RIL Q1 Results 2025: Solid Profit Surge Driven by Retail, Jio Strength, and One-Off Gains
On July 18, 2025, Reliance Industries Limited (RIL), led by Mukesh Ambani, announced its Q1 FY26 results, showcasing a remarkable financial performance. The conglomerate reported a consolidated net profit of ₹26,994 crore, a 78% year-on-year (YoY) surge from ₹15,138 crore in Q1 FY25. This stellar growth was fueled by robust performances in its consumer-facing businesses—Reliance Retail and Jio Platforms—along with a significant one-time gain of ₹8,900 crore from the sale of its stake in Asian Paints. Even excluding this exceptional item, RIL’s profit rose by an impressive 25%, underscoring its operational strength.
Key Financial Highlights
RIL’s consolidated revenue for the quarter reached ₹2.73 lakh crore, up 6% YoY from ₹2.57 lakh crore, while EBITDA soared 35.7% to ₹58,024 crore, with margins expanding to 21.2% from 16.6%. The company’s diversified portfolio, spanning telecom, retail, and oil-to-chemicals (O2C), demonstrated resilience despite global market volatility. Net debt slightly increased to ₹1,17,581 crore, reflecting ongoing investments in infrastructure and 5G expansion.
Jio Platforms: Telecom and Digital Powerhouse
Jio Platforms, RIL’s telecommunications arm, continued its dominance, adding 9.9 million subscribers to reach a total of approximately 477.5 million. The average revenue per user (ARPU) rose to ₹208.70, driven by a better subscriber mix and tariff adjustments. Jio’s 5G user base crossed 212 million, with total data traffic surging 24% YoY to 54.7 billion GB. Revenue for the quarter climbed 19% YoY to ₹41,054 crore, with EBITDA up 23% to ₹17,301 crore and a margin of 56%. JioAirFiber, the world’s largest Fixed Wireless Access service, grew to 7.4 million subscribers, reinforcing Jio’s leadership in digital connectivity.
Akash Ambani, Chairman of Reliance Jio Infocomm, emphasized, “Jio’s superior network and customer-first approach continue to drive market leadership, fostering innovation in 5G and AI.”
Reliance Retail: Expanding Footprint and Consumer Reach
Reliance Retail delivered an 11.3% YoY revenue increase to ₹84,171 crore, though it fell slightly short of analyst expectations of ₹87,800 crore. The segment added 388 new stores, bringing the total to 19,592 across 77.6 million square feet, with a customer base of 358 million registered users. EBITDA grew 12.7% to ₹6,381 crore, with margins at 7.6%. JioMart’s hyper-local delivery surged 175% YoY, and Reliance Consumer Brands achieved ₹11,450 crore in sales, marking it as India’s fastest-growing FMCG player. The acquisition of Kelvinator further strengthens RIL’s position in consumer durables.
Isha Ambani, Executive Director of Reliance Retail, highlighted, “Our focus on omnichannel innovation and store expansion continues to drive growth, meeting evolving consumer demands.”
Oil-to-Chemicals (O2C): Resilient Amid Challenges
The O2C segment reported a 1.5% YoY revenue decline to ₹1.55 lakh crore due to lower crude prices and planned shutdowns. However, EBITDA rose 10.8% to ₹14,511 crore, supported by improved domestic fuel margins through the Jio-bp network and better polymer spreads. The segment benefited from strong transportation fuel cracks and gains in polypropylene and PVC deltas, though lower volumes and weak polyester margins posed challenges.
Mukesh Ambani noted, “The deep integration in our O2C business model mitigated the impact of volatile crude prices, delivering strong growth through domestic demand and value-added solutions.”
JioStar: Record-Breaking Entertainment
JioStar, RIL’s digital entertainment arm, achieved record revenue of ₹9,904 crore and EBITDA of ₹1,017 crore, driven by a blockbuster IPL season. The platform averaged over 460 million monthly active users, with JioHotstar hitting 1.04 billion Android downloads and recording its highest-ever monthly entertainment watch time in June 2025.
Strategic Outlook and Market Impact
RIL’s Q1 performance underscores its ability to leverage its diversified portfolio to navigate market challenges. The company’s focus on digital services, retail expansion, and strategic divestitures like the Asian Paints stake sale has bolstered its financials. Mukesh Ambani reiterated RIL’s goal to double group EBITDA by the decade’s end, signaling confidence in sustained growth.
Analysts project positive market sentiment following these results, given RIL’s significant weight in the Nifty 50 index. The 39% YoY jump in net profit before tax to ₹37,146 crore and a 77% increase in earnings per share to ₹19.95 further enhance investor confidence. However, higher finance costs of ₹7,036 crore, driven by 5G spectrum operationalization, and capital expenditure of ₹29,875 crore reflect RIL’s aggressive investment in future growth.
Looking Ahead
RIL’s Q1 FY26 results highlight its resilience and strategic foresight. The robust growth in Jio and Retail, coupled with a recovering O2C segment, positions RIL as a market leader. Investors are keenly awaiting management’s guidance on refining margins, 5G monetization, and retail expansion for the rest of FY26. With no dividend announced yet, speculation continues about potential shareholder rewards following last year’s 1:1 bonus issue.
For more details on RIL’s financial performance, visit Reliance Industries’ official website or check the latest updates on CNBC TV18.
