Mumbai: Billionaire Mukesh Ambani-led Reliance Industries Limited (RIL) on Friday reported a consolidated net profit at Rs 20,946 crore for the first quarter of the current financial year (Q1 FY27), which represents a 22 per cent year-on-year (YoY) decline largely due to a one-time exceptional item in the same quarter of the previous year.
The conglomerate’s net profit had jumped to Rs 26,994 crore in the first quarter of 2025-26 (Q1 FY26) due to the sale of Asian Paints stake.
The company said its core operations remained strong, with revenue surging 25 per cent year-on-year to Rs 3.11 lakh crore in the April-June (Q1) of 2026-27, up from Rs 2.48 lakh crore in the same period a year ago.
EBITDA during the quarter increased by 10 per cent year-on-year to Rs 54,067 crore, according to a company statement.
The performance beat street expectations, driven by double-digit growth across key businesses, including the Oil-to-Chemicals (O2C) segment, Reliance Retail, and digital services platform Jio.
RIL chairman Mukesh Ambani said: “Reliance has made a steady start to FY27, with all businesses delivering strong operating performance. Our diverse business portfolio has once again demonstrated its resilience in a quarter which witnessed continuing geopolitical tensions and volatile commodity markets.”
The Digital Services business continued its growth momentum during the quarter. Jio’s performance across mobility, home broadband and enterprise services remained strong, driving healthy earnings growth of 15 per cent Y-o-Y. During the quarter, Jio Platforms Limited filed its DRHP with SEBI, a significant step towards its public listing.
Reliance Retail delivered resilient growth this quarter, with steady performance across all consumption formats and channels.
The consumer products business is growing rapidly with the portfolio of FMCG brands gaining real traction with Indian consumers. RCPL has more than doubled its revenues as compared to the previous year.
“The O2C business delivered strong performance during the quarter, supported by all-time high middle distillate cracks and improved downstream petrochemical deltas. This was achieved despite a challenging global energy market backdrop with disrupted supply chains. Our teams navigated this difficult environment with operational agility and ensured adequate availability of essential fuels and materials in the domestic markets,” he added.
(IANS)
