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Reliance Industries Q4 results 2026 Highlights: Mukesh Ambani-led oil-to-telecom conglomerate Reliance Industries announced its March quarter results for FY26 on Friday, 24 April.

The company posted a decline of 13% year-on-year (YoY) in the consolidated net profit (attributable to owners) to ₹16,971 crore during the quarter under review. Meanwhile, the figure stood at ₹19,407 crore in the same period a year ago.

The company's consolidated revenue from operations witnessed a 13% uptick to ₹298,621 crore in Q4FY26 from ₹264,573 crore in Q4FY25.

Reliance Retail Venture Ltd, the retail arm of Reliance Industries, reported a marginal increase of 0.5 per cent in profit after tax to ₹3,563 crore in the March quarter, while its gross revenue for the period was up 10.84% to ₹98,232 crore.

Jio Platforms posted a 13% increase in profit to ₹7,935 crore in the March quarter. Its revenue from operations during the quarter increased 12.5% to ₹38,259 crore from ₹33,986 crore in the year-ago period.

Reliance Industries also announced a dividend of ₹6 per share. Ahead of the earnings announcement, RIL share price closed 1% lower on the BSE today.

Recent events have underscored the critical need of energy security. I am happy that Reliance is making rapid progress in operationalizing its New Energy giga-factories. This business will emerge as a powerful growth engine for Reliance and a transformative contributor to India’s energy future.

— Mukesh Ambani

In the oil and gas exploration business, quarterly revenue was at ₹5,867 crore ($619 million), down 8.9% YoY. Meanwhile, quarterly EBITDA came in at ₹4,195 crore ($ 442 million), down 18.1% YoY.

The revenue was impacted by lower gas price realisation in KGD6 and CBM and, lower Gas volume in KGD6 field. EBITDA was hurt basis due to lower revenue coupled with higher operating cost due to maintenance activity and Government levies.

The average price realised for KGD6 gas was $ 9.63/MMBTU in 4Q FY26 vis-à-vis $ 10.09/MMBTU in 4Q FY25. The average price realised for CBM gas was $ 9.01/MMBTU in 4Q FY26 vis-à-vis $10.36/MMBTU in 4Q FY25.

Global refinery crude throughput was higher by 0.3 mb/d YoY at 82.5 mb/d in Q4FY26. Meanwhile, domestic polymer demand witnessed marginal growth of 0.3% YoY and domestic polyester demand increased by 0.7% YoY.

O2C business saw a 12.4% YoY rise in revenue to ₹184,944 crore, mainly due to sharp increase in crude oil prices by 12% Y-o-Y and higher volumes in domestic fuel retail.

The EBITDA was lower by 3.7% YoY at ₹14,520 crore while margins declined 130 bps YoY to 7.9% despite strength in transportation fuel cracks. Multiple headwinds curtailed margin capture including sharp rise in crude premiums on physical barrels, elevated freight and insurance cost and higher fuel cost.

Further, in order to protect domestic consumers, RIL diverted propane / butane to boost LPG output and KGD6 gas to priority sectors. RIL also held fuel prices at retail outlets, leading to under recoveries in fuel retailing. Reintroduction of SAED on exports of Diesel and ATF also impacted earnings. Weak polymer deltas with sharp increase in feedstock and energy cost weighed on segment profitability.

Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited, said: FY26 marks a year of profitable growth at scale for Reliance Retail. Revenue crossed ₹ 3.70 lakh crore, EBITDA crossed ₹27,000 crore, and we served 387 million registered customers across 1.93 billion transactions - underlining the enduring strength of India's largest retail franchise.

The most significant shift this year was structural. Hyper-local commerce orders grew more than fourfold year-on-year. We operate India's widest hyper-local delivery network across grocery, electronics and fashion - powered by 3,100+ stores across 1,200+ cities and 5,100+ pin codes. This is a uniquely Indian platform, built on a uniquely Reliance scale-advantage.

As we enter FY27, our focus is on converting this unmatched reach into deeper customer value - through AI-embedded merchandising, sharper pricing architecture, and disciplined execution. The balance sheet is strong and our leadership across categories is widening. We are building Reliance Retail for a decade of sustainable, profitable growth.

Reliance Retail posted a profit after tax of ₹3,463 crore in Q4FY26, which was largely unchanged against ₹3,545 crore posted in the same period last year. However, revenue rose 11.1% to ₹87,344 crore on a year-on-year basis.

EBITDA from operations was at ₹6,921 crore, up 3.1% YoY. EBITDA margin dipped by 60 bps to 7.9%.

During the quarter, Reliance Retial opened 333 new stores with total store count at 20,160 stores and area under operation at 78.3 million sq. ft. The registered customer base grew to 387 million, making Reliance Retail one of the most preferred retailers in the country, according to the press release.

Total transactions recorded were at 585 million, up 62.0% YoY in Q4FY26.

Akash M Ambani, Chairman of Reliance Jio Infocomm, said, “Jio played a crucial role in connecting India to the Internet era and with over 524 million subscribers across India is now positioned as the digital gateway to the Intelligence era. Jio's state-of-the-art connectivity and edge compute infrastructure make it the principal gateway through which AI services reach Indian consumers, households and businesses. This will sustain Jio's industry-leading growth for many years to come.”

Jio Platforms reported a 13% increase in profit after tax (PAT) to ₹7,935 crore in the March quarter, Reliance Industries Ltd said in a company filing on Friday. The company had posted a PAT of ₹7,022 crore in the year-ago period.

The revenue from operations rose 12.6% to ₹38,259 crore in the January-March period of FY26 from ₹39,853 crore in the same period last year.

The company added that ARPU — a key metric for telecom companies — increased to ₹ 214.0 with higher customer engagement and better subscriber mix, partly impacted by a lower number of days in the quarter. Monthly churn was stable at 1.7% with net subscriber addition of 9.1 million during the quarter.

For the full financial year, RIL record annual consolidated revenue growth of 9.8% YoY to ₹1,175,919 crore. Meanwhile, EBITDA and PAT were higher by 13.4% and 18.3% at ₹207,911 crore and ₹95,610 crore, respectively.

Jio continues to transform India’s digital landscape. I am happy to note that we are advancing steadily towards the listing of Jio Platforms. This will mark a defining milestone in its journey as it continues to scale new heights and contribute to India’s digital future.

Robust full-year EBITDA growth of 19% was driven by continuing traction in mobility, home broadband and enterprise services. As we work to democratize access to AI tools and next-generation technology platforms, Jio is well placed to shape how India communicates, computes and consumes content in the years ahead.

Through fiscal FY2025-26 we faced geopolitical disruptions, volatile energy prices and shifting global trade patterns. These headwinds weighed on businesses across the world. India held its economic growth course through all this, as did Reliance. The breadth of our portfolio and strong domestic orientation helped navigate volatility in the external environment.

Gross Revenue increased by 12.9% YoY to ₹ 325,290 crore ($ 34.3 billion). Strong business momentum across O2C, Digital Services and Retail delivered double-digit revenue growth in each of these segments. Oil and Gas segment revenue decreased in line with the natural decline in KG D6 gas production, said RIL.

Consolidated EBITDA for the quarter was stable at ₹48,588 crore ($ 5.1 billion), down only 0.3% YoY. Strong earnings growth in Digital Services and positive contribution from Retail was offset by decline in energy businesses, the company said.

Reliance Industries' board also recommended a dividend of ₹6.00 per equity share of Rs. 10/- each for the financial year ended March 31, 2026.

Despite the fall in Q4 profit, revenue for the period came in at ₹298,621 crore. The figure was higher by 12.86% YoY from ₹264,573 crore.

RIL's Q4 PAT declined by 12.55% YoY to ₹16,971 crore during the quarter under review. The company had posted a consolidated profit of ₹19,407 crore in the same period last year.

Emkay Global expects Jio to net add 8 million subscribers in Q4, with ARPU expected to rise to ₹216 and EBITDA by 3% QoQ.

Bloomberg recently reported that Reliance Industries is likely to file draft paperwork for the initial public offering of Jio Platforms Ltd. in May

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