Reliance Industries Reports 78% Profit Surge, Sets Strong Q1 FY26 Growth

Reliance Industries, led by billionaire Mukesh Ambani, reported a robust 78.3% year-on-year jump in consolidated net profit to ₹26,994 crore for Q1 FY26, surpassing analyst expectations driven largely by one-off gains including a stake sale in Asian Paints. The conglomerate's consolidated revenue rose by over 5%, fueled by strong performances across its core segments: energy, retail, and telecom. The Oil-to-Chemicals (O2C) business benefited from improved fuel and downstream product margins while Reliance Jio saw growth in subscriber base and Average Revenue Per User (ARPU), contributing to an 18-19% EBITDA increase. Reliance Retail rebounded with a projected 17% top-line growth supported by expanded store networks, new fashion and in-house consumer brands, and quick commerce expansion via JioMart's 30-minute delivery service. Analysts highlighted this quarter as the strongest in 18 months, with an expected 15-16% EBITDA surge, marking a turnaround after muted FY25 numbers and signaling renewed investor confidence in Ambani's strategy, including a focus on green energy and generative AI for future growth. Despite early trading volatility, Reliance's shares stabilized, reflecting market optimism about the conglomerate's multi-pronged growth trajectory.