Mumbai, October 18, 2025 – Reliance Industries Limited (RIL), India’s largest conglomerate by market capitalization, announced robust financial results for the second quarter of FY2025–26, with its consolidated net profit rising 16% year-on-year to ₹48,480 crore, supported by strong performances from its retail, digital (Jio), and oil-to-chemicals (O2C) divisions.
The company’s revenue climbed 10% to ₹2.6 lakh crore, driven by the continued recovery in energy markets and resilient consumer demand across its businesses. The results reaffirm RIL’s diversified business strength and adaptability in a changing economic environment.
Oil-to-Chemicals (O2C) Segment Drives Core Earnings
RIL’s traditional O2C segment reported a significant rebound, with operating profit up 21% to ₹15,008 crore, thanks to a sharp recovery in transportation fuel margins and an improvement in polymer spreads. The revenue from this vertical reached ₹1.6 lakh crore, up 3.2% from last year, despite volatility in global crude prices.
Chairman and Managing Director Mukesh Ambani stated that the growth highlights the company’s “agile business operations, domestic-focused portfolio, and structural growth in the Indian economy.”
Ambani added that “fuel margins recovered over the previous year, led by middle distillate cracks, while downstream chemicals were impacted by global overcapacity.” He expressed confidence that corrective steps by industry stakeholders would help balance the downstream markets over time.
Jio Continues to Lead in Digital Services
Reliance’s digital services arm, Jio, posted a 17% rise in operating profit to ₹18,882 crore, supported by subscriber growth and improved margins. Revenue also saw a healthy uptick as average revenue per user (ARPU) rose 8% year-on-year to ₹211.
The company’s subscriber base reached 506 million as of September 30, 2025, with a 30% increase in data usage and a 6% rise in voice traffic. Jio’s strong performance reinforces its dominance in the Indian telecom sector while highlighting its expanding presence in home broadband and enterprise solutions.
Retail Segment Booms with Festive and Lifestyle Demand
The Reliance Retail segment reported an 18% jump in revenue to ₹90,018 crore, with operating profit growing 16% to ₹6,817 crore. The company attributed this to a combination of festive season buying, new product launches, and strategic pricing in grocery, fashion, and consumer electronics.
Reliance Retail now operates over 19,800 stores across India, reflecting its aggressive expansion strategy and market reach. The business also benefited from GST rate cuts and higher consumer spending in urban and semi-urban areas.
Oil & Gas and Financials
The oil and gas segment saw a 5% decline in operating profit to ₹5,002 crore due to maintenance-related expenses and a natural decline in production. Revenue from the segment fell 2.6%, impacted by lower gas prices and reduced output.
As of Q2FY26, RIL’s net debt stood at ₹1.2 lakh crore, offset by ₹2.29 lakh crore in cash and cash equivalents. The company’s capital expenditure during the quarter totaled ₹40,010 crore, reflecting ongoing investments in its new energy, telecom infrastructure, and retail expansion projects.
Ambani Highlights RIL’s Long-Term Vision
Mukesh Ambani reiterated the company’s commitment to sustainable growth across its diversified portfolio. “Our integrated business model enables us to capture opportunities across energy, digital, and consumer ecosystems. The performance this quarter underscores our strong fundamentals and focus on innovation,” he said.
Industry experts view RIL’s Q2 results as a sign of its successful business diversification strategy. While global energy markets remain volatile, RIL’s consistent performance across verticals gives investors confidence in its long-term prospects.
Market Reaction and Future Outlook
Following the announcement, Reliance share prices are expected to remain buoyant as investors respond positively to the strong quarterly performance. Analysts predict continued growth momentum in Reliance Retail and Jio, with potential upside from the renewable energy and AI-driven technology initiatives in the coming quarters.
The Reliance results also highlight how the conglomerate has positioned itself at the center of India’s economic transformation—spanning digital connectivity, retail expansion, and sustainable energy.
As the festive season and rising domestic consumption continue to boost demand, Reliance Industries Q2 results demonstrate the company’s resilience and ability to deliver consistent shareholder value.
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