Mukesh Ambani-led Reliance Industries has reported a robust 78.32 per cent rise in consolidated net profit for the first quarter, reaching Rs 26,994 crore.The Chairman, in his note to shareholders, reiterated that the “business will be doubling ever 4-5 years,”

The company’s other income for the quarter stood at Rs 15,119 crore, significantly higher than Rs 3,983 crore in Q1FY25. A major portion of this gain—Rs 8,924 crore—came from the sale of its stake in Asian Paints. Excluding the proceeds from this stake sale and other listed investments, EBITDA for the quarter rose 15 per cent year-on-year (Y-o-Y), while Profit After Tax (PAT) increased by 25 per cent Y-o-Y.

Revenue from operations stood at Rs 2,48,660 crore, marking a 5.27 per cent rise from Rs 2,36,217 crore in the same period last year. Total income, including other income, came in at Rs 2,63,779 crore.

5 Key takeaways from the first quarter results

1. Reliance Retail Venture: Gross revenue grows 11.3 per cent YoY to Rs 84,171 crore

Reliance Retail Venture reported 11.3 per cent year-on-year rise in gross revenue to Rs 84,171 crore. EBITDA stood at Rs 6,381 crore, marking a 12.7 per cent YoY growth, and maintained its industry-leading EBITDA margin of 8.7 per cent. 

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The company added 388 new stores during the quarter, expanding its retail footprint to 19,592 stores across 77.6 million sq. ft., while the registered customer base grew to 358 million.

Isha M Ambani, Executive Director of Reliance Retail Ventures, said, “Reliance Retail delivered resilient performance during this quarter driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility.”

2. Jio Platforms revenue grows 18.8 per cent YoY; Jio 5G user base crosses 200 million

    Jio crossed 200 million subscribers in its 5G user base and its home broadband connections surpasses 20 million. The company’s Fixed Wireless Access service, JioAirFiber, has become the largest FWA service globally, driven by its proprietary UBR technology that enables ~1 million monthly home connections. The subscriber base reached 498 million, with a strong net addition of 9.9 million during the quarter, while ARPU improved to Rs 208.8.

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    Jio Platforms posted an 18.8 per cent year-on-year rise in its revenue at Rs 41,054 crore and EBITDA jumping 23.9 per cent YoY to Rs 18,135 crore. The EBITDA margin expanded by 210 basis points to 51.8 per cent, led by operational efficiencies and strong growth across mobility, broadband, and enterprise services. Data traffic surged 24 per cent YoY to 54.7 billion GB, while voice traffic rose to 1.49 trillion minutes.

    Akash M Ambani, Chairman of Reliance Jio Infocomm, said, “Jio continues to bring next generation services for its users with the launch of JioGames Cloud and JioPC bundle at affordable prices to drive adoption of digital services in India. Jio continues to create unparalleled technology infrastructure and is extending its leadership in 5G and fixed broadband. This will be pivotal in driving AI adoption in the country”. 

    3. Oil-to-Chemicals EBITDA rises 10.8 per cent YoY to Rs 14,511 crore

    Reliance’s O2C segment delivered a rise in EBITDA of 10.8 per cent year-on-year to Rs 14,511 crore despite revenue declining 1.5 per cent YoY to Rs 1,54,804 crore. The release highlights that drop in revenue was primarily due to lower crude oil prices and planned maintenance shutdowns. However, EBITDA margin improved to 9.4 per cent, supported by favourable margins on domestic fuel retail and improvements in transportation fuel cracks and polymer deltas.

    4. Reliance oil and GAS: Revenue declines 1.2 per cent YoY to Rs 6,103 crore

      Reliance’s Oil & Gas segment reported a modest decline in revenue and profitability in Q1FY26, with revenue falling 1.2 per cent year-on-year to Rs 6,103 crore and EBITDA decreasing 4.1 per cent to Rs 4,996 crore. The drop was primarily due to lower sales volume of KG-D6 gas, in line with the natural decline in production, and lower gas price realisation for CBM (Coal Bed Methane) and crude. However, the average price realised for KG-D6 gas improved to $9.97/MMBTU, compared to $9.27/MMBTU in the same quarter last year.

      The segment maintained a high EBITDA margin of 81.9 per cent, despite increased operating costs resulting from higher maintenance activity.

      JioMart Quick sees sharp rise; AJIO expands with faster delivery

        Other key highlights includes: JioMart Quick hyper-local daily orders grew 175 per cent YoY and 68 per cent QoQ, expanding to 4,290 pin codes. JioHotstar delivered the biggest ever IPL, with over 652 million digital viewers and a peak concurrency of 55.2 million. The fashion and lifestyle segment saw robust growth, driven by new formats like GAP, Azorte, and Yousta, which collectively grew 59 per cent YoY. AJIO continued to scale, launching AJIO Rush, a 4-hour delivery service now live in six cities, and expanded its catalogue to 2.6 million options, up 44 per cent YoY.

        There has been no announcement of the much anticipated Reliance Retail Venture or Jio Platforms IPO.