Reliance Industries Q4 & FY26 Results: Consolidated net profit declines 12.55% in the March 2026 quarter

India’s largest public company, Reliance Industries limited has announed its fourth quarter ending March 2025 and FY26 results. The share of Reliance Industries was trading at Rs 1,331.00 on Friday.

Net profit of Reliance Industries declined 12.55% to Rs 16,971 crore in the quarter ended March 2026 as against Rs 19,407 crore during the previous quarter ended March 2025. Sales rose 12.50% to Rs 294,059 crore in the quarter ended March 2026 as against Rs 261,388 crore during the previous quarter ended March 2025.

For the full year,net profit rose 15.98% to Rs 80,775 crore in the year ended March 2026 as against Rs 69,648 crore during the previous year ended March 2025. Sales rose 9.59% to Rs 10,57,219 crore in the year ended March 2026 as against Rs 9,64,693 crore during the previous year ended March 2025.

Segment performance of Reliance Industries Ltd ????????

???? Jio Platforms (Digital)

Financials (FY26):

• Revenue: ₹1,46,885 Cr (+14.6%)
• EBITDA: ₹76,255 Cr (+18.8%)
• PAT: ₹30,049 Cr (+15.1%)
• EBITDA Margin: 52%
• 524M subscribers
• 268M+ 5G users
• ARPU: ₹214 (+4% YoY)
• Data traffic: +30% YoY

Bottom line: Strong momentum in 5G and fixed broadband additions with over 77 million and 10 million net additions, respectively, during FY26. Per capita data consumption continues the upward trend to 42.3 GB per month.

????️ Retail

Financials (FY26):

• Revenue: ₹3,70,026 Cr (+12% YoY)
• EBITDA: ₹27,033 Cr (+8%)
• PAT: ₹13,838 Cr (+12%)
• EBITDA Margin: 8.3%
• 387M customers (+11% YoY)
• 1.93B transactions (+39%)
• 20,160 stores
• Hyperlocal orders: +300% YoY

Bottom line: Steady performance was led by festive demand and big box stores’ expansion. The segment crossed the 1,000 stores milestone. The Health & Convenience categories are gaining traction. Cup Bhel, frozen rotis, ready sprouts, and ready-to-eat chutneys are driving consumption growth.

???? FMCG (RCPL)

Financials (FY26):

• Revenue: ₹22,000 Cr (2x YoY)
• Campa Cola: ₹4,700+ Cr revenue
• Independence brand: ₹2,600 Cr revenue
• 3M+ retail outlets
• Presence in 40+ countries

Bottom Line: Rapid scale-up across FMCG categories. Water business has scaled to make RCPL as India’s 3rd largest branded water player. International presence now across 40+ countries.

???? Media & Entertainment (JioHotsatr)

Financials (FY26):

• Revenue: ₹31,048 Cr
• EBITDA: ₹4,885 Cr
• EBITDA Margin: 15.7%
• 500 Mn Monthly Active Users (+10% QoQ)
• Record sports engagement (IPL, WC)

Bottom line: Strong digital ad and subscription growth along with high user engagement. TV entertainment ad revenue remained under pressure due to continued spend cuts by FMCG.

????️ Oil-to-Chemicals (O2C)

Financials (FY26):

• Revenue: ₹6,62,401 Cr (+5.7%)
• EBITDA: ₹60,546 Cr (+10.1%)
• EBITDA Margin: 9.1%
• Q4 EBITDA: 14,520 (-3.7% YoY)
• Q4EBITDA Margin: 7.9% (-130 bps)
• JIP-bp: 2,199 Retail Outlets & 6,2816,281

Bottom line:  Margin remained under pressure from high crude premiums, logistics costs, and windfall taxes (SAED). Weak chemical margins.

⛽ Oil & Gas

Financials (FY26):

• Revenue: ₹23,861 Cr (↓ 5.4%)
• EBITDA: ₹19,050 Cr (↓ 10.1%)
• EBITDA Margin: ~79.8%
• Q4 EBITDA: ₹ 4,195 Cr (-18.1% YoY)
• KG-D6 production declining
• CBM growth +10%

Bottom line: High-margin business with stable operations. However, the quarter saw declining production volumes with lower price realization.

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