Reliance Reports 13% Year-Over-Year Decline in Profit to ₹16,971 Crore in Q4 2026

Reliance Industries Reports 12.6% YoY Fall in Net Profit for Q4FY26

Reliance Industries (RIL), India's largest company in terms of market capitalisation, reported a 12.6% year-on-year (YoY) fall in its consolidated net profit (attributable to owners of the company) to ₹16,971 crore for the January-March quarter of the financial year 2026 (Q4FY26). The company's profit was ₹19,407 crore in the corresponding quarter of the previous financial year (Q4FY25).

The Mukesh Ambani-led oil-to-telecom-to-retail conglomerate reported a 12.9% YoY rise in consolidated revenue from operations to ₹2,98,621 crore for the March quarter. RIL's gross revenue jumped by 13% YoY to ₹3,25,290 crore, while profit after tax (PAT) declined by 8.1% YoY to ₹20,616 crore.

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Consolidated EBITDA for the quarter declined 0.3% YoY to ₹48,588 crore, while EBITDA margin shrank by 200 bps YoY to 14.9%. Strong business momentum across O2C (oil-to-chemicals), digital services and retail delivered double-digit revenue growth in each of these segments. Oil and gas segment revenue decreased in line with the natural decline in KG D6 gas production.

For the entire financial year 2026, RIL's net profit stood at ₹80,775 crore, up 16% from ₹69,648 crore in FY25, while revenue from operations grew by 9.75% to ₹10,75,675 crore from ₹9,80,136 crore in the previous financial year. The company's Chairman and Managing Director, Mukesh Ambani, attributed the strong performance to the breadth of its portfolio and strong domestic orientation.

"We faced geopolitical disruptions, volatile energy prices and shifting global trade patterns. These headwinds weighed on businesses across the world. India held its economic growth course through all this, as did Reliance," Ambani said.

The company also hinted at the Jio IPO launch plan being on track. "We are advancing steadily towards the listing of Jio Platforms. This will mark a defining milestone in its journey as it continues to scale new heights and contribute to India’s digital future," Ambani said.

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Jio Platforms Delivers Strong All-Round Show

Jio Platforms, Reliance's telecom arm, delivered a strong all-round show, with healthy growth in revenue and profitability. Revenue from operations for the segment rose by 12.6% YoY to ₹38,259 crore, while PAT jumped 13% YoY to ₹7,935 crore. EBITDA saw a 17.9% YoY jump to ₹20,060 crore, and EBITDA margin climbed by 230 bps YoY to 52.4%.

Jio's ARPU (average revenue per user) increased to ₹214 from ₹213.7 QoQ and ₹206.2 YoY. The customer base expanded 7.4% YoY to 524.4 million from 515.3 million QoQ and 488.2 million YoY.