Reliance Industries Q2FY26 Results: Consolidated Net Profit Increases 14.3% YoY to ₹22,092 Crore; Stock Up 3%

Mumbai, October 20, 2025 – The share price of  Reliance Industries Ltd (NSE: RELIANCE, BSE: 500325) surged 3% after it posted a good Q2FY26 set of numbers, with consolidated net profit up 14.3% year-on-year at ₹22,092 crore. The growth was fueled by across-the-board performance in Oil-to-Chemicals (O2C), Jio Platforms, and Retail businesses. Consolidated EBITDA was up 14.6% YoY at ₹50,367 crore, capturing consistent operating strength across core sectors.

Consolidated Financial Highlights

Reliance clocked gross revenue of ₹2,83,548 crore in Q2FY26, 9.9% higher than ₹2,58,027 crore in Q2FY25. EBITDA was up at ₹50,367 crore and net profit at ₹22,092 crore. Capex during the quarter was ₹40,010 crore, while it stood at ₹34,022 crore in Q2FY25.

Key Business Drivers

The performance of the company was supplemented by strong growth in Jio Platforms, Retail, and O2C businesses. Jio Platforms’ EBITDA increased 17.7% YoY to ₹18,757 crore on account of increased ARPU and growth in 5G customers. Retail EBITDA increased 16.5% YoY to ₹6,816 crore on account of festive season demand and new store additions. O2C EBITDA increased 20.9% YoY to ₹15,008 crore on account of improved fuel margins and increased throughput. Oil & Gas EBITDA decreased 5.4% YoY to ₹5,002 crore on account of natural decline in KGD6 production.

Segment-Wise Performance

In Jio Platforms, top-line reached ₹42,652 crore, growing 14.9% YoY, with 506 million subscribers, including 234 million 5G subscribers. ARPU was up at ₹211.4, and data traffic grew 29.8% YoY to 58.4 billion GB. Akash Ambani pointed out that the deep-tech efforts of the company are still at the core of India’s growth digitally.

Reliance Retail Ventures recorded revenue of ₹90,018 crore, which grew 18% YoY, and EBITDA of ₹6,816 crore. The group opened 412 new stores, aggregating to 19,821, serving a customer base of 369 million. Isha Ambani observed that investment in digital platforms and operational excellence fueled retail momentum.

Oil-to-Chemicals (O2C) revenue went up to ₹1,60,558 crore, with EBITDA growing 20.9% YoY to ₹15,008 crore. Fuel retail volumes expanded 34% for diesel and 32% for petrol. Polymer margins firmed up, and polyester chain margins reduced because of weak textile demand.

Oil & Gas (Exploration & Production) reported ₹6,058 crore revenue down 2.6% YoY and EBITDA of ₹5,002 crore. Production in KGD6 was 26.1 MMSCMD of gas and 18,746 barrels per day of oil-condensate.

JioStar (Media & Entertainment) reported revenue of ₹7,232 crore and EBITDA of ₹1,738 crore with a margin of 28.1%. JioHotstar saw 400 million MAUs, with the India–England Test series being the most watched digital Test series at 170 million viewers.

Management Commentary

Mukesh Ambani said Reliance posted a strong performance driven by solid performances in O2C, Jio, and Retail. He reconfirmed sustained investments in new energy, media, and consumer businesses in areas of AI and new technologies for the benefit of all Indians.

Market Snapshot

As of 12:23 PM IST on October 20, the stock is trading at ₹1,464.80, up ₹48.00 or 3.39%, and a market capitalization of ₹19.71 lakh crore. Its 52-week range is ₹1,114.85 to ₹1,551.00.

About Reliance Industries Ltd

Founded in 1973, Reliance Industries is India’s largest private sector company that serves the energy, petrochemicals, retail, digital services, and new energy sectors. Its shares are listed on the NSE and BSE and are included in the NIFTY 50 index.

REF: https://nsearchives.nseindia.com/corporate/kavinavora_17102025190605_SE_MR.pdf

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