Mumbai: Reliance Industries Limited reported a mixed operational performance in Q4 FY26, with strong growth in consumer-facing businesses offsetting weakness in its energy segment. While consolidated financial figures were not disclosed in the transcript, management indicated that overall EBITDA remained largely flat sequentially, with consumer businesses such as telecom and retail growing 14 percent and cushioning pressure from Oil-to-Chemicals.
The company’s retail arm delivered its highest-ever quarterly performance, with revenue rising 11 percent year-on-year to Rs 98,000 crore and EBITDA at Rs 6,900 crore. Net profit for the segment stood at Rs 3,500 crore, driven by broad-based consumption and strong growth in hyperlocal commerce.
Reliance Jio Platforms also maintained steady momentum during the quarter. The digital services business reported revenue of Rs 38,259 crore, up 12.6 percent year-on-year, while EBITDA rose 17.9 percent to Rs 20,060 crore. Profit after tax increased 13 percent to Rs 7,935 crore, supported by subscriber additions and higher data consumption.
Sequentially, however, profitability at the group level was impacted by higher depreciation and interest costs following capitalization of 5G assets, along with continued pressure in the Oil-to-Chemicals business, which declined 4 percent amid a challenging global energy environment.
Management highlighted that the March quarter was marked by unprecedented volatility in global energy markets, including supply disruptions, elevated logistics costs, and sharp increases in crude premiums and freight rates. Despite these headwinds, the company maintained operational resilience through diversified sourcing and flexible refining capabilities.
For the full year FY26, Reliance reported 10 percent growth in revenue and 13.5 percent increase in EBITDA, driven largely by strong performance in digital and retail segments, which now contribute over 55 percent of total EBITDA. Looking ahead, the company expects continued strength in consumer businesses, while energy operations may remain influenced by geopolitical developments and supply-side constraints.
Disclaimer: This summary is based on transcript disclosures and not a full UFR filing; it does not constitute investment advice.
