The gains in Reliance Industries Ltd’s (RIL) digital services and oil‑to‑chemicals (O2C) businesses led to a marginal 1.6 per cent rise in net profit at Rs 22,290 crore for the third quarter (Q3) ended December 2025 as against Rs 21,930 crore in the same period last year. However, the net profit attributable to the owners of the company rose only by 0.57 per cent to Rs 18,645 during the quarter from Rs 18,540 crore a year ago.
The company’s gross revenue rose by 10 per cent to Rs 293,829 crore in Q3 from Rs 267,186 crore a year ago. Oil-to-chemicals EBITDA increased by 14.6 per cent year-on-year with a sharp rise in transportation fuel cracks, higher volumes and higher sulphur realisation partially offset by a decline in downstream chemical margins and higher feedstock freight rates, it said.
On the impact of new Labour Code changes, RIL said, “Once Central/State rules are notified by the government on all aspects of the Codes, the company will evaluate impact, if any, on the measurement of employee benefits and would provide appropriate accounting treatment.” It reported an employee benefit expense of Rs 7,912 crore for Q3 as against Rs 7,155 crore a year ago.
The company’s digital and telecom arm Jio Platforms posted an 11.2 per cent rise in net profit to Rs 7,629 crore and an increase in revenue by 12.7 per cent to Rs 43,683 crore during the quarter.
Reliance Retail Ventures Ltd, RIL’s retail arm, registered a 2.7 per cent increase in net profit to Rs 3,551 crore from Rs 3458 crore a year ago. Revenue rose by 8.1 per cent to Rs 97,605 crore.
RIL’s Chairman and managing director Mukesh Ambani said the robust growth in O2C business was led by significantly higher fuel margins with favourable demand-supply dynamics, along with operational flexibility. “Upstream segment EBITDA was impacted by lower volumes and prices. Reliance’s robust cash-flows and balance sheet strength have been recognized by international rating agencies,” he said.
RIL said it maximised refinery utilisation to capture high margins, adding that agile crude sourcing helped sustain throughout despite procurement challenges. “US/EU sanctions on Russian refiners further tightened fuel markets,” the company said.
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“Jio’s digital ecosystem is deepening its roots in Indian households. Through our mobility and broadband products, we are connecting mobile phones, homes, appliances and enterprises. The synergistic value delivered by our connectivity and media platforms has meaningfully increased customer engagement,” Ambani said. The business delivered a robust financial performance with 16.4 per cent growth in EBITDA,” he said. The operating revenue (net of GST) growth of Jio Platforms was driven by robust subscriber addition, average revenue per user (ARPU) growth and scale-up of digital services. Robust 16.4 per cent EBITDA growth was driven by higher revenue and margin improvement, it said.
“Our retail business also had an eventful quarter, strengthening its portfolio with the onboarding of fresh brands and product ranges,” Ambani said. The demerger of the consumer products business came into effect this quarter. With a broad and diverse product basket ranging from classic Indian brands to new age labels, the consumer products vertical is progressing on its accelerated growth trajectory with a focused organisational structure, the chairman said.
“The (retail) business expanded its store network with 431 new store openings, taking the total store count to 19,979 with area under operation at 78.1 million sq. ft. The registered customer base grew to 378 million,” the company said.
RIL shares closed almost flat at Rs 1457.60, a marginal rise of 0.06 per cent on the BSE on Friday.
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