Reliance Industries (RIL) officially reported a consolidated net profit of ₹16,971 crore for the fourth quarter of FY26 on Friday, April 24, 2026.
While the conglomerate reached a historic $10 billion (₹95,610 crore) annual profit milestone for the full fiscal year, the March quarter saw a 12.6% year-on-year (YoY) decline in profit, primarily due to intense pressure on its core energy business caused by the conflict in West Asia.
1. Q4 FY26 Financial Snapshot
The results showed a sharp contrast between record-breaking top-line growth and a “margin squeeze” in the energy segment.
| Metric | Q4 FY2025-26 Performance | Change (YoY) |
| Consolidated Net Profit | ₹16,971 Crore | ▼ 12.6% |
| Revenue from Operations | ₹2.98 Lakh Crore | ▲ 13.0% |
| Consolidated EBITDA | ₹48,588 Crore | ▼ 0.3% |
| EBITDA Margin | 14.9% | ▼ 200 bps |
- Dividend: The board recommended a dividend of ₹6 per share for FY26.
- Full-Year Profit: For the entire financial year, PAT jumped 18.3% to ₹95,610 crore, making RIL the first Indian company to cross the $10 billion profit mark.
2. Segment Performance
The “consumer flywheel” (Jio and Retail) provided a critical cushion against the volatility in the Oil-to-Chemicals (O2C) segment.
- Jio Platforms: A standout performer with a 13% rise in quarterly profit to ₹7,935 crore. This was driven by 268 million 5G subscribers and a monthly ARPU (Average Revenue Per User) rising to ₹214.
- Reliance Retail: Revenue climbed 11% to ₹87,344 crore, but profit was largely flat at ₹3,563 crore (+0.5%) due to aggressive investments in hyper-local and quick commerce infrastructure.
- O2C (Oil-to-Chemicals): Revenue rose to ₹1.85 lakh crore, but EBITDA dropped 3.7% as geopolitical conflict in the Gulf spiked crude premiums, freight, and insurance costs.
3. Geopolitical and Strategic Headwinds
Chairman Mukesh Ambani noted that the company navigated “volatile energy prices and shifting global trade patterns” throughout the quarter.
- West Asia Conflict: The closure of the Strait of Hormuz (starting Feb 28) forced RIL to divert critical gas (KGD6) and LPG to domestic priority sectors, leading to “under-recoveries” in its fuel retailing business.
- New Energy Update: Despite the quarterly profit dip, RIL confirmed it is on track to operationalize its New Energy giga-factories in Jamnagar in the coming quarters, which it expects will become its next major growth engine.
- Jio IPO: Ambani hinted that the path toward the Jio Platforms listing (projected for mid-2026) is advancing steadily.