Reliance industries Q3 FY26 results: Revenue rises 10% on digital, oil-to-chemicals growth

Reliance Industries Ltd reported a resilient efficiency within the fiscal third quarter, with consolidated income rising 10 p.c from a 12 months earlier to Rs 2.94 lakh crore, led by progress in its digital companies, oil-to-chemicals (O2C) and retail companies.

Web revenue (pre minority) for the fiscal third quarter rose 1.6 p.c from a 12 months earlier to Rs 22,290 crore, whereas revenue earlier than tax elevated 3.7 p.c to Rs 29,697 crore.

Consolidated EBITDA rose 6.1 p.c to Rs 50,932 crore, supported by earnings progress within the digital companies and O2C segments, serving to offset weak spot within the upstream oil and gasoline enterprise.

“Reliance’s consolidated efficiency in 3Q FY26 displays constant monetary supply and operational resilience throughout companies,” mentioned Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, in a press release on Friday.

The O2C enterprise benefited from a pointy improve in transportation gas cracks, which rose 62-106 p.c from a 12 months earlier in the course of the third quarter. This enchancment was partly offset by decrease downstream chemical margins and better feedstock freight charges. General, O2C EBITDA rose 15 p.c from a 12 months earlier to Rs 16,507 crore, helped by larger volumes and a continued ramp-up in gas retail operations.

The Jio-bp gas retailing enterprise maintained its progress momentum, with gas volumes rising 24 p.c, supported by sturdy progress in gasoline and high-speed diesel gross sales. The retail community expanded additional, with Jio-bp working 2,125 retailers on the finish of December, a 14 p.c improve from a 12 months earlier.

“Sturdy progress in O2C enterprise was led by considerably larger gas margins with favorable demand-supply dynamics, together with operational flexibility. I’m completely satisfied to spotlight the sturdy progress in our gas retailing enterprise, with persevering with growth of the Jio-bp community,” Ambani added.

The digital companies enterprise delivered sturdy progress, with income rising 12.7 p.c to Rs 43,683 crore. EBITDA from the section grew 16.4 p.c YoY to Rs 19,303 crore, aided by accelerated subscriber additions and a 170-basis-point growth in margins.

Reliance Jio’s subscriber base elevated to 515.3 million, with its 5G person base crossing 250 million in the course of the quarter. Whole house connects crossed 25 million, whereas JioAirFiber grew to become the primary mounted wi-fi entry service globally to surpass 10 million subscribers, ending the quarter with 11.5 million customers. Common income per person (ARPU) rose 5.1 p.c from a 12 months earlier to Rs 213.7.

“This quarter, Jio expanded its subscriber base additional, by engaging propositions enabled by its complete, indigenous expertise stack tailor-made for Indian markets. The enterprise delivered a strong monetary efficiency with 16.4% progress in EBITDA,” mentioned Ambani.

JioStar continued to report sturdy operational efficiency, sustaining management throughout key platforms and genres.

In distinction, the oil and gasoline enterprise weighed on general efficiency, affected by decrease manufacturing from the KGD6 block on account of pure decline within the reservoir and weaker value realisations, together with larger working prices associated to periodic upkeep exercise. EBITDA declined 13 p.c from a 12 months earlier to Rs 4,857 crore. Income from the section fell 8.4 p.c to Rs 5,833 crore.

The retail enterprise posted income of Rs 97,605 crore, a rise of 8.1 p.c from a 12 months earlier. Development, nevertheless, was impacted by the distribution of festive demand between the September and December quarters, the demerger of Reliance Client Merchandise Ltd, and GST price rationalisation. Regardless of these, retail EBITDA rose to Rs 6,915 crore. Throughout the quarter, Reliance Retail operated 19,979 shops, with a complete operational space of 78.1 million sq ft, whereas hyper-local supply operations noticed a close to fivefold soar in common each day orders.

“Our Retail enterprise additionally had an eventful quarter, strengthening its portfolio with the onboarding of contemporary new manufacturers and product ranges. The demerger of shopper merchandise enterprise got here into impact this quarter. With a broad and various product basket starting from basic Indian manufacturers to new age labels, the patron merchandise vertical is progressing on its accelerated progress trajectory with a targeted organizational construction,” mentioned Ambani.

Throughout the quarter, capital expenditure stood at Rs 33,826 crore, which was totally coated by money income of Rs 41,303 crore. Web debt declined sequentially to Rs 1.17 lakh crore as of December 31, reflecting steadiness sheet stability.