Energy-to-retail conglomerate Reliance Industries (RIL) on Friday posted its June quarter earnings where the company reported several key milestones, including its highest ever consolidated quarterly operating profit and net profit. Its telecom business surpassed 200 million 5G subscribers while the retail business delivered a double-digit EBITDA and industry leading EBITDA margin.
Here are key takeaways from its Q1 earnings:
1) Highest ever quarterly PAT
Mukesh Ambani-led RIL reported a 78% year-on-year increase in its Q1FY26 consolidated net profit to Rs 26,994 crore, compared to Rs 15,138 crore in the year-ago period. The profit, attributable to the owners of the company, exceeded Street estimates of Rs 22,069 crore. The profit after tax (PAT) grew 39% on a sequential basis versus Rs 19,407 crore in Q4FY25.
The surge in profit was primarily driven by one-time gain of Rs 8,924 crore from the sale of RIL's stake in Asian Paints.
Also Read: Reliance Industries Q1 Results: Cons PAT jumps 78% YoY to Rs 26,994 cr, beats Street estimates
2) Revenue rise
The company's revenue from operations rose 5.3% to Rs 2,48,660 crore versus Rs 2,36,217 crore in the year ago period. Its gross revenue stood at Rs 2,73,252 crore in the quarter under review. It was up 6% on a YoY basis.
3) Operating Profit
The company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 58,024 crore rising by 36% over Rs 42,748 crore reported in the year ago period. Meanwhile, the EBITDA margin in the reported quarter stood at 21.2% rising by 460 bps on a YoY basis.
4) Net debt
RIL's net debt as on June 30, 2025 stood at Rs 1,17,581 crore versus Rs 1,17,083 crore in Q4FY25 and Rs 1,12,341 crore in Q1FY25.
5) Jio Platforms Q1 stats
Reliance Jio, the telecom and digital arm of Reliance Industries reported a 25% YoY growth in its net profit at Rs 7,110 crore for the first quarter. While revenue from operations grew 19% YoY and stood at Rs 41,054 crore in the same period. The EBITDA Jumped 24% YoY to Rs 18,135 crore while EBITDA margin stood at 51.8%, rising 210 bps YoY.
The Average Revenue Per User (ARPU) stood at Rs 208.8, up 15% YoY. JioTrue5G user base crossed the 200 million milestone during the quarter and now stands at 213 million as of June 2025.
During the quarter, Jio reached the milestone of ~20 million connected premises with fixed broadband.
Read more: Reliance Jio Q1 Results: PAT grows 25% YoY to Rs 7,110 crore; ARPU at Rs 208.8
6) Reliance Retail Ventures Q1 figures
Reliance Retail Ventures (RRVL) reported a 28% YoY growth in its net profit at Rs 3,271 crore for the first quarter. While revenue from operations grew 11% YoY and stood at Rs 73,720 crore in the same period.
EBITDA stood at Rs 6,381 crore, growing by 13% YoY while EBITDA margin was reported at 8.7%, recording a 20 bps uptick.
The business expanded its store network with 388 new store openings taking the total store count to 19,592 with area under operation at 77.6 million square feet. The registered customer base grew to 358 million. JioMart expanded quick hyper local deliveries registering 68% QoQ growth and 175% YoY growth of daily orders.
7) Oil to Chemicals (O2C) segment
Segment revenue for 1QFY26 is lower by 1.5% YoY to Rs 154,804 crore ($ 18.1 billion) due to fall in crude oil prices and lower volumes on account of planned shutdown. Revenues were supported by higher domestic placement of transportation fuels through the Jio-bp network.
Segment EBITDA for 1QFY26 increased by 10.8% YoY to Rs 14,511 crore ($ 1.7 billion) due to favourable margins on domestic fuel retail, improvements in transportation fuel cracks as well as PP & PVC deltas. This was partially offset by lower volumes due to planned turnaround, and decline in polyester chain margins.
Read More: Reliance Retail Q1 Results: PAT rises 28% YoY to Rs 3,271 crore, revenue up 11%
8) Jio-bp update
Reliance BP Mobility Limited (RBML) operating under brand Jio-bp, operates a country-wide network of 1,991 outlets versus 1,730 in 1QFY25. RBML quarterly sales for HSD (High Speed Diesel) grew at 34.2% and MS grew at 38.6% on YoY basis as against industry sales volume growth rate of (1.3%) for HSD and 7.1% for MS. RBML continued its robust sales clocking 172 TKL in 1QFY26 despite multiple disruptions during the quarter.
9) Oil & Gas exploration and production business
1QFY26 revenue is lower by 1.2% YoY mainly on account of lower sales volume of KGD6 gas in line with natural decline in production. Revenue was also impacted by lower gas price for CBM gas and lower crude price realisation. This was partly offset by higher KGD6 gas price. The average price realised for KGD6 gas was $ 9.97/MMBTU in 1Q FY26 vis-à-vis $ 9.27/MMBTU in 1QFY25. The average price realised for CBM gas was lower at $9.90/MMBTU in 1Q FY26 vis-à-vis $11.59/MMBTU in 1Q FY25.
EBITDA declined 4.1% to Rs 4,996 crore on YoY basis on account of lower revenues coupled with higher operating costs due to maintenance activity.
10) Management commentary
Commenting on the results, Chairman & Managing Director Mukesh Ambani said that RIL has started FY26 with a robust, all-round operational and financial performance. Consolidated EBITDA for 1QFY26 improved strongly from the year-ago period, despite significant volatility in global macros, he said.
"During the quarter, energy markets encountered heightened uncertainty, with sharp fluctuations in crude prices. Our O2C business delivered strong growth, with thrust on domestic demand fulfillment and offering value-added solutions through Jio-bp network. Performance was supported by improvement in fuel and downstream product margins. Natural decline in KGD6 gas production resulted in marginally lower EBITDA for the Oil & Gas segment," Ambani said.
On the retail business, the CMD said that RIL's retail business continues to enhance its ability to fulfill everyday as well as specialized needs of all customer cohorts, through a multi-channel approach.
As for Jio, he said that the business scaled newer heights during the quarter including crossing 200 million 5G subscribers and 20 million home connections.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
Here are key takeaways from its Q1 earnings:
1) Highest ever quarterly PAT
Mukesh Ambani-led RIL reported a 78% year-on-year increase in its Q1FY26 consolidated net profit to Rs 26,994 crore, compared to Rs 15,138 crore in the year-ago period. The profit, attributable to the owners of the company, exceeded Street estimates of Rs 22,069 crore. The profit after tax (PAT) grew 39% on a sequential basis versus Rs 19,407 crore in Q4FY25.
The surge in profit was primarily driven by one-time gain of Rs 8,924 crore from the sale of RIL's stake in Asian Paints.
Also Read: Reliance Industries Q1 Results: Cons PAT jumps 78% YoY to Rs 26,994 cr, beats Street estimates
2) Revenue rise
The company's revenue from operations rose 5.3% to Rs 2,48,660 crore versus Rs 2,36,217 crore in the year ago period. Its gross revenue stood at Rs 2,73,252 crore in the quarter under review. It was up 6% on a YoY basis.
3) Operating Profit
The company's Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 58,024 crore rising by 36% over Rs 42,748 crore reported in the year ago period. Meanwhile, the EBITDA margin in the reported quarter stood at 21.2% rising by 460 bps on a YoY basis.
4) Net debt
RIL's net debt as on June 30, 2025 stood at Rs 1,17,581 crore versus Rs 1,17,083 crore in Q4FY25 and Rs 1,12,341 crore in Q1FY25.
5) Jio Platforms Q1 stats
Reliance Jio, the telecom and digital arm of Reliance Industries reported a 25% YoY growth in its net profit at Rs 7,110 crore for the first quarter. While revenue from operations grew 19% YoY and stood at Rs 41,054 crore in the same period. The EBITDA Jumped 24% YoY to Rs 18,135 crore while EBITDA margin stood at 51.8%, rising 210 bps YoY.
The Average Revenue Per User (ARPU) stood at Rs 208.8, up 15% YoY. JioTrue5G user base crossed the 200 million milestone during the quarter and now stands at 213 million as of June 2025.
During the quarter, Jio reached the milestone of ~20 million connected premises with fixed broadband.
Read more: Reliance Jio Q1 Results: PAT grows 25% YoY to Rs 7,110 crore; ARPU at Rs 208.8
6) Reliance Retail Ventures Q1 figures
Reliance Retail Ventures (RRVL) reported a 28% YoY growth in its net profit at Rs 3,271 crore for the first quarter. While revenue from operations grew 11% YoY and stood at Rs 73,720 crore in the same period.
EBITDA stood at Rs 6,381 crore, growing by 13% YoY while EBITDA margin was reported at 8.7%, recording a 20 bps uptick.
The business expanded its store network with 388 new store openings taking the total store count to 19,592 with area under operation at 77.6 million square feet. The registered customer base grew to 358 million. JioMart expanded quick hyper local deliveries registering 68% QoQ growth and 175% YoY growth of daily orders.
7) Oil to Chemicals (O2C) segment
Segment revenue for 1QFY26 is lower by 1.5% YoY to Rs 154,804 crore ($ 18.1 billion) due to fall in crude oil prices and lower volumes on account of planned shutdown. Revenues were supported by higher domestic placement of transportation fuels through the Jio-bp network.
Segment EBITDA for 1QFY26 increased by 10.8% YoY to Rs 14,511 crore ($ 1.7 billion) due to favourable margins on domestic fuel retail, improvements in transportation fuel cracks as well as PP & PVC deltas. This was partially offset by lower volumes due to planned turnaround, and decline in polyester chain margins.
Read More: Reliance Retail Q1 Results: PAT rises 28% YoY to Rs 3,271 crore, revenue up 11%
8) Jio-bp update
Reliance BP Mobility Limited (RBML) operating under brand Jio-bp, operates a country-wide network of 1,991 outlets versus 1,730 in 1QFY25. RBML quarterly sales for HSD (High Speed Diesel) grew at 34.2% and MS grew at 38.6% on YoY basis as against industry sales volume growth rate of (1.3%) for HSD and 7.1% for MS. RBML continued its robust sales clocking 172 TKL in 1QFY26 despite multiple disruptions during the quarter.
9) Oil & Gas exploration and production business
1QFY26 revenue is lower by 1.2% YoY mainly on account of lower sales volume of KGD6 gas in line with natural decline in production. Revenue was also impacted by lower gas price for CBM gas and lower crude price realisation. This was partly offset by higher KGD6 gas price. The average price realised for KGD6 gas was $ 9.97/MMBTU in 1Q FY26 vis-à-vis $ 9.27/MMBTU in 1QFY25. The average price realised for CBM gas was lower at $9.90/MMBTU in 1Q FY26 vis-à-vis $11.59/MMBTU in 1Q FY25.
EBITDA declined 4.1% to Rs 4,996 crore on YoY basis on account of lower revenues coupled with higher operating costs due to maintenance activity.
10) Management commentary
Commenting on the results, Chairman & Managing Director Mukesh Ambani said that RIL has started FY26 with a robust, all-round operational and financial performance. Consolidated EBITDA for 1QFY26 improved strongly from the year-ago period, despite significant volatility in global macros, he said.
"During the quarter, energy markets encountered heightened uncertainty, with sharp fluctuations in crude prices. Our O2C business delivered strong growth, with thrust on domestic demand fulfillment and offering value-added solutions through Jio-bp network. Performance was supported by improvement in fuel and downstream product margins. Natural decline in KGD6 gas production resulted in marginally lower EBITDA for the Oil & Gas segment," Ambani said.
On the retail business, the CMD said that RIL's retail business continues to enhance its ability to fulfill everyday as well as specialized needs of all customer cohorts, through a multi-channel approach.
As for Jio, he said that the business scaled newer heights during the quarter including crossing 200 million 5G subscribers and 20 million home connections.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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