More Stories

Informist, Friday, Apr. 24, 2026

--RIL: Performance of telecom, retail ops somewhat offset energy weakness
--RIL: See traction building in telecom business going forward
--RIL: Share of diamonds in jewels ops rising, helping with margin growth

--RIL: Decline in gas production in Q4 lower than expected

By Anand JC and Gopika Balasubramanium

MUMBAI – Reliance Industries Ltd. Friday said production of gas in the March quarter from its fields declined lower than it had expected and that it was taking efforts to augment production at its fields in the Krishna Godavari-D6 block. RIL had expected production to fall 12-14% in the March quarter but it fell 8%, its management said at a post-earnings briefing virtually.

"We can see the consistent production decline in KG-D6...we are making the efforts to stabilise that decline," a senior official said. "With further activities that are planned for augmentation of production, we should be able to offset that decline to some extent," he added.

The company is seeing lower price realisation because of the ceiling price. Production at its coal-bed methane fields has increased, and the company will continue with plans to drill 40 multilateral wells.

The prices of liquefied natural gas have gone up amid the ongoing war in West Asia. Qatar has been caught up in the crossfire as its LNG capacities took a significant beating, forcing the company to shut production at its Ras Laffan units. This has caused an increase in the global prices of LNG as well, given that Qatar is among the world's largest LNG exporters.

In this situation, RIL expects prices of LNG to remain elevated in the near term. As and when new capacities for LNG come up in the region, prices may see moderation, the company said. The military conflict has also led to significant damage to energy infrastructure in the Persian Gulf. "There is definitely infrastructure that has been hit. And going forward, we expect to see lower capacities on production as well as on refining," the company said.

RETAIL SHOW

RIL said its consumer and telecom businesses combined helped negate the weakness in its energy segments in a quarter where the latter was impacted by the war in West Asia. The December quarter is typically the strongest in a year for its retail business. However, the company noted that the performance of its retail business in the March quarter was marginally better quarter-on-quarter, as its revenue hit a record high of INR 982.32 billion.

Multiple retail brands across its offering reported robust growth in the March quarter. Its premium brands recorded high single-digit same-store sales growth. "Design-led diamond jewellery, that continues to gain traction. We've been trying pretty hard, and over the last few quarters, the share of diamonds has been increasing, which does help in improving margins as well," the company said.

Reliance Jio's customer base improved to 524.4 million in the March quarter, up 7.4% on year. The company's average revenue per user increased almost 4% on year to INR 214 in the reporting quarter. "This year, there was no tariff action; this (growth) is mostly coming in from organic moves," an official said. "Per capita data consumption increased to 42.3 GB per month, and this continues to see very healthy growth, and we are expecting this to keep growing like this, with more use cases coming in," he added. The monthly churn rate is reducing and operating metrics are doing well as per the company's expectations. As such, RIL sees traction in its telecom business building further.

RIL reported a consolidated net profit of INR 169.71 billion for the March quarter, lower than expectations of INR 191.09 billion. Its top line for the reporting quarter was INR 2.99 trillion, higher than projections of INR 2.82 trillion. 

RIL disclosed its March quarter earnings after the market closed. Friday, its shares closed 1.2% lower at INR 1,327.80 on the National Stock Exchange.  End

Edited by Akul Nishant Akhoury

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2026. All rights reserved.