Reliance Industries Ltd. (RIL) for the second quarter ended September 30 reported 14.3% Year on Year (YoY) growth in consolidated net profit (andShare of Profit/(Loss) of Associates & JVs) at ₹22,092 crore due to a better show at Oil to Chemicals (O2C), Jio and retail businesses.
For the quarter the company’s gross revenueincreased by 9.9% YoY to ₹283,548 crore.
The revenue of Jio Platforms Ltd. (JPL) increased by 14.9% YoY led by subscriber growth across mobility and homes, sustained improvement in ARPU and continued ramp-up in digital service offerings.
JPL EBITDA increased by 17.7% YoY primarily driven by revenue growth and 140 bps margin expansion.
The revenue of Reliance Retail Ventures Ltd (RRVL) increased by 18.0% YoY with significant growth across consumption baskets.
RRVL EBITDA increased by 16.5% YoY led by higher revenue with ramp-up in store-footprint and hyperlocal deliveries, favourable mix, and focus on operational efficiencies.
Oil to Chemicals (O2C) revenue increased by 3.2% YoY. Production meant for sale increased 2.3% on a YoY basis. The company’s fuel retailing operations through Jio-bp further expanded its domestic placement of transportation fuels. Jio-bp achieved a volume growth of 34% for HSD and 32% for MS.
O2C EBITDA increased by 20.9% YoY with sharp increase in transportation fuel cracks and, sustained volume growth in domestic fuel retailing.
For downstream chemicals, positive impact of higher polymer deltas were partially offset by weakness in polyester chain margins, the company said.
The revenue of Oil and Gas segment decreased by 2.6% YoY mainly on account of natural decline of production in KGD6, and lower condensate price realisation, the company said.
This was partly offset with improved KGD6 gas price realisation and higher volume of CBM, it added.
Oil and Gas segment EBITDA decreased by 5.4% YoY on account of lower KGD6 gas volumes, and higher operating costs on account of periodic maintenance activities.
Mukesh D. Ambani, Chairman and Managing Director, RIL said, “Reliance delivered a robust performance during 2QFY26 led by strong contribution from O2C, Jio and Retail businesses.”
“Digital services business continues to scale-up with positive momentum in subscriber addition across homes and mobility services, driven by Jio’s network and technology leadership. Jio’s innovative radio solutions and ubiquitous stand-alone 5G network have enabled it to provide broadband connectivity to households across India,” he said.
“I am happy to highlight the growth momentum of our Retail business. All formats registered higher volume, propelling strong growth in both revenue and EBITDA. There has also been a sustained pick-up in our quick hyperlocal delivery model. The recently announced progressive reforms in GST regime provide a boost to continuing consumption-led growth,” Mr Ambani said.
“O2C business delivered robust growth on Y-o-Y basis, despite continued volatility in energy markets. Fuel margins recovered over previous year led by middle distillate cracks. Downstream chemicals continue to be impacted by overcapacity,” he said.
“Corrective steps by the industry stakeholders will help balance global downstream markets in the medium-term. Reliance’s operational delivery is supported by integrated assets, high mix of light-feed cracking, including a virtual ethane pipeline from the US, and strong focus on domestic markets,” he added.
“I am happy with the progress we are making in our new growth engines – new energy, media and consumer brands. I believe these businesses will build on Reliance’s legacy of creating industry leaders, focused on technology and innovation to provide Indian consumers the right products and services at the right price,” the CMD said.
“Our initiatives in the AI domain are aimed at ensuring Reliance stays at the forefront of evolving technologies and leverage these capabilities for the benefit of India and Indians,” he added.
Capital Expenditure for the quarter ended September 30, 2025, was ₹40,010 crore mainly towards investments in O2C capacity expansion, augmenting Jio Telecom network and Digital services, increasing retail footprint and building New Energy giga factories, the company said.
Published – October 17, 2025 09:22 pm IST
