Mumbai, July 17: Reliance Industries Limited (RIL), led by billionaire Mukesh Ambani, has reported impressive business performance for the first quarter of the fiscal year 2026-27. The company’s consolidated revenue surged by 25% year-on-year, reaching ₹3.11 lakh crore. This growth was driven by strong double-digit increases in its oil-to-chemicals (O2C), retail, and digital services sectors.
However, the consolidated net profit saw a decline of 22% year-on-year, amounting to ₹20,946 crore. This drop is primarily attributed to the absence of a one-time gain from the sale of its stake in Asian Paints, which had significantly boosted profits in the same quarter last year.
In the first quarter of the previous fiscal year 2025-26, the sale of the Asian Paints stake had resulted in a net profit of ₹26,994 crore.
According to the company’s statement, EBITDA for the quarter increased by 10% year-on-year to ₹54,067 crore.
RIL’s performance exceeded market expectations, largely due to robust growth in its O2C business, Reliance Retail, and the digital platform Jio.
Mukesh Ambani, Chairman of Reliance Industries, stated, “Reliance has made a strong start to the fiscal year 2026-27. All our businesses have demonstrated excellent operational performance. Despite ongoing geopolitical tensions and fluctuations in commodity markets, our diversified business portfolio has once again proven its resilience.”
He noted that the digital services segment maintained its strong growth momentum this quarter. Jio excelled in mobility, home broadband, and enterprise services, leading to a 15% year-on-year increase in revenue. During the quarter, Jio Platforms Limited submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI), marking a significant step towards a potential IPO.
Ambani also highlighted that Reliance Retail recorded strong growth due to consistent performance across all consumer categories and sales channels.
The company’s fast-moving consumer goods (FMCG) sector is also expanding rapidly. Brands under Reliance Consumer Products Limited (RCPL) are gaining popularity among Indian consumers, with revenue more than doubling compared to the previous year.
Ambani remarked, “The O2C business performed strongly this quarter, supported by record margins in middle distillates and improved performance in downstream petrochemicals. Despite challenges in the global energy market’s supply chain, our teams demonstrated operational agility, ensuring sufficient availability of essential fuels and other materials in the domestic market.”
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