Reliance Industries Limited (RIL) has reported a steady financial and operational performance for the quarter ended December 31, 2025 (Q3 FY26), driven by strong growth in its digital services and Oil-to-Chemicals (O2C) businesses.
Consolidated EBITDA for the quarter rose 6.1% year-on-year to Rs. 50,932 crore, while gross revenue increased 10% to Rs. 2,93,829 crore. Profit after tax and share of profit from associates stood at Rs. 22,290 crore, up 1.6% year-on-year.
According to company release, for the nine months ended December 2025, consolidated EBITDA grew 18.3% year-on-year to Rs. 1,59,323 crore, while profit after tax rose 28.1% to Rs. 75,165 crore, underscoring the company’s resilient operating performance across business segments. Net debt-to-EBITDA remained comfortable at 0.57x, reflecting balance sheet strength.
Digital and Connectivity Power Growth
Jio Platforms Limited continued to be a key growth engine, reporting quarterly EBITDA of Rs.19,303 crore, a robust 16.4% year-on-year increase, supported by operating leverage and margin expansion of 170 basis points. Quarterly revenue rose 12.7% to Rs. 43,683 crore.
Jio’s total subscriber base crossed 515 million, with 5G subscribers surpassing 250 million during the quarter. Fixed broadband connections exceeded 25 million, while Jio AirFiber became the world’s first fixed wireless access service to cross 10 million subscribers. Data traffic surged 34% year-on-year to over 62 exabytes, reflecting rising digital adoption. Average revenue per user (ARPU) increased to Rs. 213.7 per month.
Commenting on the results, Chairman and Managing Director Mukesh Ambani said Jio’s expanding digital ecosystem is deepening its presence in Indian households by connecting mobility, broadband, devices and enterprises through an indigenous technology stack tailored for Indian markets.
Retail Delivers Resilient Performance
Reliance Retail Ventures Limited (RRVL) reported quarterly revenue of Rs. 97,605 crore, up 8.1% year-on-year, supported by festive and wedding season demand. EBITDA stood at Rs. 6,915 crore, marginally higher by 1.3% year-on-year, with an EBITDA margin of 8%.
During the quarter, Reliance Retail crossed the milestone of 500 million transactions and added 431 new stores, taking the total store count to 19,979. The registered customer base grew to 378 million. The company’s hyper-local delivery business saw strong traction, with average daily orders rising more than four-fold year-on-year, making JioMart one of the fastest-growing players in quick commerce.
The demerger of the consumer products business was completed during the quarter, enabling sharper focus and accelerated growth across categories ranging from grocery and fashion to consumer electronics and jewellery.
O2C Segment Benefits from Strong Fuel Margins
The O2C business posted quarterly revenue of Rs. 1,62,095 crore, up 8.4% year-on-year, while EBITDA rose 14.6% to Rs. 16,507 crore, aided by improved transportation fuel cracks and higher volumes. EBITDA margin expanded by 60 basis points to 10.2%.
Fuel retailing operations under the Jio-bp brand continued to expand, with the network growing 14% year-on-year to 2,125 outlets. Jio-bp recorded volume growth of 24.7% in high-speed diesel and 20.8% in petrol, significantly outperforming industry averages.
Oil & Gas and Media Businesses
The oil and gas exploration and production segment reported lower revenue and EBITDA due to reduced volumes and price realisation from the KG-D6 fields, along with higher maintenance-related costs.
JioStar, Reliance’s media and entertainment business, delivered healthy quarterly EBITDA of Rs. 1,303 crore. JioHotstar averaged around 450 million monthly active users, while the network strengthened its leadership in television entertainment with a 34.6% viewership share. Major sporting events, including the ICC Women’s World Cup final, drew record digital audiences.
Outlook
RIL’s capital expenditure for the quarter stood at Rs. 33,826 crore, focused on growth projects in O2C, new energy initiatives, and expansion of Jio and Retail networks. The company said its strong cash flows and balance sheet strength have been recognised by global rating agencies, with foreign currency debt now rated “A-” by S&P Global Ratings.
Looking ahead, Reliance said it is entering a new phase of value creation through investments in artificial intelligence and new energy solutions, positioning itself to play a pioneering role in shaping India’s digital and sustainable future.
Also Read: Reliance Announces Q1 Results; Revenue Up By 11.5% YoY https://www.vibesofindia.com/reliance-announces-q1-results-revenue-up-by-11-5-yoy/
