Reliance Industries delivered another record quarter as strong performances across its digital, retail and energy businesses pushed consolidated revenue above Rs 3.4 lakh crore, while Jio Platforms moved a step closer to its much-anticipated stock market debut.
Reliance Industries Limited reported consolidated revenue of Rs 3,40,257 crore for the quarter ended 30 June 2026, up 24.5 per cent from the corresponding period last year.
Recurring consolidated EBITDA rose 10.1 per cent to a record Rs 54,067 crore, while profit after tax increased 6.1 per cent to Rs 23,196 crore.
The company ended the quarter with cash and cash equivalents of Rs 2,46,791 crore, against total debt of Rs 3,69,705 crore, providing significant financial flexibility despite continued investment across businesses.
Capital expenditure during the quarter stood at Rs 38,682 crore, with investments directed towards digital infrastructure and new energy projects.
The biggest strategic development during the quarter came from Jio Platforms Limited, which officially filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India, marking the first formal step towards its initial public offering.
The digital business reported quarterly revenue of Rs 45,961 crore, up 12 per cent year on year.
Operating revenue increased 11.8 per cent, while operating EBITDA margin reached a record 53.3 per cent.
Jio’s subscriber base expanded to 533.3 million, including 285 million True5G users.
Network usage continued to rise sharply, with total data traffic increasing 26.9 per cent to 69.4 exabytes during the quarter.
Average monthly data consumption reached 43.7 GB per user, underlining growing demand for high-speed mobile services.
The company’s fixed broadband subscriber base grew to 28.6 million, with Jio AirFiber accounting for more than 75 per cent of the 8.6 million broadband connections added over the past year.
Reliance also highlighted Jio’s innovation efforts, noting that the company climbed 320 places to enter the top 20 globally in the Patent Cooperation Treaty rankings published by the World Intellectual Property Organization, reflecting its investments in 5G, 6G and artificial intelligence technologies.
Reliance Retail Ventures Limited continued its expansion across physical and digital channels.
Quarterly gross revenue increased 7.4 per cent to Rs 90,408 crore.
Excluding the impact of the demerger of its consumer brands business, underlying revenue growth stood at 11.6 per cent, driven by grocery, fashion and consumer electronics.
The retailer now serves 396 million registered customers and processed 568 million transactions during the quarter, representing 46 per cent growth over the previous year.
Reliance opened 252 new stores, taking its nationwide network to 20,169 stores covering 78.4 million square feet of retail space.
Operating EBITDA, however, declined 1.1 per cent to Rs 6,309 crore, while EBITDA margin softened by 80 basis points to 7.9 per cent.
The company attributed the moderation to continued investments in digital commerce platforms including JioMart and Ajio.
Those investments continued to generate strong digital growth.
Online grocery orders surged 116 per cent year on year, while omni-channel customers spent 2.7 times more than customers shopping only through physical stores.
Reliance’s Oil-to-Chemicals (O2C) business reported revenue of Rs 2,01,803 crore, an increase of 30.4 per cent over the previous year.
The business benefited from a sharp increase in crude oil prices, with Dated Brent averaging US$104.5 per barrel, following disruption caused by the closure of the Strait of Hormuz.
Despite planned maintenance shutdowns and lower domestic production, O2C EBITDA increased 17.2 per cent to Rs 17,010 crore, supported by stronger transportation fuel margins and favourable ethane cracking economics.
Domestic demand remained under pressure during the quarter.
Polymer demand declined 21.7 per cent, while polyester demand fell 18.1 per cent, reflecting supply disruptions, higher feedstock costs and labour shortages.
The company also absorbed under-recoveries by diverting propane and butane supplies to increase domestic LPG production across its 2,221 Jio-bp fuel stations, while the reintroduction of the Special Additional Excise Duty on diesel, petrol and aviation turbine fuel also weighed on earnings.
Reliance’s upstream oil and gas business generated more than Rs 3,200 crore in revenue during the quarter.
Higher price realisations from KG-D6 liquids helped offset lower gas production volumes, allowing the business to maintain stable earnings despite lower output.
Reliance Industries Limited, chairman and managing director, Mukesh Ambani described Jio’s IPO filing as an important milestone that would unlock value for shareholders while enabling wider investor participation in India’s digital growth story.
With Jio preparing for a public listing, retail continuing to expand its physical and online presence, and the energy business benefiting from higher crude prices despite global disruptions, Reliance has entered FY27 with strong momentum. Continued investments in artificial intelligence, digital infrastructure and new energy projects indicate the conglomerate remains focused on building its next phase of long-term growth.