The largest company in India by market capitalization, Reliance Industries Limited (RIL), produced its best quarterly results in 18 months. The business reported robust growth in all of its key business segments and a dramatic increase in profit. Reliance exceeded market forecasts and set new records for operating and revenue in the first quarter of FY26.
Strong performance in its oil-to-chemicals business, digital services via Jio Platforms, and the growing retail division were the main drivers of this growth. Additionally, the business made a sizable one-time profit from the sale of its Asian Paints stock, which increased total profits. These findings demonstrate that Reliance is not only improving but also becoming stronger and more rapid.
Net Profit Increases 78% Year after Year
For the first quarter of FY26, Reliance Industries reported a consolidated net profit of ₹26,994 crore. Compared to ₹15,138 crore in the same quarter last year, this represents a staggering 78% increase. Profits of about ₹22,069 crore were anticipated by analysts, but the company’s earnings far surpassed those of the market. Strong operational performance and extra revenue from non-core operations were the main drivers of this remarkable growth.
This quarter is the most successful for the company in the last 18 months based on the profit figure. Given the uncertainty in the global economy and the disparities in sectoral performance, this outcome is particularly noteworthy. After experiencing a slight slowdown in FY25, the company has now firmly recovered.
One-Time Profit Increases Other Revenue
Reliance’s ₹8,924 crore one-time gain was one of the most notable aspects of this quarter’s results. This revenue was obtained by the business through the sale of its Asian Paints stock. The company’s plan to extract value from non-core investments included this sale. This increase helped sustain overall profit growth by raising its total “other income” to ₹15,119 crore.
During the quarter, this one-time revenue significantly strengthened the company’s finances. It gave Reliance more flexibility to invest in upcoming expansion projects and improved its balance sheet. This extra revenue gave the business a distinct financial edge in Q1 FY26, even though operational earnings stayed strong.
Solid Performance in Segments
All three of Reliance’s major business segments saw good growth in Q1 FY26. This even performance indicates the strength of the company in various segments. Oil-to-Chemicals (O2C): This business remains a significant contributor to profit. EBITDA in this segment increased by 10.8% to ₹14,511 crore. It was an increase due to increased refining margins and good petrochemicals demand. Global energy prices continued to be supportive and product spreads improved relative to earlier quarters.
Digital (Jio Platforms): Digital reported a resilient 23.9% increase in EBITDA. The growth was driven by steady growth in average revenue per user (ARPU), addition of new subscribers, and an increase in data usage. Jio’s 5G launch and digital ecosystem continue to draw in users, contributing to the top line.
Revenue and EBITDA Set Records
Reliance saw its record-largest quarterly revenue and EBITDA during Q1 FY26. Gross revenue was at ₹273,252 crore, equivalent to $31.9 billion. It is a significant increase from the last year and indicates the firm’s dominance across industries.
Operating profit (EBITDA) arrived at ₹58,024 crore, growing 36% over ₹42,748 crore in Q1 FY25. The firm also managed to achieve a 460 basis point improvement in its EBITDA margin to 21.2%. Such dramatic improvement reflects good cost control and increased profitability at business lines.
Management Outlook and Capex Push
Chairman Mukesh Ambani outlined a robust growth agenda in the quarterly update. He mentioned that Reliance plans to double size every 4-5 years, and this quarter was a significant step in that direction. In order to reinforce the objective, the company ramped up its capital spending in the quarter.
Reliance invested ₹29,875 crore (~$3.5 billion) in capital expenditures during Q1 FY26. The investments spanned priority growth spaces like digital infrastructure, clean energy, retail expansion, and telecom upgrades. Ambani also spoke about progress in establishing new energy giga-factories, which will dominate the future of the company.
Conclusion
Reliance Industries put up an outstanding performance in Q1 FY26. The firm reported its best numbers in 18 months, backed by a record 78% rise in net profit. Major segments such as oil-to-chemicals, Jio Platforms, and Reliance Retail witnessed robust growth. One-time profit from the sale of a stake in Asian Paints added to profits.
The record profit and operating income of the company indicate leadership strength in terms of execution and market presence. Significant capital investment, together with a clear direction for growth from the leadership, indicates that Reliance is preparing for larger targets.
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