Reliance Industries Limited Reports Double-Digit Revenue Growth in Q4 Across O2C, Digital Services, and Retail Segments

Reliance Industries Reports Strong Quarterly Earnings

Mukesh Ambani-led Reliance Industries Ltd (RIL) reported a net profit of Rs 20,589 crore for the quarter ended March 31, 2026, marking a strong performance for the company. The conglomerate also declared a dividend of Rs 6 per share.

The company's O2C, Digital Services, and Retail segments each delivered double-digit revenue growth, contributing to the overall success. The quarterly earnings highlights several key achievements, including:

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Capital Expenditure and Net Debt

Reliance Industries' capital expenditure was at Rs 40,560 crore ($4.3 billion) in the March quarter, with full-year capex at Rs 1,44,271 crore ($15.2 billion). The company's net debt stood at Rs 1,24,717 crore, with a net debt to EBITDA ratio of 0.60x.

Jio Platforms' Performance

Jio Platforms' revenue was at Rs 44,928 crore, up 12.7% Y-o-Y, driven by strong subscriber additions, higher ARPU, and continued growth in digital services. The company's EBITDA in the March quarter was at Rs 20,060 crore, up 17.9% Y-o-Y, with an EBITDA margin of 52.4%. Jio's subscriber base stood at 524.4 million, with a net addition of 9.1 million during the quarter.

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Reliance Retail's Performance

Reliance Retail's gross revenue was at Rs 98,232 crore, up 10.8% Y-o-Y. The company's revenue from operations was up 11.1% Y-o-Y to Rs 87,344 crore. Reliance Retail's EBITDA was at Rs 6,921 crore, up 3.1% Y-o-Y, with an EBITDA margin of 7.9%.

O2C and Oil and Gas Segments

The O2C segment revenue was at Rs 1,84,944 crore ($19.5 billion), up 12.4% Y-o-Y, driven by a sharp increase in crude oil prices and higher volumes in domestic fuel retail. The Oil and Gas (E&P) segment's revenue was at Rs 5,867 crore, down 8.9% Y-o-Y, due to lower gas price realisation and lower gas volume from the KG-D6 field.

JioStar and JioHotstar

JioStar's revenue was at Rs 9,784 crore and PAT at Rs 420 crore. JioHotstar averaged 500 million Monthly Active Users during the quarter, with a TV entertainment viewership share of 34.2% and a reach of over 810 million viewers nationally. The platform also registered a peak concurrency of 72.5 million for the ICC Men's T20 World Cup 2026 Final, the highest ever for any property on the platform.