RIL O2C results: Revenue rises 8.4% to Rs 1.62 lakh crore, EBITDA up 14.6%

Reliance Industries Ltd’s oil-to-chemicals business posted an 8.4% rise in revenue to Rs 1.62 lakh crore in the December quarter.

• Reliance O2C revenue rose 8.4 percent to Rs 1.62 lakh crore in December quarter
• O2C EBITDA rises 14.6% due to higher fuel margins and favorable market conditions
• Jio-bp fuel network grew 14%, increasing diesel and petrol sales volumes.

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Reliance Industries Ltd’s oil-to-chemicals business posted an 8.4% rise in revenue to Rs 1.62 lakh crore in the December quarter.

The segment’s EBITDA (earnings before interest, taxes, depreciation, and amortisation) for the quarter increased by 14.6% from the last year to Rs 16,507 crore due to sharp increase in transportation fuel cracks and higher sulphur realisation, partially offset by weakness in downstream chemical margins and higher feedstock freight rates.

Favourable ethane cracking economics and domestic market placements continued to support profitability, the company said.

Chairman and Managing Director Mukesh D. Ambani said that robust growth in O2C business was led by significantly higher fuel margins with favorable demand-supply dynamics, along with operational flexibility.

The segment’s production meant for sale also registered an increase of 1.7% against the same period of last fiscal.

The company’s fuel retailing operations through Jio-bp expanded its network by 14% over the last year to 2,125 outlets, driving volume growth of 24.7% for high-speed diesel (HSD) and 20.8% for motor spirit (MS) as against industry sales volume growth rate of 3.1% for HSD and 5.5% for MS.

Reliance Industries (RIL) continues to focus on the domestic market, trying to outperform by innovative products, said Srinivasan T, Chief Operating Officer of the conglomerate's O2C business.

Oil & Gas

The company’s oil & gas segment revenue for the quarter declined by 8.4% to Rs 5,833 crore from the last year mainly on account of lower volumes and price realisation for KGD6 gas and condensate.

The segment’s quarterly EBITDA declined by 12.7% to Rs 4,857 crore from the same period of the last fiscal following lower revenues and higher operating cost due to maintenance activities, the company said.

Sanjay Barman Roy, President, Exploration & Production segment said that there was a natural decline in KGD6 volume. “EBITDA margin declined with higher operating cost on periodic maintenance activity,” Roy said.

The average KGD6 production for the Q2FY26 stood at 26.1 MMSCMD (Million Standard Cubic Meters per Day) of gas and 18,746 barrels per day of oil/condensate. The current rate of production is 26.1 MMSCMD of gas and 18,400 bbl per day of oil/condensate, the company said.

The company sees steady increase in coal bed methane volumes with more wells put to production. The company has completed and put to production 17 wells, of which 6 wells are under ramp-up.

Amit Chaturvedi, President, Petrochemicals at RIL said that the company will continue to develop domestic downstream market and expand Jio-bp footprint. The company will focus on high value, high growth domestic market segments, he added.