Reliance Results: Complete Q2 FY26 Performance Review
Reliance results for the second quarter of FY26 have drawn significant attention from investors and market analysts. Reliance Industries announced its September quarter earnings on October 17, 2025, revealing mixed performance across its diverse business segments.
Reliance Results: Revenue and Profit Overview
The showed consolidated revenue rising to approximately ₹2.48 lakh crore, marking a modest growth of 1.7% quarter-on-quarter. However, the net profit declined 26% to around ₹19,883 crore compared to the previous quarter, primarily due to the absence of a one-time gain of ₹8,924 crore from the Asian Paints stake sale in Q1.
Reliance Results: EBITDA Performance
Despite profit challenges, the demonstrated strong EBITDA growth. Consolidated EBITDA increased 5.2% to ₹45,151 crore, with margins expanding to 18.2% from 17.6% in the previous quarter. This improvement in operating efficiency highlights the company’s underlying business strength.
Reliance Results: Segment-Wise Analysis
Oil-to-Chemicals (O2C): The showed robust O2C performance, with EBITDA growing 20% year-on-year to approximately ₹15,000 crore. Higher refining throughput and improved diesel margins supported this segment.
Reliance Jio: The revealed steady telecom growth, with EBITDA rising 14-17% year-on-year to around ₹17,000-18,000 crore. Average Revenue Per User (ARPU) improved to ₹211-212, aided by tariff hikes and an extra day in the quarter.
Reliance Retail: The indicated 11-15% year-on-year EBITDA growth to ₹64,000-66,000 crore. Store additions and festive season demand supported performance, though GST cuts on consumer durables caused some purchase deferrals.
Reliance Results: Stock Market Impact
Following the announcement, the stock showed resilience with a 1.32% gain, closing at ₹1,416.95. Year-to-date, shares have delivered over 16% returns despite earlier concerns about cash flow and heavy capital expenditure.
The confirm the conglomerate’s diversified strength across energy, retail, and telecom sectors, positioning it for sustained long-term growth.
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