Reliance Industries Q2 Results Highlights: Net profit rises 14% to Rs 22,092 crore, EBITDA up 15%

"We will have the largest glass factory for our PV modules in India. We are also building India's first polysilicon production unit. Battery storage gigafactory to start early next year," said Sriram Ramakrishnan from New Energy Business.

RIL is building world's only integrated solar PV manufacturing giga factory, said Sriram Ramakrishnan from New Energy Business. The firm's solar cell unit will be operational next month. "We are making good progress in readying our first battery storage factory next year. We have now commissioned 4 solar PV module lines. Next month we will begin solar cell production. We have made significant progress for a 40GWh battery storage production unit," he said.

"We are looking to produce green chemicals, sustainable aviation fuels using green hydrogen," said Sriram Ramakrishnan from New Energy Business. "With increasing electrification, the requirement for power is rising. We are looking to provide renewable power round the clock at an attractive price point than the fossil fuel," he added. "We are looking to produce green chemicals, sustainable aviation fuels using green hydrogen," he further said.

Amit Chaturvedi, President of the Petrochemicals segment, said that demand is bouncing back for polymers and polyesters after GST rationalisation. "Reliance cracker operating rate was 100% vs global cracked rate - 80% driven by domestic demand and better inventory and RM buying," he said.

"Our quick hyper-local deliveries continue to be in a strong trajectory with 42% growth on a quarter-on-quarter and 200% growth on a YOY basis in terms of average daily orders. The demand is not a concern right now in terms of availability of gas in India. We are looking at expanding in the east coast of India," said Dinesh Taluja, Chief Financial Officer, Reliance Retail.

"Electronics business had a very strong quarter. There was some impact in the time period between announcement of new GST rates and actual implementation of the cuts, there was some deferment of purchases by customers. In FMCG, Campa and Independence both brands are seeing market share gains," said Dinesh Taluja, Chief Financial Officer, Reliance Retail.

"Consumers are recycling old gold instead of investing in new gold amid higher prices," said Dinesh Taluja, Chief Financial Officer, Reliance Retail. "In gold, prices have gone up, so average bill values have gone but volumes have come down," he added. This comes amid a record bull run seen in gold prices recently.

JioMart is the fastest growing Quick Hyper-Local Commerce platform with operations across 5,000 pin codes, said Dinesh Taluja, Chief Financial Officer, Reliance Retail. "We are complementing our large stores with dark stores to reduce the last mile radius," he added.

Jio Platforms’ Senior Vice President Anshuman Thakur said that operating leverage is playing out quite well. The company said that it continues to see margin expansion in its connectivity business.

Jio Platforms’ Senior Vice President Anshuman Thakur said JioFrames is expected come to the market in next few months. The company had unveiled the AI-powered smart wearable designed to bring intelligence into everyday life earlier in August.

“JioFrames brings the power of AI into your everyday life in the most natural way possible. Intelligence will not just be in your pocket, it will be right in front of your eyes,” said Akash Ambani, Chairman of Reliance Jio Infocomm, while introducing the device at Reliance Industries’ annual general meeting in August.

"We have developed JioTeleOS. It is a set top box on your TV screen, you don't need the physical device. JioTeleOS is our own in-house operating system. All large enterprise customers are taking more than one service from us. Our focus is to get more revenue pools from enterprises beyond just connectivity. Jio Cloud is becoming popular with enterprise clients," said Jio Platforms’ Senior Vice President Anshuman Thakur.

Jio Platforms has been able to provide 1 Gbps connectivity 24 hours a day, said the firm's Senior Vice President Anshuman Thakur. "We are seeing lot of latent demand; now Air Fibre services are available pan India," he added while speaking at the post earnings management call.

Jio Platforms’ Senior Vice President Anshuman Thakur said 5G Jio customers enjoy 1.4x faster data speed than nearest competitor. "Rural sites saw 2.2x growth in 5G site traffic compared to pan India growth of 2x. We are working on bringing more devices. We have done partnerships with OEMs to bring more devices in 4G and 5G. We are driving digitization of a million homes every month," he said while speaking at the post earnings management call.

JioStar business reported a record EBITDA of Rs 1,738 crore for Q2 FY26, with an EBITDA margin of 28.1%. Profit after tax stood at Rs 1,322 crore. "The India–England Test Series became the most-watched Test series ever on a digital platform with 170 million viewers," the company said. "JioHotstar averaged approximately 400 million monthly active users during the quarter, demonstrating strong user stickiness post-IPL, led by the robust performance of both Sports and Entertainment properties," it added.

"Reliance Retail delivered strong performance during the quarter led by our relentless focus on operational excellence, investments in stores and digital platforms and festive buying across consumption baskets. GST rate changes will further accelerate consumption growth as consumers get the benefit of lower prices. Our success is a testament to our deep understanding of the consumer. We consistently innovate, from curating new collections to creating campaigns that connect with today's Indian consumer, and our focus remains on building brands that inspire and resonate across India," said Isha Ambani, Executive Director, Reliance Retail Ventures.

"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," said RIL Chairman and MD Mukesh Ambani.

"Jio has proudly served over 500 million subscribers addressing multiple digital needs of their everyday life. This has been possible due to Jio's Deep-Tech initiatives which have sparked India's technological revolution and have become the backbone of our Prime Minister's Digital India Mission. Jio will continue to bring new age technologies and enhance the life of every Indian citizen. Jio has successfully delivered its indigenous technology stack at India scale and is now set to take our homegrown technology around the world," said Akash Ambani, Chairman of Reliance Jio Infocomm.

"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 Yo-Y basis, reflecting agile business operations, domestic focused portfolio and structural growth in Indian economy," said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.

Reliance Retail saw its quarterly revenue rise 18% YoY to Rs 90,018 crore in Q2 FY26. Quarterly EBITDA meanwhile rose 16.5% to Rs 6,816 crore. The company opened 412 new stores during the quarter, taking the total store count to 19,821 at the end of the quarter under review. The company said that quick hyper-local commerce maintains strong growth trajectory.

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

Average revenue per user (ARPU) rose 8.4% YoY to Rs 211.4 per user.

Oil to Chemicals (O2C) revenue increased by 3.2% YoY. Production meant for sale increased 2.3% on a YoY basis. RIL's fuel retailing operations through Jio-bp further expanded its domestic placement of transportation fuels. Jio-bp achieved a volume growth of 34% for HSD and 32% for MS.

O2C EBITDA increased by 20.9% YoY with sharp increase in transportation fuel cracks and, sustained volume growth in domestic fuel retailing. For downstream chemicals, positive impact of higher polymer deltas were partially offset by weakness in polyester chain margins, the company said.

Reliance Industries announced that Jio has hit a significant milestone, with its subscriber base crossing the 500 million-mark. Total subscriber base currently stand at 506 million.

Reliance Industries reported EBITDA at Rs 50,367 crore in Q2 FY26. This marks a 15% rise from the Rs 43,934 crore reported in Q2 FY25. The firm’s EBITDA margin improved by 80 basis points to 17.8%.

Reliance Industries (RIL) has reported a net profit of Rs 22,092 crore for Q2 FY26. This marks a 14% YoY increase from the Rs 19,323 crore reported in Q2 FY25. Gross revenue meanwhile rose 10% YoY to Rs 2,83,548 crore during the reported quarter.

Reliance Industries in August this year paid an interim dividend of Rs 5.5 per equity share. In August last year, it paid a dividend of Rs 10 per equity share, and Rs 9 in the August of 2023. The company issued bonus shares in the ratio of 1:1 in October 2024. Take a look at the consolidated list of RIL's corporate actions:

• Dividend - Rs 5.5 per share (August 14, 2025)
• Bonus 1:1 (October 28, 2024)
• Dividend - Rs 10 per share (August 19, 2024)
• Dividend - Rs 9 per share (August 21, 2023)
• Demerger (July 20, 2023)

Reliance Industries in August unveiled Reliance Intelligence, a new wholly owned unit to drive artificial intelligence in India, pursuing Mukesh Ambani’s ambition to make the conglomerate a “deep-tech enterprise” alongside its telecom, retail and energy businesses.

The company will pursue four missions: building gigawatt-scale, AI-ready data centres in Jamnagar, forging alliances with leading technology firms and open-source communities, rolling out AI services across education, health, agriculture and small business sectors, and attracting world-class AI talent to India.

To realise this, Reliance is turning to Silicon Valley. Ambani announced a “deeper, holistic partnership” with Google, led by Sundar Pichai. Reliance is also forging a dedicated joint venture with Meta to deliver sovereign, enterprise-ready AI platforms tailored for Indian businesses and government entities. The partnership will combine Meta’s open-source Llama models with Reliance’s reach across energy, telecom, retail and manufacturing.

Investors will actively watch out for any updates around the possible dates for Reliance Jio’s much awaited IPO. During the company’s 48th annual general meeting, Reliance Industries Chairman Mukesh Ambani told shareholders, "Today, it is my proud privilege to announce that Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first-half of 2026, subject to all necessary approvals."

The second quarter earnings of Reliance Industries are expected to be released soon. They will be available via exchange filings on BSE and NSE, as well as on its website. The post-earnings press conference is set to begin from 7.30 pm. Follow our LIVE blog for the latest updates, key financials, management commentary and more.

Reliance Industries (RIL) shares closed 1.5 percent higher at Rs 1,419.10 apiece. The stock has gained over 3 percent in the past five days, and more than 11 percent in the past six months. The shares of the company are up over 16 percent in 2025 so far. The stock will be under active watch tomorrow when the market reopens, after the release of the results.

Reliance Industries Ltd's Q2 FY25  net profit rose 9.4 percent from the preceding three months to Rs 16,563 crore, beating analysts' expectations, driven by robust growth in its telecom and retail businesses.

Revenue from operations for India’s most valuable company stood at Rs 2.35 lakh crore in the quarter ended September 30, 2024, compared with Rs 2.36 lakh crore a quarter ago.

Reliance Industries Ltd’s fiscal first quarter net profit jumped 76.5 percent to Rs 30,783 crore, led by a gain from the sale of its stake in Asian Paints and strong growth in consumer-facing businesses. Excluding the one-time gain of Rs 8,924 crore, recurring profit still rose a solid 25 percent from a year earlier.

Consolidated revenue rose 6 percent to Rs 2.73 lakh crore, supported by strong growth in retail and digital services. Operating profit (EBITDA) jumped 36 percent to Rs 58,024 crore, with a healthy contribution from consumer businesses.

"Reliance has begun FY26 with a robust, all-round operational and financial performance. Consolidated EBITDA for 1Q FY26 improved strongly from a year-ago period, despite significant volatility in global macros," said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

Reliance Industries (RIL) shares jumped over 1.5% to trade at around Rs 1,419.90apiece. This comes ahead of the company’s announcement of earnings for the July-September quarter of the ongoing financial year 2026 (Q2 FY26).

Most houses -- including UBS, Axis Capital, Kotak, HSBC and Morgan Stanley -- maintain Buy or Overweight ratings with target prices ranging from Rs 1,700 to Rs 1,780, reflecting continued confidence in the company’s diversified earnings profile and gradual improvement in its energy-to-consumer mix. Investors will watch the guidance on telecom tariffs, retail momentum and progress on its new-energy initiatives.

JP Morgan projects 14 percent YoY EBITDA growth and 12 percent profit growth, noting that higher depreciation and interest costs could limit flow-through to the bottom line.

The upstream oil-and-gas segment is projected to remain broadly stable, contributing modestly to overall earnings. Analysts note that the market’s focus will be less on near-term profitability and more on management’s commentary around Reliance’s emerging “Powering AI” ecosystem -- which spans data centres, renewable energy capacity, and partnerships with global technology players such as Meta, Google and NVIDIA.

Brokerages, including Morgan Stanley and HSBC, said that such updates could serve as a positive long-term re-rating trigger for the stock, reinforcing RIL’s positioning in next-generation digital and energy infrastructure, rather than influencing this quarter’s earnings.

Both Reliance Retail and Jio are expected to extend their steady growth momentum. UBS forecasts retail revenue growth of over 13 percent YoY, with grocery and fashion formats leading gains. Axis Capital expects a 13 percent rise in underlying EBITDA and stable margins. J.P. Morgan expects retail performance to remain solid, though slightly moderated by the GST rate cuts on select durables announced in September.

In digital services, UBS and Nomura project around 15-16 percent EBITDA growth on-year, underpinned by continued subscriber additions and modest gains in average revenue per user (ARPU).

Refining margins have likely remained firm through the quarter, aided by strong diesel and jet fuel spreads and a weaker rupee, which improves export realisations. Axis Capital and UBS expect Reliance's O2C EBITDA to grow over 20 percent YoY, while JPMorgan estimates an even higher growth at 26 percent, supported by better cracks and improved margins. HSBC also forecasts a solid quarter for the O2C segment, citing supportive refining margins and steady overall performance within the energy business.

Brokerages said the O2C segment’s resilience and broadly stable petrochemical spreads are expected to support Reliance’s consolidated performance during the quarter.

Reliance Industries Ltd is expected to report robust earnings growth in the September quarter (Q2 FY26) on improved refining margins and sustained growth in its consumer businesses, Reliance Retail and Jio.

Net profit is expected to rise 11 percent from a year earlier to about Rs 18,450 crore for the September quarter, according to the median of nine analysts' estimates. RIL's consolidated EBITDA is seen climbing 14 percent to Rs 44,400 crore, supported by gains in the oil-to-chemicals, retail, and digital services businesses. (Read more)

Reliance Industries (RIL) shares jumped around 2% to trade at around Rs 1,421 apiece. This comes ahead of the company’s announcement of earnings for the July-September quarter of the ongoing financial year 2026 (Q2 FY26).