Reliance Industries Reports Modest Q3 Profit Growth Amid Revenue Surge
Reliance Industries Limited (RIL) announced its financial results for the third quarter ending December 2025. The conglomerate posted a net profit of Rs 22,290 crore, marking a slight increase of 1.6% compared to Rs 21,930 crore in the same period last year. However, the net profit attributable to the company's owners saw a minimal rise of just 0.57%, reaching Rs 18,645 crore from Rs 18,540 crore a year earlier.
Gross revenue for the quarter showed stronger growth, climbing 10% to Rs 293,829 crore from Rs 267,186 crore in the previous year. This performance was primarily driven by the company's digital services and oil-to-chemicals (O2C) businesses.
Jio Platforms and O2C Business Lead Performance
Jio Platforms, the digital and telecom arm of Reliance, delivered robust results. It recorded an 11.2% increase in net profit to Rs 7,629 crore. Revenue for Jio Platforms grew by 12.7% to Rs 43,683 crore during the quarter. The operating revenue growth was fueled by strong subscriber additions, higher average revenue per user (ARPU), and the expansion of digital services.
The oil-to-chemicals segment also performed well, with EBITDA increasing by 14.6% year-on-year. This improvement was attributed to several factors:
- Sharp rise in transportation fuel cracks
- Higher volumes
- Improved sulphur realisation
These gains were partially offset by declining downstream chemical margins and increased feedstock freight rates.
Retail Arm Shows Steady Growth
Reliance Retail Ventures Limited, the company's retail division, reported a 2.7% increase in net profit to Rs 3,551 crore from Rs 3,458 crore a year ago. Revenue for the retail business rose by 8.1% to Rs 97,605 crore. The retail segment expanded its physical presence significantly, opening 431 new stores during the quarter. This brings the total store count to 19,979, covering 78.1 million square feet of operational area.
The registered customer base for Reliance Retail grew to 378 million, indicating continued consumer engagement across its vast network.
Operational Strategies and Market Conditions
RIL implemented several strategic measures to navigate market challenges. The company maximized refinery utilization to capture high margins in the O2C segment. Agile crude sourcing helped sustain operations despite procurement difficulties. International sanctions on Russian refiners further tightened global fuel markets, creating favorable conditions for Reliance's refining operations.
Mukesh Ambani, Chairman and Managing Director of RIL, commented on the results. He highlighted the robust growth in the O2C business, driven by significantly higher fuel margins and favorable demand-supply dynamics. "Reliance's strong cash flows and balance sheet strength have been recognized by international rating agencies," Ambani stated.
Regarding Jio's performance, Ambani emphasized the deepening digital ecosystem. "Jio's digital ecosystem is expanding its reach in Indian households. Through our mobility and broadband products, we are connecting mobile phones, homes, appliances, and enterprises," he said. The synergistic value from connectivity and media platforms has substantially increased customer engagement.
Employee Benefits and Future Considerations
The company reported employee benefit expenses of Rs 7,912 crore for Q3, up from Rs 7,155 crore a year ago. RIL noted that it will evaluate the impact of new Labour Code changes once Central and State governments notify all aspects of the Codes. Appropriate accounting treatment will be applied based on this evaluation.
On the stock market, RIL shares closed nearly flat at Rs 1,457.60 on the BSE, showing a marginal rise of 0.06% on Friday. The company's diversified business portfolio continues to demonstrate resilience amid evolving market conditions.
