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RIL Q2 Results: O2C business posts record throughput; EBITDA rises 21% YoYReliance Industries Ltd (RIL) reported strong second-quarter results, with its oil-to-chemicals (O2C) business delivering record throughput of 20.8 million tonnes and a 21% year-on-year rise in EBITDA.By Sheersh Kapoor   October 17, 2025, 7:41:04 PM IST (Updated)2 Min ReadChoose  CNBC TV18 on Google

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Reliance Industries Ltd (RIL) reported a strong performance for the July-September quarter (Q2 FY26), driven primarily by robust growth in its oil-to-chemicals (O2C) business, supported by contributions from Jio and retail.

The O2C segment recorded revenue of ₹1.61 lakh crore, compared with ₹1.55 lakh crore in the previous quarter and ₹1.56 lakh crore a year earlier. Segment EBITDA (earnings before interest, tax, depreciation and amortisation) rose 21% year-on-year to ₹15,008 crore, while margins improved to 9.4% from 8% in the same period last year.

Reliance said the O2C business delivered its highest-ever quarterly throughput at 20.8 million tonnes, up 3% year-on-year, supported by sustained high utilisation at its Jamnagar refinery, stronger domestic fuel demand and a sharp recovery in transportation fuel margins.

The company added that economical sourcing of external power and high utilisation of its gasification complex helped contain costs, while aromatics production was optimised to maximise high-value transportation fuel output.

Chairman and Managing Director Mukesh D. Ambani said, “Reliance delivered a robust performance during 2QFY26 led by strong contribution from O2C, Jio and Retail businesses. Consolidated EBITDA registered 14.6% growth on a YoY basis, reflecting agile business operations, domestic-focused portfolio and structural growth in the Indian economy.”

On the O2C segment specifically, Ambani noted that “fuel margins recovered over the previous year led by middle distillate cracks. Downstream chemicals continue to be impacted by overcapacity, but corrective steps by industry stakeholders will help balance global markets in the medium term.”

Meanwhile, Reliance BP Mobility Ltd (Jio-bp) saw continued traction in its downstream retail operations, with high-speed diesel sales up 34.2% and motor spirit sales up 32.5% year-on-year—significantly outperforming industry averages.

Also Read: Reliance Industries delivers robust Q2 performance led by strong growth in consumer businesses

The network now comprises over 2,000 fuel outlets and 6,400 EV charging points across the country.

Naveen Kulkarni, Chief Investment Officer at Axis Securities, said the results exceeded expectations, highlighting the strong performance of the oil-to-chemicals segment.

"Clearly, the numbers are a beat on our expectations. For the oil-to-chemicals (O2C) business, we had projected an EBITDA of around ₹15,000 crore, which is broadly in line. However, this remains a very healthy outcome, reflecting nearly 30% year-on-year growth and about 4% sequential improvement," Kulkarni said.Continue ReadingNote To ReadersDisclaimer: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust that controls Network18, the parent company of CNBCTV18.com.First Published: Oct 17, 2025 7:40 PM ISTCheck out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!TagsearningsO2C businessQ2 resultsReliance IndustriesRIL earningsRIL Q2 resultsshare market today