Mumbai, July 18, 2025 – Reliance Industries Limited (RIL), India’s largest conglomerate led by Mukesh Ambani, on Friday reported a remarkable 78% year‑on‑year increase in consolidated net profit for the first quarter of fiscal 2025‑26, delivering ₹26,994 crore compared to ₹15,138 crore in Q1 FY25 The Times of IndiaThe Economic Times. This performance comfortably outpaced street expectations of around ₹22,000 crore.
A significant ₹8,924 crore one‑time gain from the sale of RIL’s stake in Asian Paints underpinned much of the upside, recorded as “other income” in the quarter’s financials The Economic TimesReuters. Stripping out this non‑recurring gain, analysts estimate underlying operational profit would still have grown by over 20%, reflecting robust demand across refining, petrochemicals, retail, and digital services.
Revenue and Segment Highlights
Consolidated revenue from operations rose 6% year‑on‑year to ₹2.73 lakh crore, up from ₹2.57 lakh crore in Q1 FY25, as higher refining margins and strong petrochemical volumes boosted the Oil‑to‑Chemicals (O2C) segment The Economic Times. EBITDA for the conglomerate jumped 35.7% to ₹58,024 crore, driven by:
- O2C: A recovery in global refining spreads and sustained petrochemical demand lifted segmental EBITDA by 10.8% year‑on‑year.
- Jio Platforms: Digital services revenue hit a record ₹11,222 crore, aided by the Indian Premier League viewership surge, contributing a 23.9% rise in segment EBITDA mint.
- Retail: Reliance Retail delivered a 12.7% EBITDA uptick, powered by higher same‑store sales and the rapid expansion of its 4‑hour grocery delivery service, AJIO Rush, now active in six cities.
Strategic Investments and Capex
RIL remains on a high‑investment trajectory, deploying ₹29,875 crore ($3.5 billion) in capital expenditure during Q1 to fund its new energy ambitions, including giga‑factories for solar, battery, and hydrogen projects mint. The conglomerate reaffirmed its goal of fully self‑funding these green ventures post‑commissioning through partner offtake and innovative financing structures.
Market Reaction and Outlook
Despite the stellar earnings report, RIL’s share price dipped 2.4% to a one‑day low of ₹1,441.95 on the Bombay Stock Exchange, as some investors expressed caution over rising interest costs (up 18.9% YoY to ₹7,036 crore) and margin pressures in Retail and O2C segments The Economic Times. Motilal Oswal retained a “Buy” recommendation but trimmed its 12‑month target to ₹1,700, forecasting mid‑single‑digit EBITDA growth excluding one‑offs.
In a post‑earnings presentation, Mukesh Ambani reiterated RIL’s long‑term vision of doubling its business every 4–5 years, with a focus on inclusive development and technological innovation across energy, digital, and consumer platforms mint.
Broader Corporate Earnings Landscape
Analysts note that, excluding Reliance’s exceptional one‑time gains, aggregate profit growth across India’s banking, FMCG, and IT sectors for Q1 fell to a nine‑quarter low, signaling potential near‑term moderation in corporate earnings momentum AInvest.
Conclusion
Reliance Industries’ Q1 performance underscores its financial resilience and ability to capitalize on strategic asset monetization, even as underlying operations remain healthy. With substantial capex underway in new energy and digital infrastructure, RIL is positioning itself to spearhead India’s transition to a lower‑carbon economy while delivering consistent shareholder returns.
