Reliance Industries Q1 Results: Revenue Over ₹3 Lakh Cr for First Time; O2C, Jio Lead Operational Growth

Reliance Industries Ltd (RIL) reported its highest-ever quarterly revenue in the April-June period, with consolidated revenue crossing the ₹3 lakh crore mark for the first time.

The company posted revenue of ₹3.09 lakh crore in Q1 FY27, registering a 5.1% rise over the previous quarter and a 26.6% increase from the corresponding period last year, supported by stronger performances across its oil-to-chemicals (O2C), oil and gas, and digital services businesses.

Consolidated net profit stood at ₹20,946 crore, up from ₹16,971 crore in the March quarter, as per a report by CNBC-TV18. However, profit was lower than the ₹26,994 crore reported a year earlier, when earnings included a one-time gain of ₹8,924 crore from the sale of the company's stake in Asian Paints.

Consolidated EBITDA improved to ₹47,517 crore, compared with ₹44,141 crore in the preceding quarter and ₹42,905 crore a year earlier.

EBITDA margin also edged up sequentially to 15.4% from 15%, although it remained below the 17.6% recorded in the year-ago period.

O2C Business Drives Earnings Growth

The O2C segment was the company's strongest contributor during the quarter. Revenue from the business rose to ₹2.02 lakh crore, while EBITDA increased to ₹17,010 crore.

The segment's margin improved to 8.4%, helped by stronger middle distillate cracks and improved downstream petrochemical margins despite ongoing geopolitical uncertainty and supply chain disruptions.

The oil and gas business also posted stronger results, with revenue increasing to ₹6,298 crore and EBITDA reaching ₹4,973 crore, resulting in an EBITDA margin of 79%.

Reliance Retail generated ₹90,409 crore in revenue during the quarter, lower than the previous three months but higher than the year-ago period. EBITDA stood at ₹6,309 crore, while margins remained steady at 7%.

The company said growth across retail formats remained resilient, supported by its omni-channel strategy.

Jio Improves ARPU; IPO Plans Move Ahead

Reliance's digital business also recorded steady operational progress. The average revenue per user (ARPU) at Jio increased to ₹215.6 during the June quarter from ₹214 in the previous quarter and ₹208.8 a year earlier.

RIL Chairman and Managing Director Mukesh Ambani said all businesses delivered strong operating performance despite volatile commodity markets and continuing geopolitical tensions.

He highlighted 15% year-on-year earnings growth in digital services and noted that "Jio Platforms had filed its draft red herring prospectus (DRHP) with SEBI during the quarter, marking a significant step toward its planned IPO."

Ambani also said "Moody’s had upgraded Reliance’s foreign currency debt rating to 'Baa1', reflecting the strength of its cash flows and balance sheet."

Looking ahead, he expressed confidence in the group's growth prospects, citing the phased commissioning of new energy projects and value creation opportunities from the proposed Jio listing.