4. Assets and liabilities
The company’s total assets increased to Rs 67,445.74 crore, while total liabilities stood at Rs 52,334.76 crore. Of this, assets related to the power business made up the largest share at Rs 42,937.79 crore.
RInfra also held non-current assets for sale worth Rs 1,363.86 crore, a slight rise from the previous quarter.
5. Company to issue 10-year FCCBs at 5 per cent coupon rate
The board of the company has approved a proposal to raise USD 350 million through 10-year Foreign Currency Convertible Bonds (FCCBs) at a coupon rate of 5 per cent.
Meanwhile, the Maharashtra Industrial Development Corporation (MIDC) has resumed possession of five airport projects run by the company’s step-down subsidiaries, citing deficiencies in their operation. The company has contested the move and is exploring legal options.