RIL Q1 PAT falls 22% to ₹20,946 crore, revenue up 25%

Reliance Industries Ltd (RIL), which witnessed an “extraordinary quarter” on Friday (July 17, 2026), reported a 22.4% fall in net profit for the first quarter ended June 30, 2026, to ₹20,946 crore as compared with ₹26,994 crore in the year ago periods.However, the firm in the year-ago period had reported a profit of ₹8,924 crore from the sale of investment in Asian Paints shares.The company met market expectations because most of its businesses performed well despite headwinds from West Asia conflict. Ahead of the results the company’s shares gained 2.5% to close at ₹1,326.50 on the BSE.For the quarter the company’s reported 25.41% gain in net revenue at ₹311,850 crore. Jio Platforms Ltd (JPL) revenue increased by 12.0% YoY, driven by continued subscriber market share gains, ARPU increase and strong growth in digital services.RIL created five times value for shareholders in 10 yearsReliance Retail Venture Ltd (RRVL) revenue increased by 7.4% YoY to ₹ 90,408 crore, led by broad-based growth across consumption baskets and scaling of Digital Commerce Platforms with increasing contribution to revenue. Oil to Chemicals (O2C) revenue increased by 30.4% YoY. This was largely driven by a sharp increase in crude prices partially offset by lower production meant for sale, the company said.Oil and Gas segment revenue increased by 3.2% YoY with higher realisation on KG D6 oil /condensate and favourable exchange rate movement.RIL’s EBITDA increased by 10.1% YoY to ₹ 54,067 crore. JPL EBITDA increased by 15.1% YoY, driven by revenue growth, operating leverage and margin expansion of 150 bps, the company said. RRVL EBITDA decreased 1.1% YoY to ₹ 6,309 crore with an EBITDA margin of 7.9%. Margin moderation of 80 bps reflects investment in Digital Commerce. O2C EBITDA increased by 17.2% YoY due to stronger transportation fuel cracks and favourable downstream margin. Earnings were impacted by costlier feedstock sourcing and lower production due to planned turnaround.Oil and Gas segment EBITDA was stable on a YoY basis, aided by strong contribution from improved realisation on KG D6 liquids.Capital Expenditure for the quarter ended 30th June 2026, stood at ₹38,682 crore.Mukesh D. Ambani, chairman and managing director, RIL, said: “Reliance has made a steady start to FY27, with all businesses delivering strong operating performance. Our diverse business portfolio has once again demonstrated its resilience in a quarter which witnessed continuing geopolitical tensions and volatile commodity markets.”“The O2C business delivered strong performance during the quarter, supported by all-time high middle distillate cracks and improved downstream petrochemical deltas. This was achieved despite a challenging global energy market backdrop with disrupted supply chains. Our teams navigated this difficult environment with operational agility and ensured adequate availability of essential fuels and materials in the domestic markets,” he stated.“I remain confident in the underlying strength of our businesses,” he added. Top company officials in a presentation stated that the company had to withstand the energy market shock and the supply chain disruptions due to the war in West Asia.In the O2C business, it had to work hard to source crude from the U.S., Canada, Venezuela, Africa and Russia to run it’s refinery at near full capacity. In the O2C business, realisations from the KG D-6 basin were lower. Earnings growth and margin were weighed down by under recoveries in domestic fuel retail; higher crude oil premiums, freight rate, insurance and 10% lower volume due to planned turnaround, LPG diversion, company executives said. The retail business was impacted by depreciation and finance cost, they added.