Reliance Industries Beats Q1 Profit Estimates on Strong O2C, Jio Growth

Reliance Industries has reported better-than-expected first-quarter earnings, driven by strong performances in its oil-to-chemicals (O2C), telecom and retail businesses. The company posted a consolidated net profit of ₹20,946 crore for the quarter ended June 30, surpassing analysts’ estimates despite a year-on-year decline due to a one-time gain recorded in the corresponding quarter last year.

The company’s core oil-to-chemicals business recorded a 17.2% rise in earnings, supported by strong refining margins and improved petrochemical performance. Meanwhile, Jio Platforms continued its growth momentum with a 15.1% increase in core earnings, expanding its subscriber base to 533 million while achieving an average revenue per user (ARPU) of ₹215.6. Reliance Retail also remained a key contributor, although margins were impacted by continued investments in digital commerce and hyper-local delivery.

Chairman Mukesh Ambani said Reliance remains focused on strengthening its core businesses while preparing to commission its new energy projects later this fiscal year. The company also highlighted ongoing geopolitical uncertainties and global market challenges but expressed confidence that operational efficiencies and diversified business operations would support future growth.

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