Reliance Industries Q4 earnings: Net profit declines 13% to ₹16,971 crore, revenue rises 13%; Company announces dividend of ₹6 per share

Billionaire Mukesh Ambani-backed Reliance Industries on Friday, April 24, reported a net profit of ₹16,971 crore in January-March quarter, marking a decline of 12.55% from ₹19,407 crore in the same period last year as operating profit for its oil-to-chemicals (O2C) business declined due to sharp rise in crude prices amid ongoing tensions in West Asia.

Reliance Industries’ revenue from operations, however, jumped 13% to ₹2.98 lakh crore from ₹2.65 lakh crore in the year-ago period.

The company reported operating profit or earnings before interest, taxes, depreciation, and amortization (EBITDA) of ₹44,141 crore in March quarter, up 10% but its margin shrunk by 180 basis points to 14.78% compared 16,57%.

“Through fiscal FY2025-26 we faced geopolitical disruptions, volatile energy prices and shifting global trade patterns. These headwinds weighed on businesses across the world. India held its economic growth course through all this, as did Reliance. The breadth of our portfolio and strong domestic orientation helped navigate volatility in the external environment," said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

Reliance Industries O2C business

O2C business segment’s revenue rose by 12.4% to ₹1,84,944 crore in March quarter owing to sharp increase in crude oil prices by 12% Y-o-Y but EBITDA declined 3.7% to ₹14,520 crore.

"Dated Brent crude averaged $80.6/bbl in 4Q FY26, up $4.9/bbl Y-o-Y. Lower crude prices in January and February 2026 were offset by a sharp increase in March, driven by heightened geopolitical tensions amid Middle East conflict and disruptions to crude and product flows through the Strait of Hormuz", Reliance Industries said.

Reintroduction of SAED on exports of Diesel and ATF also impacted earnings while weak polymer deltas with sharp increase in feedstock and energy cost weighed on segment profitability, the company added.

"The O2C business navigated a complex global environment during the year. The war in West Asia has led to unprecedented dislocation in global supply chains. As in prior periods of disruption, Reliance has again demonstrated its commitment to ensure availability of critical energy and materials to India. Our O2C team successfully diverted streams toward scaling up LPG production, our colleagues in Jio-bp have ensured continuous availability of fuels to individuals and businesses throughout India," Ambani said on performance of O2C business.

Reliance Jio Infocomm Q4 performance

Reliance Industries telecom arm Reliance Jio Infocomm reported a net profit of ₹7,935 crore, marking an upside of 13%. Its EBITDA jumped 18% to ₹20,060 crore and margin improved by 230 basis points to 52.4%.

The company's average revenue per user (ARPU), a key metric to track performance of telecom venture, improved to ₹214 per user per month from ₹206.2 in the year-ago period. The ARPU increased with higher customer engagement and better subscriber mix partly impacted by lower number of days in the quarter, Reliance Industries said.

“Jio played a crucial role in connecting India to the Internet era and with over 524 million subscribers across India is now positioned as the digital gateway to the Intelligence era. Jio's state-of-the-art connectivity and edge compute infrastructure make it the principal gateway through which AI services reach Indian consumers, households and businesses. This will sustain Jio's industry-leading growth for many years to come”, said Akash Ambani, Chairman of Reliance Jio Infocomm.

Reliance Retail Q4 earnings

Reliance Retail Venture, the retail arm of Reliance Industries, reported net profit of ₹3,563 crore in Q4, marking a marginal increase of 0.5% from ₹3,545 crore.

Its revenue rose 11% to ₹98,232 crore while EBITDA advanced 3% to ₹6,921 crore and margin contracted by 60 basis points to 7.9%.

The company opened 333 new stores in March quarter taking the total store count to 20,160 stores and area under operation at 78.3 million sq. ft.

“FY26 marks a year of profitable growth at scale for Reliance Retail. Revenue crossed ₹ 3.70 lakh crore, EBITDA crossed ₹27,000 crore, and we served 387 million registered customers across 1.93 billion transactions - underlining the enduring strength of India's largest retail franchise," said Isha M Ambani, Executive Director, Reliance Retail Ventures.

"As we enter FY27, our focus is on converting this unmatched reach into deeper customer value - through AI-embedded merchandising, sharper pricing architecture, and disciplined execution. The balance sheet is strong and our leadership across categories is widening. We are building Reliance Retail for a decade of sustainable, profitable growth," she added.

Reliance Industries shares ended 1.16% lower at ₹1,328 ahead of its earnings announcement.