Refineries & Petro-Products company Reliance Industries announced Q1FY26 results Gross Revenue increased by 6.0% YoY to Rs 2,73,252 crore (USD 31.9 billion). JPL revenue increased by 18.8% YoY due to strong subscriber growth across mobility and homes, increased consumption and sustained positive momentum in digital services. RRVL revenue increased by 11.3% YoY. All segments performed well, with market leading performance in grocery and fashion. Oil to Chemicals (O2C) revenue decreased by 1.5% YoY due to a fall in crude oil prices and lower volumes on account of the planned shutdown. Segment revenues were supported by increased domestic placement of transportation fuels through Jio-bp. Oil and Gas segment revenue decreased by 1.2% YoY mainly on account of lower sales volume of KGD6 gas with natural decline in production, lower gas price for CBM and lower crude price realisation. This was partly offset with improved KGD6 gas price realisation. EBITDA increased by 35.7% YoY to Rs 58,024 crore (USD 6.8 billion). JPL EBITDA increased by 23.9% YoY driven by strong growth in ARPU and 210 bps margin expansion led by operational efficiencies. RRVL EBITDA increased by 12.7% YoY led by strategic initiatives, operating leverage and cost discipline. O2C EBITDA increased by 10.8% YoY due to favourable margin on domestic fuel retail, improvements in transportation fuel cracks and PP, PVC delta. This was partially offset by lower volumes on planned turnaround and decline in polyester chain margins. Oil and Gas segment EBITDA decreased by 4.1% YoY on account of lower revenues coupled with increase in operating costs due to higher maintenance activities during the quarter. Other income includes Rs 8,924 crore, being proceeds of profit from sale of listed investments. Depreciation increased by 1.8% YoY to Rs 13,842 crore (USD 1.6 billion). Finance Costs increased by 18.9% YoY to Rs 7,036 crore (USD 820 million), largely due to operationalisation of 5G spectrum assets. Tax Expenses increased by 11.7% YoY at Rs 6,465 crore (USD 754 million). Profit After Tax and Share of Profit/(Loss) of Associates & JVs increased by 76.5% YoY to Rs 30,783 crore (USD 3.6 billion). Excluding proceeds of profit from sale of listed investments, EBITDA increased by 15% and PAT was up 25% YoY. Capital Expenditure for the quarter ended June 30, 2025, was Rs 29,875 crore (USD 3.5 billion). Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries, said: “Reliance has begun FY26 with a robust, all-round operational and financial performance. Consolidated EBITDA for 1Q FY26 improved strongly from a year-ago period, despite significant volatility in global macros. During the quarter, energy markets encountered heightened uncertainty, with sharp fluctuations in crude prices. Our O2C business delivered strong growth, with thrust on domestic demand fulfillment and offering value-added solutions through Jio-bp network. Performance was supported by improvement in fuel and downstream product margins. Natural decline in KGD6 gas production resulted in marginally lower EBITDA for Oil & Gas segment. Retail’s business performance registered customer base expanded to 358 million, along with significant improvement across operating metrics. We are focusing on strengthening the portfolio of own FMCG brands, which resonate with the tastes of Indian consumers. Our Retail business continues to enhance its ability to fulfill everyday as well as specialized needs of all customer cohorts, through a multi-channel approach. I am happy to share that Jio has scaled newer heights during the quarter including crossing 200 million 5G subscribers and 20 million home connects. Jio AirFiber is now the largest FWA service provider in the world, with a base of 7.4 million subscribers. Our Digital Services business consolidated its market position with a robust financial and operational performance. Through its differentiated offerings across mobility, broadband, enterprise connectivity, cloud and smart homes, Jio has positioned itself as the technology partner of choice for Indian consumers. Reliance’s Media business has emerged as a one-stop platform for entertainment, sports and news content from all over the world. We will continue to enhance our suite of offerings across genres to cater to the discerning Indian audience. Reliance is committed to contribute to India’s growth this journey through inclusive growth, technological innovation and leading energy transformation. The performance of our businesses and growth initiatives gives me confidence that Reliance will continue its stellar track record of doubling every 4-5 years.” Akash M Ambani, Chairman of Reliance Jio Infocomm, said: “We have delivered a milestone quarter at Jio with our 5G and Home subscriber base crossing the 200 million and 20 million marks respectively. Jio continues to bring next generation services for its users with the launch of JioGames Cloud and JioPC bundle at affordable prices to drive adoption of digital services in India. Jio continues to create unparalleled technology infrastructure and is extending its leadership in 5G and fixed broadband. This will be pivotal in driving AI adoption in the country”. Isha M. Ambani, Executive Director, Reliance Retail Ventures, said: “Reliance Retail delivered resilient performance during this quarter driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility". Result PDF