Net profit attributable to shareholders rose marginally by 0.56% to ₹18,645 crore.“Reliance’s consolidated performance in the third quarter of FY26 reflects consistent financial performance and operational resilience across businesses,” said Chairman and Managing Director Mukesh Ambani.
As Jio’s digital ecosystem deepens its roots in Indian households, robust growth in the oil-to-chemicals sector has been led by significantly higher fuel margins, favorable supply-demand dynamics, along with operational flexibility, he said.
“Upstream segment EBITDA was impacted by lower volumes and prices,” Ambani said. “Reliance is entering a new phase of value creation with its AI and new energy initiatives.”
“Our diversified businesses are cash generating, they are profitable,” RIL Chief Financial Officer Srikanth Venkatachari said on a call. “Cash generation is happening despite an environment where we all see headwinds and global uncertainty. But you do see the power of a diversified business doing well.”
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Jio Platforms, which houses RIL’s telecom and digital businesses, posted a nearly 11.2% rise in third-quarter net profit to ₹7,629 crore, driven by a rise in 5G users and home broadband subscribers. Jio AirFiber has crossed 10 million subscribers, the fastest home broadband service to cross the threshold, the company said.
The total Jio subscriber base had earlier crossed the 500 million mark, making it the world’s second-largest single-country operator.
Fast-growing factories
At the end of December, the subscriber base stood at 515.3 million. Jio Platforms reported operating revenue growth of 12.7% year-on-year to ₹37,262 crore for the quarter on strong user additions in the mobility and home segments, and improvement in average revenue per user (ARPU).
Retail moderates
Reliance Retail Ventures (RRVL) posted a 2.7% increase in net profit to ₹3,551 crore, while revenue from operations rose 9.2% to ₹86,951 crore from the previous year. Gross sales rose 8.1% to ₹97,605 crore. The country’s largest retailer opened 431 new stores this quarter, bringing the total number to 19,979. It said the number of transactions has passed the 500 million mark.
RRVL’s quarterly EBITDA of ₹6,915 crore was 1.3% higher than the previous year.
Ambani said retail operations were strengthened with the introduction of new brands and product ranges. “With a broad and diverse product portfolio ranging from classic Indian brands to new labels, the consumer products vertical is progressing on its accelerated growth trajectory with a focused organizational structure,” he said.
Great benefits
The O2C business reported an EBITDA of ₹16,507 crore, up 14.6%, helped by stronger cracks in transportation fuel and higher volumes. Retail fuel volumes at Jio-bp rose sharply, with high-speed diesel volumes up 24.7% and petrol volumes up 20.8% year-on-year. The Jio-bp network grew from 1,865 to 2,125 outlets during the quarter.
Giant & Green
Reliance said it is rapidly scaling up its integrated solar and battery manufacturing. Solar module yields reached 95% last quarter, with solar cell production fully commissioned and ramped up using heterojunction technology. Pilot ingot and wafer plants are operational and are being expanded to gigawatt scale, in addition to polysilicon and solar glass plants, which are among the largest outside China.
At the Jamnagar complex in Gujarat, RIL is setting up a fully integrated solar manufacturing facility with an annual capacity of 10 GW, scalable up to 20 GW, in addition to energy storage systems starting at 40 GWh and expanding up to 100 GWh. This solar and battery capacity will support round-the-clock domestic power generation at RIL’s renewable energy site in Kutch, Gujarat, spread over 550,000 hectares.
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