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Informist, Friday, Jan. 16, 2026

 

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--RIL: High demand from tier-II, tier-III cities for our fiber network 
--CONTEXT: RIL management's comments in post-earnings presentation 
--RIL: Adding new customers aggressively to JioMart 
--RIL: Taking steps to reduce decline in KG D6 output 
--RIL: Saw stable demand for fuels, polymers in Q3 
 

 

By Anand JC and Pallavi Singhal

 

NEW DELHI – Reliance Industries Ltd. will undertake infrastructure-led exploration at its wells in the Krishna-Godavari basin to create reserves out of it and bring it on stream by tie-backs to existing infrastructure, its management said in a post-earnings presentation Friday. "There is a natural decline in KG-D6 fields, there are efforts underway to augment production," a top official said during the virtual presentation.

 

The earnings before interest, tax, depreciation, and amortisation EBITDA of RIL's exploration and production operations decreased 13% year-on-year to INR 48.57 billion in the December quarter. The company attributed this fall to the natural decline in gas volumes from KG-D6 and weak price realisation for gas from these fields, coal-bed methane, and condensate products.

 

RIL reported a consolidated net profit of INR 186.45 billion for the December quarter, lower than expectations of INR 196.63 billion. Its consolidated revenue grew to INR 2.70 trillion, higher than expectations of INR 2.52 trillion.

 

The Mukesh Ambani-led conglomerate earned roughly 60% of its top line from the oil-to-chemicals business. For the December quarter, this segment's revenue grew 8.4% on year to INR 1.621 trillion while the segment's EBITDA improved 15% on year to INR 165.07 billion. "We maximised the production because of the better economics rather than sending it to petrochemicals. So overall, one could say that there has been stable demand for fuels as well as polymers," an executive said.

 

Fuel cracks improved 60-100% during the reporting quarter, which is higher than the five-year average. One of the reasons why the segment grew was because of the premium for feedstock prices due to the volatility in the market. "The deltas on the petrochemical side also have been low. And then in addition to this, also we have had a rise in the tanker rates, the freight rates. And why the freight rates went up is because the sanctions on the vessels doing some trade from Russia or the other countries put on the sanctions," an executive said.

 

RIL said it used time charter vessels at its disposal to deal with freight costs that went up because of lower supply of vessels due to the sanctions. "We also aggregated cargoes instead of taking them in smaller lots. We've tried to pick up larger parcels. That has also helped us cut the freight cost. And we've also adopted a lot of flexibility in terms of changing the service of the tankers from dirty crude to clean products and things like that and back also," the executive said.

The company also has a significant presence in the digital communications space. Reliance Jio's market share in fixed broadband improved 800 basis points in the last one year to 41% as of November, the company said in its presentation. "And that rate, if anything, is only picking up. We have crossed 25 million home broadband subscribers. Now, 70% of the incremental fixed broadband subscriber addition is happening through the Jio network," another executive said.

 

Fixed wireless access connectivity currently accounts for 3/4th of fixed broadband additions for Reliance Jio. Through this network, the company provides high-speed internet to a fixed location using cellular networks and radio waves, instead of traditional sources like cables.

 

"The FWA (fixed wireless access) subscribers are consuming more data. And the quality of service has been at par, if not better than fiber," the executive said. "We are seeing a lot of demand and traction coming in from tier 2, tier 3 cities, as well for our fixed wireless offering," the executive said.

 

The retail segment's revenue contributed around 36% to RIL's overall top line. This segment houses multiple businesses, including Jio Mart, which is its digital commerce platform.

 

This is India's largest quick commerce platform having presence in over 5,000 cities, the company said. "This is done through 3,000 plus stores which are a combination of walk-in stores and dark stores. That makes sure that we have the largest network of stores in the country and the widest reach compared to any quick commerce players, which is helping us scale the business very, very aggressively," an executive said.

 

RIL announced its results after the stock markets closed on Friday. Its shares closed marginally lower at INR 1,457.90 on the National Stock Exchange.  End

 

Edited by Ashish Shirke

 

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