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Tue, 01 Sept 2026
11:50:44 am
Tue, 01 Sept 2026
11:50:44 am
Synopsis
Reliance Industries Q1 FY27 Results: RIL reports record ₹23,196 crore net profit, ₹3.40 lakh crore revenue, strong Jio and O2C growth, while Reliance Retail expands digital commerce despite margin pressure.
Reliance Industries Ltd. (RIL), India's largest listed company, reported a strong start to FY27 with record quarterly earnings despite global macroeconomic volatility and disruptions across energy markets. The Mukesh Ambani-led conglomerate posted its highest-ever recurring quarterly EBITDA and record quarterly profit, supported by robust performances from its Oil-to-Chemicals (O2C), Jio Platforms, and consumer businesses.
The June quarter once again highlighted Reliance's diversified business model, with strong contributions from its digital, retail, and energy businesses helping offset pressure in select segments.
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| Particulars | Q1 FY27 | YoY Change |
|---|---|---|
| Revenue | ₹3,40,257 crore | +24.5% |
| EBITDA | ₹54,067 crore | +10.1% |
| Profit Before Tax | ₹30,630 crore | +8.5% |
| Net Profit (PAT) | ₹23,196 crore | +6.1% |
| Finance Cost | ₹8,337 crore | +18.5% |
| Depreciation | ₹15,100 crore | +9.1% |
Source: Reliance Industries Q1 FY27 Investor Presentation
Reliance said the quarter was impacted by one of the biggest energy market disruptions globally, yet the company managed to deliver record profitability through operational flexibility and diversified earnings.
Key highlights include:
The O2C segment remained Reliance's largest earnings engine during the quarter.
| Metric | Q1 FY27 | YoY Change |
|---|---|---|
| Revenue | ₹2,01,803 crore | +30.4% |
| EBITDA | ₹17,010 crore | +17.2% |
The business benefited from:
However, profitability was partially impacted by fuel retail under-recoveries and SAED-related costs.
Jio remained one of Reliance's strongest growth engines, delivering healthy subscriber additions and improved profitability.
| Metric | Q1 FY27 | YoY Change |
|---|---|---|
| Gross Revenue | ₹45,961 crore | +12% |
| Operating Revenue | ₹39,173 crore | +11.8% |
| EBITDA | ₹20,865 crore | +15.1% |
| EBITDA Margin | 53.3% | +150 bps |
| PAT | ₹7,764 crore | +9.2% |
Jio strengthened its market leadership with:
Reliance Retail continued expanding its nationwide footprint while investing aggressively in digital commerce and hyperlocal delivery.
| Metric | Q1 FY27 | YoY Change |
|---|---|---|
| Gross Revenue | ₹90,408 crore | +7.4% |
| Net Revenue | ₹79,745 crore | +8.2% |
| EBITDA | ₹6,309 crore | -1.1% |
| EBITDA Margin | 7.9% | -80 bps |
| PAT | ₹2,805 crore | -14.1% |
Management attributed lower profitability to planned investments aimed at rapidly scaling digital commerce.
Reliance Retail now has:
Digital commerce remained a major focus area.
Highlights include:
Reliance said FY27 will focus on scaling online operations while improving unit economics before monetisation.
Reliance Retail also reported strong momentum across key consumption categories.
Reliance's upstream Oil & Gas business reported:
| Metric | Q1 FY27 | YoY Change |
|---|---|---|
| Revenue | ₹6,298 crore | +3.2% |
| EBITDA | ₹4,973 crore | -0.5% |
The business benefited from stronger oil prices, although lower KG-D6 gas production weighed on earnings.
| Business | EBITDA | YoY Growth |
|---|---|---|
| Oil-to-Chemicals | ₹17,010 crore | +17.2% |
| Digital Services | ₹21,255 crore | +16.1% |
| Retail | ₹6,309 crore | -1.1% |
| Oil & Gas | ₹4,973 crore | -0.5% |
Reliance maintained a healthy balance sheet while continuing heavy investments.
The company said capital expenditure continues across new energy, digital commerce, retail expansion and O2C projects.
The June-quarter results reinforce Reliance's diversified earnings profile, with Jio and O2C driving profitability while Retail focuses on long-term digital expansion.
Investors will now closely monitor:
Reliance Industries has delivered another quarter of strong execution, posting record recurring EBITDA and the highest-ever quarterly net profit despite global volatility. While near-term investments have weighed on retail margins, the company's diversified portfolio, leadership in telecom, dominant refining business, and continued investments in future growth areas position it well for long-term expansion.
Reliance reported a record consolidated net profit of ₹23,196 crore, up 6.1% year-on-year.
The company reported consolidated revenue of ₹3,40,257 crore, a 24.5% increase over the previous year.
Jio Platforms posted ₹45,961 crore in gross revenue and ₹20,865 crore EBITDA, supported by over 533 million subscribers.
Margins were impacted by planned investments in digital commerce, hyperlocal delivery infrastructure, and omnichannel expansion.
Oil-to-Chemicals and Digital Services were the biggest contributors, with EBITDA growing 17.2% and 16.1%, respectively.
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