Mumbai: Reliance Industries Ltd reported a 14.3% rise in quarterly net profit, reaching ₹22,092 crore (pre-minority interest), supported by stronger refining margins and steady growth in its retail and digital services segments.

Consolidated revenue rose 10% year-on-year to ₹2.84 lakh crore, driven primarily by consumer-facing businesses. Consolidated EBITDA increased 14.6% to ₹50,367 crore, led by growth in Oil-to-Chemicals (O2C), retail, and digital services. Profit before tax rose 16.3% to ₹29,124 crore.

Capital expenditure for the quarter was ₹40,010 crore, fully financed by internal cash flows, with cash profit at ₹40,778 crore. Net debt remained largely unchanged at ₹1.19 lakh crore as of September 30, compared to ₹1.18 lakh crore on June 30.

The company also announced that Jio has achieved a significant milestone, with its subscriber base crossing the 500 million mark. The total subscriber base currently stands at 506 million.

Jio Platforms (JPL) saw its revenue increase by 14.9% year-on-year, led by industry-leading subscriber growth across mobility and home services, sustained improvement in ARPU, and continued ramp-up in digital service offerings. JPL EBITDA increased 17.7% YoY, primarily driven by revenue growth and a 140-bps margin expansion.

Meanwhile, Oil-to-Chemicals (O2C) revenue increased 3.2% YoY, with production meant for sale rising 2.3% year-on-year. The company’s fuel retailing operations through Jio-bp further expanded domestic placement of transportation fuels, achieving volume growth of 34% for HSD and 32% for MS.

However, the Oil & Gas segment revenue decreased 2.6% YoY, mainly due to the natural decline in production at KGD6 and lower condensate price realization. This was partly offset by improved KGD6 gas price realization and higher CBM volumes.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said, “Reliance delivered a robust performance during 2QFY26 led by strong contribution from O2C, Jio and Retail businesses. Consolidated EBITDA registered 14.6% growth on a Y-o-Y basis, reflecting agile business operations, domestic focused portfolio and structural growth in Indian economy.

Digital services business continues to scale-up with positive momentum in subscriber addition across homes and mobility services, driven by Jio’s network and technology leadership. Jio’s innovative radio solutions and ubiquitous stand-alone 5G network have enabled it to provide broadband connectivity to households across India. We continue to augment our capabilities with pioneering systems and platforms, ensuring the benefits of ever-evolving technology landscape for all Indians,” he added.

“I am happy to highlight the growth momentum of our Retail business. All formats registered higher volume, propelling strong growth in both revenue and EBITDA. There has also been a sustained pick-up in our quick hyperlocal delivery model. The recently announced progressive reforms in GST regime provide a boost to continuing consumption-led growth,” the RIL CMD added.

“I am happy with the progress we are making in our new growth engines-new energy, media and consumer brands. I believe these businesses will build on Reliance’s legacy of creating industry leaders, focused on technology and innovation to provide Indian consumers the right products and services at the right price.Our initiatives in the Al domain are aimed at ensuring Reliance stays at the forefront of evolving technologies and leverage these capabilities for the benefit of India and Indians,” he further said. DeshGujarat