More Stories

Informist, Friday, Jul. 17, 2026

 

Please click here to read all liners published on this story

--RIL Apr-Jun consol net profit INR 209.46 bln vs INR 269.90 bln year ago
--Analysts saw RIL Apr-Jun consol net profit at INR 190.13 bln
--RIL Apr-Jun consol revenue INR 3.12 tln vs INR 2.49 tln year ago
--Analysts saw RIL Apr-Jun consol revenue at INR 3.15 tln
--RIL Apr-Jun consol cost of materials INR 1.30 tln vs INR 992.82 bln yr ago
--RIL: Jio Platforms Apr-Jun ARPU INR 215.6/month
--RIL Apr-Jun consol EBITDA INR 540.67 bln vs INR 491.00 bln year ago
--RIL: Jio Platforms Apr-Jun ARPU INR 215.6/month vs INR 214.0/month qtr ago
--RIL Apr-Jun consol EBITDA margin 15.9% vs 18.0% year ago
--RIL Apr-Jun capex INR 386.82 bln vs INR 298.75 bln year ago
--RIL: Jio Platforms Apr-Jun revenue INR 391.73 bln vs INR 382.59 bln qtr ago
--RIL: Jio Platforms Apr-Jun EBITDA INR 208.65 bln vs INR 200.60 bln qtr ago
--RIL: Consol cash, cash equivalent at INR 2.47 tln on Jun 30
--RIL: Jio Platforms Apr-Jun EBITDA margin 53.3% vs 52.4% qtr ago
--RIL net debt INR 1.23 tln on Jun 30 vs INR 1.18 tln year ago
--RIL: Jio Platforms customer base 533.3 mln on Jun 30 vs 524.4 mln qtr ago
--RIL: Jio Platforms Apr-Jun data traffic 69.4 bln GB vs 66.0 bln GB qtr ago
--RIL: Apr-Jun ARPU rises due to better subscriber mix
--RIL Apr-Jun oil-to-chemicals revenue INR 2.02 tln vs INR 1.55 tln year ago
--RIL Apr-Jun Reliance Retail revenue INR 797.45 bln vs INR 737.20 bln year ago
--RIL Apr-Jun oil-to-chemicals EBITDA INR 170.10 bln vs INR 145.11 bln year ago
--RIL Apr-Jun Reliance Retail EBITDA INR 63.09 bln vs INR 63.81 bln year ago
--RIL Apr-Jun oil-to-chemicals EBITDA margin 8.4% vs 9.4% year ago
--RIL Apr-Jun Reliance Retail EBITDA margin 7.9% vs 8.7% year ago
--RIL Apr-Jun oil-to-chemicals ops throughput 18.1 mln tn, down 5.2% on year
--RIL: Reliance Retail store count 20,169 on Jun 30 vs 19,592 year ago
--RIL Apr-Jun oil-to-chemicals output for sale 15.6 mln tn, down 9.8% on yr
--RIL: Reliance Retail area operated 78.4 mln sq ft in Q1, up 1% YoY
--RIL: Opened 252 stores in Apr-Jun
--RIL: Oil-to-chem Q1 EBITDA up YoY on rise in transportation fuel cracks
--RIL: Oil-to-chemicals Q1 EBITDA up YoY on rise in downstream margins
--RIL: Opened 252 retail stores in Apr-Jun
--RIL: Registered retail customer base at 396 mln, up 10.6% on year
--RIL: High crude oil, freight cost capped margin gains for Oil-to-chem Q1
--RIL Apr-Jun oil and gas revenue INR 62.98 bln vs INR 61.03 bln year ago
--RIL Apr-Jun oil and gas EBITDA INR 49.73 bln vs INR 49.96 bln year ago
--RIL Apr-Jun oil and gas EBITDA margin 79% vs 81.9% year ago
--RIL Apr-Jun KGD6 gas avg price realised $8.89/mBtu vs $9.97/mBtu yr ago
--RIL Apr-Jun CBM gas avg price realised $12.0/mBtu vs $9.90/mBtu yr ago
--RIL Q1 KGD6 block production 59.2 bln of cubic ft equivalent, down 7.4% YoY
--RIL Apr-Jun CBM production 3.1 bln of cubic ft equivalent, up 10.7% YoY
--RIL: Q1 retail ops EBITDA margin dn on higher investments in e-commerce

 

By Sunil Raghu

 

AHMEDABAD – Reliance Industries Ltd.'s consolidated net profit for the June quarter fell year-on-year but was still able to beat analysts' expectations while the conglomerate's revenue increased on year but failed to beat Street expectations. The rise in revenue was the highest year-on-year rise in 15 quarters.

 

The consolidated net profit of Reliance Industries fell over 22% on year to INR 209.46 billion, but it was above analysts' expectations of INR 190 billion. The company had reported a one-time income of INR 89.24 billion in the June quarter last year. Adjusting for the one-time income, its consolidated net profit for the reporting quarter rose nearly 16%.

 

The company's consolidated revenue rose over 25% on year to INR 3.12 trillion, below the Street's consensus estimate of INR 3.15 trillion. From the trailing quarter, the company reported a rise of over 23% in consolidated net profit. Revenue was up over 4% compared with the March quarter.

 

The company's revenue for the June quarter jumped on a rise in earnings from expected quarters--oil-to-chemicals, digital services, and retail. The revenue from the oil and gas segment, too, rose despite the decline in natural gas being produced from the Krishna Godavari Dhirubhai 6, or KG-D6, gas field.

 

The net profit was hit as the company's overall expenses jumped on higher cost of crude oil, freight, insurance, and fuel owing to the military conflict in West Asia that led to the closure of the Strait of Hormuz from Mar. 1. The company's total expenses jumped nearly 27% on year to INR 2.88 trillion for the June quarter, from INR 2.27 trillion in the year-ago quarter.

 

In the quarter under review, the company's cost of materials was INR 1.30 trillion, up 31% on year. The company's other expenses, too, were up nearly 5% on year at INR 428.70 billion. Though the company did raise retail fuel prices a little, they mostly remained unchanged for most part of the quarter, resulting in higher under-recoveries.

 

The company's consolidated earnings before interest, taxation, depreciation, and amortisation was INR 540.67 billion, up 10% on year. In the June quarter a year ago, the company's consolidated EBITDA was INR 491 billion. The consolidated EBITDA margin fell 210 basis points on year to 15.8%.

 

OIL-TO-CHEMICALS

The oil-to-chemicals business, which accounted for just over 54% of the top line of Reliance Industries for the June quarter, saw its revenue grow over 30% on year to INR 2.02 trillion. The vertical's EBITDA jumped over 17% on year to INR 170.10 billion. For the March quarter, the EBITDA was at about INR 145 billion.

 

The rise in segment EBITDA had multiple tailwinds, including a sharp rise in transportation fuel cracks and downstream margins. Further, the company diversified its crude oil basket and did efficient product placements in deficit markets. It also diverted propane and butane to boost the production of liquefied petroleum gas. "(RIL) held domestic fuel prices at retail outlets, leading to under-recoveries in fuel retailing. Reintroduction of special additional excise duty on diesel, motor spirit, and aviation turbine fuel has adversely impacted margins from domestic business," Reliance Industries said.

 

The segment's EBITDA margin during the quarter fell 100 bps on year to 8.4%.

 

The transportation fuel cracks, which had jumped sharply after the outbreak of the US-Iran conflict, eased in May and June. They, however, stabilised at a new, higher normal, with quarterly cracks remaining significantly above the corresponding period last year, the company said. The Singapore 92 RON petrol cracks jumped 159% on year to $25.6 per barrel. This was because refiners prioritised diesel and jet fuel production, reducing petrol yield. Singapore Gasoil 10 parts per million cracks jumped 299% to $63 per barrel, primarily because of blockage of diesel and crude oil flows through the Strait of Hormuz, significant regional refinery run cuts amid supply constraints, and limited Chinese product exports.

 

For the June quarter, the aviation turbine fuel cracks too rose 343% on year to $62.9 a barrel owing to disruption of jet fuel supply to Europe.

 

Polymer margins saw a mixed trend. While polyethelene saw a year-on-year jump of 46% in the delta due to higher product prices on supply disruption, the polypropylene margin was up 3% on year, as a rise in product prices was largely offset by firm naphtha prices. The delta for polyvinyl chloride fell 10% owing to higher increase in feedstock price than PVC price. The delta for the polyester chain rose 17% on year.

 

Brent crude oil price averaged $104.5 a barrel in the June quarter, up $36.7 a barrel from the corresponding quarter in 2025. The company's total crude oil throughput during the quarter was 18.1 million tonnes, down a little over 5% on year. The production meant for sale was 15.6 million tonnes, also down nearly 10% on year. The company said higher sourcing of crude oil from Russia and Latin America helped to reduce dependence on Arab grade crudes.

 

RETAIL SEGMENT

The company's second-largest business vertical after the flagship oil-to-chemicals business, Reliance Retail Ventures Ltd. reported 8.2% year-on-year rise in consolidated revenue from operations for the June quarter to INR 797.45 billion. The consolidated net profit from the division, however, fell 14.1% on year to INR 28.05 billion.

 

The retail division accounted for 29% of the consolidated sales of Reliance Industries for the June quarter. However, its contribution to the company's EBITDA was much lower than that of the mainstay oil-to-chemicals business and the digital services division. Reliance Retail accounted for a little over 12% of the consolidated EBITDA for the quarter.

 

Reliance Retail's EBITDA from operations for the quarter fell 1.8% on year to INR 59.35 billion. In the year-ago quarter, its EBITDA from operations was INR 60.44 billion. The EBITDA declined 1.1% on year to INR 63.09 billion.

 

The EBITDA margin for the vertical in the reporting quarter declined by 80 bps on year to 7.9%. The EBITDA margin was unchanged sequentially. In a statement, the company said the EBITDA margin moderation reflects the growing contribution of digital commerce in revenue and associated infrastructure investments increasing fixed cost.

 

Reliance Retail reported 396 million customers and 568 million transactions in the June quarter. It opened 252 new stores in the quarter, taking the total count to 20,169 stores with 78.4 million square feet of operational area as on Jun. 30. While the number of transactions in the June quarter increased 46% on year, the registered customer base expanded nearly 11% on year.

 

Reliance Retail's grocery digital commerce scaled up rapidly with average daily orders up 116% on year in the June quarter. The business division witnessed 8.5% year-on-year growth in unique customers served across retail formats.

 

Reliance Industries said the JioMart e-commerce platform maintained growth momentum across key metrics, servicing 5,500 postal index number codes, with over 2,500 digital and fashion & lifestyle stores connected to two-hour delivery models in the June quarter. The active seller base on the JioMart platform grew 26% on year in the quarter under review. Its operating focus on repeat customers, order density, availability, delivery cost, and contribution margin helped to expand the business.

 

The grocery business registered 7% like-for-like growth in the quarter with regional festivals and category-focussed events driving consumer spending and engagement. The revenue growth from the grocery business came from staples, dairy, frozen items, and bakery products.

 

The fashion and lifestyle business delivered revenue growth led by new merchandise and store renovation enhancing customer experience which resulted in like-for-like store growth of 4% on year. The company's own brands continued to gain traction with their contribution to total sales from the business going up 380 bps on year.

 

Digital commerce accounted for over 27% of Reliance Retail's June quarter revenues, increasing its contribution to overall sales by 490 bps on year, primarily on account of higher apparel and footwear sales.

 

The consumer electronics stores, operating under the Reliance Digital brand, also maintained their revenue momentum in the June quarter, registering 16% like-for-like growth. Despite global product shortages arising from the fallout of the West Asia war, they maintained product availability through brand partnerships, which drove the growth. Products such as air conditioners, laptops, cellphones, and small appliances accounted for most of the sales in Reliance Digital in the June quarter.

 

JIO PLATFORMS

The consolidated revenue from soon-to-listed Jio Platforms Ltd. rose almost 12% on year and 2.4% on quarter to INR 391.73 billion for the June quarter. It accounted for nearly 13% of the conglomerate's overall top line for the three months. The EBITDA of the segment grew 15.1% on year and 4% on quarter to INR 208.65 billion. The EBITDA margin expanded 150 bps on year and 90 bps sequentially to 53.3%.

 

Revenue growth in the quarter was driven by continued subscriber market share gains, increase in average revenue per user, and strong growth in digital services, the company said in a press release.

 

The customer base of Jio Platforms increased by 8.9 million users sequentially to 533.3 million as of the end of June. The company net added 35.2 million users in the past 12 months, it said in a presentation for investors.

 

The company said its total subscriber base for fifth generation telecommunication services reached about 285 million as of June. "Customer engagement also remains robust with 5G now at (about) 1.5 (times) of 4G data traffic," it added.

 

The average revenue per user improved marginally to INR 215.6 per month in the June quarter from INR 214 per month in the trailing quarter. For the year-ago quarter, the metric stood at INR 208.8 per month.

 

The company credited the rise in average revenue per user to a better subscriber mix and positive seasonality, partly because of promotional schemes for fixed broadband customers. It added that the monthly churn improved to 1.6% in the quarter from 1.7% in the trailing three months.

 

The total data traffic for the June quarter rose nearly 27% on year to 69.4 billion gigabytes, with per capita data consumption at 43.7 gigabytes per month. In the March quarter, the data traffic added up to 66 billion gigabytes.

 

"As we embark on our next phase of journey to be a publicly listed company in India, we will continue to maintain our deep-tech focus and democratise access to digital connectivity and digital services in India and globally," Jio Platforms Managing Director Akash M. Ambani was quoted as saying in the press release.

 

OIL AND GAS

Revenues from the company's exploration business rose to INR 62.98 billion, down over 3% from the June quarter a year ago, owing to lower production from its KG-D6 block and lower gas price realisation in the block. The KG-D6 production refers to natural gas that is extracted from the Krishna-Godavari basin's D6 block. During the quarter, the average price realisation for the block fell to $8.89 per million British thermal units, from $9.97 per mBtu a year ago.

 

Total production from the KG-D6 block fell over 7% on year to 59.2 billion of cubic feet equivalent, with average production of 24.8 million standard cubic metres per day of natural gas and 16,721 barrels per day of oil condensate.

 

The production of coal bed methane rose 10.7% on year to 3.1 billion of cubic feet equivalent. For coal bed methane, the average realisation rose to $12 per mBtu from $9.90 per mBtu a year ago. Coal bed methane, known in industry circles as CBM, is the natural gas extracted from coal seams in the Sohagpur blocks in Madhya Pradesh.

 

The oil and gas segment's EBITDA for the quarter fell slightly, by 0.5% on year, to INR 49.73 billion. The EBITDA margin for the segment fell 190 bps on year to 79%.

 

Across all the businesses, Reliance Industries invested INR 386.82 billion in capital expenditure in the June quarter, nearly 30% higher on year. For the June quarter of FY26, the company had incurred capital expenditure of INR 298.75 billion. Its outstanding debt at the end of the reporting quarter was up over 9% on year at INR 3.70 trillion. A year ago, this figure stood at INR 3.38 trillion. As of Jun. 30, its net debt was INR 1.23 trillion, up from INR 1.18 trillion a year ago. Its cash and cash equivalents were INR 2.47 trillion, compared to INR 2.209 trillion a year ago.

 

Reliance Industries announced its earnings after market hours Friday. Its shares closed at INR 1,327.20 on the National Stock Exchange, up 2.4% from Thursday's close.  End

 

US$1 = INR 96.28

 

With inputs from Avishek Rakshit and Shakshi Jain

Edited by Rajeev Pai

 

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.