Reliance Industries reports strong Q2 FY26 growth across key segments

Reliance Industries Limited reported a 14.6% YoY growth in consolidated EBITDA to ₹50,367 crore and a 14.3% YoY increase in net profit after tax to ₹22,092 crore for Q2 FY26. Consolidated revenue grew by 10.0% YoY to ₹283,548 crore. This robust performance was attributed to strong contributions from O2C, Jio, and Retail businesses, with all formats registering higher volume and sustained growth in the quick hyperlocal delivery model.

Jio Platforms notably saw its subscriber base surpass 500 million, reaching 506 million, and its EBITDA increased by 17.7% YoY to ₹18,757 crore, with a 140 bps margin expansion. Reliance Retail Ventures Limited also posted significant growth, with its EBITDA up 16.5% YoY to ₹6,816 crore and revenue increasing by 18.0% YoY to ₹90,018 crore. The company expanded its store network with 412 new openings, taking the total count to 19,821.

The Oil to Chemicals (O2C) segment achieved a 20.9% YoY EBITDA growth to ₹15,008 crore, with fuel cracks recovering sharply, and Jio-bp volumes increasing by 34%. Capital expenditure for the quarter reached ₹40,010 crore, primarily directed towards O2C capacity expansion, Jio Telecom network augmentation, digital services, retail footprint expansion, and New Energy giga factories, including the commissioning of 4 PV module lines and the first cell line in October 2025.