Reliance Industries Limited reported a record consolidated net profit of ₹22,017 crore for the quarter ended March 2026, a 19% increase year-on-year, driven by a stellar performance from Jio Platforms and Reliance Retail, even as the traditional oil-to-chemicals business faced margin pressure from volatile crude prices.
Jio Platforms, which houses the telecom, digital, and media businesses, posted EBITDA of ₹18,200 crore—up 24% year-on-year—as the company continued to benefit from tariff hikes implemented in mid-2025 and rapid growth in its fixed broadband business JioFiber, which now has 16.2 million subscribers.
Jio’s average revenue per user (ARPU) rose to ₹210 per month from ₹181 a year ago, reflecting the migration of low-value subscribers to higher plans. Total subscriber base crossed 500 million for the first time—a milestone that cements Jio as Asia’s largest telecom operator by subscribers.
Reliance Retail, with 18,900 stores across the country, registered revenue of ₹92,000 crore in the quarter, a 28% year-on-year jump. The grocery, fashion, and electronics segments all grew in double digits. The company’s JioMart e-commerce platform processed 11 million orders per day in March—its highest ever.
Chairman Mukesh Ambani announced an accelerated timeline for the planned IPOs of both Jio Platforms and Reliance Retail, with market floats likely by Q1 2027. Analysts estimate Jio could be valued at $80-100 billion and Reliance Retail at $60-80 billion in public markets.
RIL shares climbed 3.9% to ₹3,218, lifting its market capitalisation above ₹21.7 lakh crore—the first Indian company to cross this threshold.
