Reliance Industries Q1 Profit Surges 76% to Rs 30,783 Crore on Asian Paints Sale
Reliance Industries Limited delivered exceptional financial performance in the first quarter of FY26, with net profit jumping 76.5% year-on-year to Rs 30,783 crore. The remarkable growth was primarily driven by a one-time gain from the divestment of its Asian Paints stake and robust performance across consumer-facing business segments.
Key Financial Highlights
The conglomerate's consolidated revenue increased 6% to Rs 2.73 lakh crore, demonstrating steady growth momentum despite challenging global macroeconomic conditions. Operating profit (EBITDA) witnessed impressive growth of 36% to Rs 58,024 crore, reflecting strong operational efficiency across business verticals.
Even excluding the exceptional gain of Rs 8,924 crore from the Asian Paints stake sale, recurring profit still registered a healthy 25% increase compared to the same quarter last year, highlighting the underlying strength of core business operations.
Chairman and Managing Director Mukesh Ambani emphasized the company's strong start to FY26, noting robust all-round operational and financial performance despite significant global macro volatility.
Jio Platforms: Digital Leadership Continues
Jio Platforms maintained its dominant position in India's digital ecosystem with profit rising 25% to Rs 7,110 crore. EBITDA grew nearly 24% to Rs 18,135 crore, underscoring the platform's strong monetization capabilities.
Key operational metrics showcased Jio's market leadership:
- Net subscriber additions: 9.9 million during the quarter
- Total subscriber base: 498.1 million
- JioTrue5G users: Crossed 200 million milestone
- JioAirFiber subscribers: 7.4 million, making it the world's largest FWA service
- Average Revenue Per User (ARPU): Rs 208.8, boosted by recent tariff adjustments
The platform maintained industry-leading customer engagement with per capita data consumption of 37 GB monthly. Total data traffic surged 24% year-on-year to 54.7 billion GB, reflecting increasing digital adoption across India.
Akash M. Ambani, Chairman of Reliance Jio Infocomm, highlighted the milestone achievement of crossing 200 million 5G subscribers and 20 million home subscribers, positioning Jio as a technology leader in India's telecommunications landscape.
Reliance Retail: Expanding Market Presence
The retail arm delivered solid performance with revenue growing 11.3% to Rs 84,171 crore and EBITDA increasing 12.7% to Rs 6,381 crore. The consumer brands division under FMCG operations achieved sales of Rs 11,450 crore in just its second year of operations.
Retail expansion remained aggressive with 388 new store openings during the quarter, bringing the total store count to 19,592 across 77.6 million square feet. The registered customer base expanded to 358 million, reinforcing Reliance Retail's position as one of India's most preferred retailers.
Digital commerce platform JioMart demonstrated exceptional growth momentum with 68% sequential growth in quick hyperlocal deliveries and 175% year-on-year growth in daily orders, capitalizing on the rapidly expanding online grocery market.
Isha M. Ambani, Executive Director of Reliance Retail Ventures Limited, attributed the resilient performance to operational excellence, geographical expansion, and focused product portfolio optimization.
Entertainment Division Shows Strong Performance
JioStar, the media and entertainment vertical, reported gross revenue of Rs 11,222 crore and EBITDA of Rs 1,017 crore. The successful IPL season significantly contributed to performance, with JioHotstar app downloads surpassing 1 billion on Android and achieving record viewership of 1.19 billion across TV and digital platforms.
Monthly active users averaged over 460 million, demonstrating the platform's strong content engagement and market penetration in India's entertainment sector.
Oil-to-Chemicals Business: Mixed Performance
The traditional oil-to-chemicals (O2C) segment faced headwinds with revenue declining 1.5% to Rs 1.55 lakh crore due to lower crude oil prices and scheduled maintenance activities. However, EBITDA improved 11% to Rs 14,511 crore, benefiting from favorable domestic fuel retail margins and enhanced transportation fuel crack spreads.
Reliance BP Mobility expanded its retail fuel network to 1,991 outlets, outpacing overall industry growth rates and strengthening market presence.
Future Outlook and Strategic Investments
Capital expenditure for the quarter stood at Rs 29,887 crore, reflecting continued investments in growth initiatives across business segments. Net debt remained stable at Rs 117,580 crore as of June 30, demonstrating disciplined financial management.
The company's new energy business continues building a comprehensive renewable energy ecosystem, with leadership indicating the division will become self-funded through profitability and monetization in the coming years.
Reliance Industries' diversified business model and strong execution capabilities position the company well for sustained growth across its consumer-focused segments while navigating traditional energy sector challenges.
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