Reliance Industries Ltd (RIL) reported a record annual financial performance for FY26, with consolidated profit after tax (PAT) rising 18.3 per cent year-on-year (YoY) to Rs 95,610 crore, driven by strong growth in digital services and retail businesses. Consolidated revenue for the year stood at Rs 11,75,919 crore, up 9.8 per cent YoY, while EBITDA increased 13.4 per cent to Rs 2,07,911 crore, according to the company’s media release.
However, on a quarterly basis, RIL reported a decline in profitability. The company’s PAT for the January–March quarter (Q4 FY26) fell 8.1 per cent YoY to Rs 20,616 crore, compared to Rs 22,434 crore in the year-ago period, reflecting pressure from its energy businesses.
RIL’s consolidated revenue for Q4 FY26 rose 12.9 per cent YoY to Rs 3,25,290 crore, supported by double-digit growth across oil-to-chemicals (O2C), digital services and retail segments.
Despite the robust topline growth, EBITDA for the quarter remained largely flat at ₹48,588 crore, as gains in telecom and retail were offset by weaker performance in energy businesses amid volatile global conditions.
The company’s digital arm, Jio Platforms, continued to be a key growth driver, with Q4 EBITDA rising 17.9 per cent YoY to Rs 20,060 crore. Jio’s subscriber base crossed 524 million, including 268 million 5G users.
Reliance Retail also delivered steady growth, with Q4 EBITDA up 3.1 per cent YoY to Rs 6,921 crore. The business expanded its footprint, crossing 20,000 stores during the quarter.
The O2C business saw mixed performance, with quarterly EBITDA declining 3.7 per cent YoY despite higher revenues, as rising crude premiums, elevated freight costs and geopolitical disruptions weighed on margins.
The oil and gas segment also reported weakness, with Q4 EBITDA falling 18.1 per cent YoY due to lower production and realisations.
RIL’s capital expenditure for FY26 stood at Rs 1,44,271 crore, reflecting continued investments in telecom, retail and new energy businesses. Net debt rose to Rs 1,24,717 crore, with a net debt-to-EBITDA ratio of 0.64.