Reliance Industries posts 14.3% rise in Q2 net profit to Rs 22,092 crore, driven by robust consumer and O2C growth

The company's consolidated revenue rose 10 per cent YoY to Rs 2,83,548 crore, while quarterly consolidated EBITDA grew 14.6 per cent to Rs 50,367 crore. The growth was supported by higher throughput in the O2C segment, strong consumer demand, and continued traction in Jio's digital operations.

Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, said, "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 Y-o-Y basis, reflecting agile business operations, domestic-focused portfolio and structural growth in Indian economy."

"O2C business delivered robust growth on Y-o-Y basis, despite continued volatility in energy markets. Fuel margins recovered over previous year led by middle distillate cracks... Reliance's operational delivery is supported by integrated assets, high mix of light-feed cracking, and strong focus on domestic markets," he added.

The O2C business achieved its highest-ever quarterly throughput of 20.8 million metric tonnes, up 3 per cent YoY, and reported a 20.9 per cent rise in EBITDA to Rs 15,008 crore. Refinery margins showed recovery, driven by sharp increases in transportation fuel cracks, while polymer deltas trended higher.

The Jio-bp fuel retail network crossed the 2,000 mark with 2,057 outlets, with motor spirit (MS) and high-speed diesel (HSD) volumes up 32 per cent and 34 per cent respectively.

The Digital Services segment, under Jio Platforms, reported a 15 per cent YoY rise in revenue to Rs 42,652 crore and a 17.7 per cent jump in EBITDA to Rs 18,757 crore, with margins expanding by 140 basis points. Average revenue per user (ARPU) grew 8.4 per cent YoY to Rs 211.4, and Jio's 5G subscriber base reached 234 million. Total home connections stood at 22.7 million, with JioAirFiber continuing its global leadership at 9.5 million subscribers.

Akash M Ambani, Chairman of Reliance Jio Infocomm, said, "Jio has proudly served over 500 million subscribers addressing multiple digital needs of their everyday life... Jio has successfully delivered its indigenous technology stack at India scale and is now set to take our homegrown technology around the world."

RIL's Retail business posted a strong 18 per cent YoY revenue growth to Rs 90,018 crore, with EBITDA up 16.5 per cent at Rs 6,816 crore. Grocery and Fashion & Lifestyle segments led growth at 23 per cent and 22 per cent respectively, while total store count rose to 19,821.

Isha M. Ambani, Executive Director, Reliance Retail Ventures, said, "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."

Meanwhile, the Oil and Gas segment's performance was affected by a natural decline in KGD6 output, with revenue falling 2.6 per cent YoY and EBITDA down 5.4 per cent.

Capital expenditure during the quarter stood at Rs 40,010 crore, fully covered by cash profit of Rs 40,778 crore, as Reliance continued to invest in O2C capacity expansion, Jio's 5G rollout, and its new energy giga factories. (ANI)