Mukesh Ambani-led Reliance Industries has declared its Q2FY26 numbers. The net profit has risen 9.67% to Rs 18,165 crore Vs Rs 16,563 crore a year age (Q2FY25). Revenue for the second quarter of this financial year stood at Rs 2,58,898 crore Vs Rs 2,35,481 crore, up 9.94% in Q2FY25.
Speaking on the numbers, Mukesh D Ambani, Chairman and Managing Director, Reliance Industries, said “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. In 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.”
Speaking on RIL’s Q2 performance in the O2C business, Ambani added that, “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. 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.”
Reliance Industries’ Q1FY26 highlights
Reliance Industries reported a net profit of Rs 26,944 crore in Q1 FY26, growing 78.3% YoY. Revenue from operations stood at Rs 2,48,660 crore in the quarter. Oil-to-Chemicals (O2C) revenue declined approximately 1.5 % YoY
The one-off gain of Rs 8,924 crore (from the Asian Paints stake sale) was a key contributor to the steep jump in reported PAT for Q1 FY26.
Reliance Q2 Earnings LIVE, Reliance Q2FY26 Results, Share Price LIVE Updates:
Reliance Q2 Results LIVE Updates: Key highlights
Overall Performance
Consolidated net profit: Rs 18,165 crore, up 9.67% YoY
Revenue: Rs 2,83,548 crore, up 9.9% YoY
Consolidated EBITDA: Rs 50,367 crore, up 14.6% YoY
Capex: Rs 40,010 crore, mainly for O2C expansion, Jio network, retail footprint, and new energy giga factories.
Jio Platforms Limited (JPL)
Revenue: Rs 42,652 crore, up 14.9% YoY
EBITDA: Rs 18,757 crore, up 17.7% YoY, margin 51.6%
Subscribers: 506 million
ARPU: Rs 211.4, up 8.4% YoY
Data traffic: 58.4 billion GB, up 29.8% YoY
Reliance Retail Ventures Limited (RRVL)
Revenue: Rs 90,018 crore, up 18.0% YoY
EBITDA: Rs 6,816 crore, up 16.5% YoY
New Stores: 412 added; total 19,821 stores, 77.8 mn sq. ft. area
Revenue: Rs 7,232 crore
EBITDA: Rs 1,738 crore, margin 28.1%
Viewership:
*830 million viewers, 60 billion hours watch time on TV
*JioHotstar: 400 million MAUs
Reliance Q2 Results LIVE Updates: Reliance-BP JV scales up with 2,057 outlets
Jio-bp, a joint venture between Reliance Industries and BP (British Petroleum) operated 2,057 fuel retail outlets, up from 1,821 a year earlier, and recorded a 34.2% increase in diesel (HSD) sales and a 32.5% rise in petrol (MS) sales.
Network expanded to 2,057 outlets
Diesel (HSD) volumes up 34%, petrol (MS) up 32% YoY
Established 6,400 EV charging points at 850 sites
Reliance Q2 Results LIVE Updates: GST rate changes will further accelerate consumption growth,' Isha Ambani
Isha Ambani, Executive Director, Reliance Retail Ventures , said “Reliance Retail delivered strong performance during the quarter led by our relentless focus on operational excellence, investments in stores and digital platforms and festive buying across consumption baskets. GST rate changes will further accelerate consumption growth as consumers get the benefit of lower prices. Our success is a testament to our deep understanding of the consumer. We consistently innovate, from curating new collections to creating campaigns that connect with today's Indian consumer, and our focus remains on building brands that inspire and resonate across India".
Akash Ambani, Chairman of Reliance Jio Infocomm, said, “Jio has proudly served over 500 million subscribers addressing multiple digital needs of their everyday life. This has been possible due to Jio's Deep-Tech initiatives which have sparked India's technological revolution and have become the backbone of our Prime Minister's Digital India Mission. Jio will continue to bring new age technologies and enhance the life of every Indian citizen. Jio has successfully delivered its indigenous technology stack at India scale and is now set to take our homegrown technology around the world.”
Reliance Industries executive said JioFrames will be launched in the market in the next few months, according to Reuters.
JioFrames is Reliance Jio’s latest step into the wearable tech space, representing its vision to merge connectivity, artificial intelligence, and everyday life. The smart glasses — available in Audio and Audio + Camera variants — are powered entirely by Jio’s in-house AI ecosystem, from hardware to operating system.
Reliance Industries Chairman Mukesh 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. 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."
Mukesh Ambani, Chairman and Managing Director of Reliance Industries said, “Reliance delivered a robust performance during 2QFY26 led by strong contribution from O2C, Jio and Retail businesses. Consolidated EBITDA registered 14.6% growth on a YoY basis, reflecting agile business operations, domestic focused portfolio and structural growth in Indian economy."
Revenue: Rs 6,058 crore, down2.6% YoY
EBITDA: Rs 5,002 crore, down 5.4% YoY
KGD6 gas production: 26.1 MMSCMD
KGD6 gas price: $9.97/MMBTU (vs $9.55 in Q2FY25)
Revenue at Rs 160,558 crore, up 3.2% YoY
EBITDA at Rs 15,008 crore, up 20.9% YoY
Exports at Rs 70,955 crore
Revenue: Rs 90,018 crore, up 18.0% YoY
EBITDA: Rs 6,816 crore, up 16.5% YoY
New Stores: 412 added; total 19,821 stores, 77.8 mn sq. ft. area
Revenue at Rs 42,652 crore, up 14.9% Y-o-Y
EBITDA at Rs 18,757 crore, up 17.7% Y-o-Y
Subscribers: 506 million (crossed 500 million milestone)
ARPU: Rs 211.4, up 8.4% YoY
Data traffic: 58.4 billion GB, up 29.8% YoY
Reliance Q2 Results LIVE Updates: Key Highlights
Consolidated EBITDA up 14.6% Y-o-Y
EBITDA Margin at 17.8%
O2C EBITDA up 20.9% at Rs 15,008 crore
On a sequential basis, the consolidated net profit declined 32.71% from the previous quarter, which was Rs 26,994 crore.
Revenue rose 4.12% from Rs 248,660 crore in Q1FY26.
It is important to note that in the previous quarter, Reliance reported a one-off gain of Rs 8,924 crore from the sale of its stake in Asian Paints, which was a key contributor to the reported PAT for Q1 FY26.Revenue for the second quarter of this financial year stood at Rs 258,898 crore Vs Rs 235,481 crore in Q2FY25, marking an increase of 9.94%.
Reliance Industries posted a 9.6% year-on-year rise in consolidated net profit to Rs 18,165 crore for the second quarter of FY26, compared to Rs 16,563 crore in the same period last year (Q2FY25).
Reliance Q2 Results LIVE Updates: Key factors to watch out for
1. O2C / Refining & Petrochemicals Margins
2. Any update on Jio tariff hike, subscriber additions and IPO
3. Margins in retail business
4. Announcement on AI
During its 48th Annual General Meeting(AGM), the retail arm of Reliance said that Reliance Retail is targeting a growth rate of over 20% CAGR over the next three years.
The company has expanded its footprint to 19,340 stores across 7,000 towns, strengthening its presence nationwide.
During the previous quarter results (Q1FY26), Reliance Industries’ chairman, Mukesh Ambani, said that the company’s business is expected to double every 4 to 5 years.
He added, “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.”
In the previous quarter, Reliance Industries’ Oil and Gas (Exploration and Production) segment recorded quarterly revenue at Rs 6,103 crore ($712 million), down 1.2% on-year, mainly on account of lower sales volume of KGD6 gas in line with natural decline in production. RIL, in the regulatory filing, said that revenue was also impacted by lower gas price for CBM gas and lower crude price realisation. This was partly offset by higher KGD6 gas price.
Reliance Q2 Results LIVE Updates: Reliance Q2 PAT likely to rise 8% YoY
ICICI Securities expects RIL’s PAT to rise by 8% year-on-Year. “Reliance Industries is likely to see a sharp increase (10%) in retail segment earnings y-o-y. Jio may deliver a 14.2/2.9% y-o-y/q-o-q rise in Ebitda. The O2C segment to improve by 18% y-o-y while q-o-q trends are flattish, with muted margins partly offset by higher throughput,” the brokerage said.
Reliance Q2 Results LIVE Updates: Axis Capital expects RIL to post a 10% YoY
Axis Capital expects Reliance Industries Limited (RIL) to post a 10% year-on-year (YoY) rise in consolidated revenue for the second quarter of FY26, estimating it at around Rs 2,58,200 crore.
"We expect retail to deliver robust growth, partially aided by a favourable base, and Jio to gain from healthy subscriber additions, Arpu (average revenue per user) uptick, and growing FWA (fixed wireless access) traction. The O2C Ebitda should rise marginally on better refining performance, though partially offset by some weakness in petchem," Axis Capital said.
Reliance Q2 Results LIVE Updates: Reliance AGM highlights (Part-2)
Reliance Industries announced new collaborations with Google and Meta to boost its artificial intelligence initiatives in India.
1. The company has expanded its partnership with Google Cloud to establish a dedicated AI-focused cloud region in Jamnagar, which will be powered by green energy and supported by Jio’s advanced digital network.
2. In addition, Reliance is forming a joint venture with Meta to develop enterprise AI solutions in India. The venture will see an initial investment of around Rs 855 crore ($100 million), with Reliance holding a 70% stake and Meta the remaining 30%.
Reliance Q2 Results LIVE Updates: Reliance AGM highlights
Reliance Industries held its 48th annual general meeting (AGM) on August 29, where Chairman Mukesh Ambani made several key announcements.
1. Reliance Jio is preparing to go public. “Jio is making all arrangements to file for its IPO. We are aiming to list Jio by the first half of 2026, subject to all necessary approvals,” Mukesh Ambani said.
2. The company has also launched a new wholly owned subsidiary, Reliance Intelligence, to house AI-ready data centres, services, and talent.
Segment Highlights- Jio Platforms (Digital Services)
In the media release of Q1FY26, the company announced that it has launched JioGames Cloud. “A cutting-edge cloud gaming platform that allows anyone with a smartphone or a regular laptop/desktop or Jio-STB to play high-end console-quality games without needing any additional hardware,” the company said in the release.
During the quarter, Jio also introduced JioPC, next-gen AI ready cloud computer.
Segment Highlights- Jio Platforms (Digital Services)
Revenue: Rs 41,054 crore, up 18.8% YoY
EBITDA: Rs 18,135 crore, up 23.9% YoY
EBITDA margin: 51.8%, up 210 bps
Subscribers: 498 million total; 9.9 million net adds
ARPU: Rs 208.8 (up 14.9% YoY)
5G subscribers: Crossed 200 million
Reliance Q2 Results LIVE Updates: JPMorgan expects 14% rise in EBITDA
JPMorgan expects Reliance to report 14% yoy growth in consolidated EBITDA.
“We expect Reliance Retail to deliver 10% y-o-y EBITDA growth, contained to some degree by the GST cuts announced in early September. RIL’s Q2FY26 net profit growth is likely to be softer, though (JPMorgan estimate of 12%), due to anticipated increases in DDA (depreciation, depletion, and amortisation), interest and minority interest,” it said.
Reliance Q2 Results LIVE Updates: Q1FY26 Recap (Part-2)
– Jio surpasses 200 million 5G subscribers, 20 million home connections
– Jio Platforms EBITDA up 24% YoY at Rs 18,135 crore, margin up 210 bps
– Reliance Retail EBITDA up 13% YoY at Rs 6,381 crore, industry leading EBITDA margin
– JioMart Quick hyper-local daily orders up 175% YoY and 68% QoQ
– Jio-bp Transportation fuels volumes up sharply by 35%, supporting O2C EBITDA growth
– JioHotstar delivers biggest ever IPL, averaged 460 million+ MAUs
Reliance Q2 Results LIVE Updates: Share price
The share price of Reliance Industries (RIL) opened in green today. The stock is up 1.33% intra-day. Over the last 6 months, Reliance has gained 11.18%.
Reliance Q2 Results LIVE Updates: Q1FY26 Recap (Part-1)
* Gross revenue: Rs 2,73,252 crore, up 6% YoY
* EBITDA: Rs 58,024 crore, up 35.7% YoY (highest ever)
* EBITDA margin: 21.2% (up 460 bps YoY)
* Net profit (PAT): Rs 26,994 crore, up 78.32 YoY