Consolidated Financials
Reliance registered Robust consolidated performance with double digit growth across EBITDA and PAT levels. Significant growth in O2C, Digital Services and Retail businesses.Strong traction and broad-based growth in consumer businesses.Continued thrust on domestic fuel retailing operations and higher fuel cracks improved O2C segment profitability.
Consolidated revenue increased 10% YoY to ? 283,548 crore, largely led by Retail and Digital Services segments.Consolidated EBITDA at ? 50,367, up 14.6% YoY. Significant growth in O2C, Retail and Digital Services business boosted EBITDA level performance.
Profit Before Taxes at ? 29,124 crore, up 16.3% YoY.PAT (pre-minority), grew 14.3% YoY to ? 22,092 crore.Capex for the quarter was higher at ? 40,010 crore. Strong internal cashflows sufficiently covered capital investments with cash profit of ? 40,778 crore.Net Debt as of 30th September 2025 largely stable at ? 118,545 crore (vs. ? 117,581 crore as of 30th June 2025)
Digital Services
Jio Platforms' EBIDTA for quarter increased by 17.7% Y-o-Y to ?18,757 crore
Jio's net profit for the quarter grew 12.8% Y-o-Y to ?7,379 crore Jio's net subscriber addition of 8.3 million during the quarter. Jio's total subscriber base of 506.4 million as of Sep ’25
JioTrue5G user base increased to ~230 million as of September 2025. 5G now accounts for ~50% of total wireless traffic driven by consistent growth in 5G mobility subscriber base and FWA services
During the quarter, Jio added over 1 million new homes each month taking the total connected premises to 22.7 million with fixed broadband. JioAirFiber extended its global leadership with a subscriber base of ~9.5 million including ~2.5 million on UBR technology
JioAICloud’s functionalities were further enhanced with – i) AI Events which creates albums powered by face tagging for easy photo sharing, and ii) voice search in Hindi and English. The goal of JioAICloud is to democratise AI and cloud storage in India and it now has ~42 million registered users.
Jio's ARPU increased further to ?211.4 due to positive impact of seasonality Jio maintained its industry leading customer engagement with per capita data consumption was 38.7 GB/month, and total data traffic growth of 29.8% Y-o-Y during 2Q FY26. Total data traffic grew 29.8% Y-o-Y to 58.4 billion GB during the quarter.
Reliance Retail
Reliance Retail delivered steady performance during the quarter with revenue of ?90,018 crore, up 18.0% Y-o-Y Reliance Retail's EBITDA stood at ?6,816 crore which was up 16.7% Y-o-Y; EBITDA margin stood at 8.6% Retail expanded its store network with 412 new store openings taking the total store count to 19,821 with area under operation at 77.8 million sq. ft.
The registered customer base grew to 369 million, making Reliance Retail one of the most preferred retailers in the country. Total transactions recorded were at 434 million, up 26.5% Y-o-Y. JioMart maintained a strong growth trajectory and achieved an exit average daily order run rate of over 1 million.
O2C
Reliance's O2C Segment Revenue for the quarter was up 3.2% Y-o-Y to ?160,558 crore ($18.1 billion). Production meant for sale increased 2.3% on a Y-o-Y basis with higher throughput in both primary and secondary units. Jio-bp network added 236 outlets on a Y-o-Y basis, leading to a volume growth of 34% for HSD and 32% for MS.
Reliance's O2C segment EBITDA increased by 20.9% Y-o-Y to ?15,008 crore ($1.7 billion) with sharp rebound in transportation fuel cracks (up 22-37%) and improvement in polymer margins. It was also supported by sustained higher volumes in domestic fuel retailing. Segment EBITDA was partially constrained by weak polyester chain deltas.
Reliance BP Mobility Limited (RBML) operates a country-wide network of 2,057 outlets (vs 1,821 in 2Q FY25) under brand Jio-bp. RBML's quarterly sales for HSD grew at 34.2% and MS grew at 32.5% on Y-o-Y basis as against industry sales volume growth rate of 2.5% for HSD and 6.5% for MS
Oil & Gas
The Oil & Gas segment revenue for the quarter was lower by 2.6% Y-o-Y at ?6,058 crore mainly on account of lower sales volume of KGD6 gas and condensate, and lower realisation for gas price for CBM gas and condensate impacted revenues. This was partly offset by higher KGD6 gas price and higher volume of CBM gas.
The Oil & Gas segment's quarterly EBITDA achieved is ?5,002 crore which is lower by 5.4% on Y-o-Y basis. The decline in EBITDA was due to lower revenues coupled with higher operating costs due to periodic maintenance activity.
The average KGD6 production for the 2Q FY26 is 26.1 MMSCMD of gas and 18,746 bbl / day of Oil / Condensate. The current rate of production is ~26.1 MMSCMD of gas and ~18,400 bbl / day of Oil / Condensate.
Second phase of multi-lateral well campaign underway to augment production – Drilling of 7 wells completed out of 40 MLW wells. 6 wells connected to the production system out of which 3 are under production ramp-up.
JioStar
JioStar reported record revenues of ? 7,232 crore with EBITDA (including other income) of ? 1,738 crore.It was a strong quarter for JioStar across linear and digital. The network reached over 830 million viewers and delivered over 60 billion hours of watch time on TV and averaged 400 million MAUs during the quarter.
