Reliance Industries Limited (RIL), India’s most valuable company, has released its results for the third quarter (October-December) of the current financial year 2026. The company’s total revenue increased by 10% year-on-year to ₹2.94 lakh crore, compared to ₹2.67 lakh crore in the same quarter last year. According to Moneycontrol, net profit in the third quarter (Q3) increased by 1.6% to ₹22,290 crore. Profit before tax rose by 3.7% to ₹29,697 crore. The company’s consolidated EBITDA increased by 6.1% to ₹50,932 crore. Strong earnings from the digital services and O2C (Oil to Chemicals) business segments supported the EBITDA growth.
Growth in the Oil to Chemicals Business
The Oil to Chemicals business benefited from a sharp increase in transportation fuel cracks. Transportation fuel cracks saw a year-on-year increase of 62-106% during the quarter. O2C EBITDA increased by 15% compared to the previous year, reaching ₹16,507 crore.
Growth in Jio-BP Fuel Retailing Business
The Jio-BP fuel retailing business also continued its growth trajectory. Fuel volumes increased by 24% due to higher sales of gasoline and high-speed diesel. As of December 2025, Jio-BP had 2,125 operational outlets, a 14% increase compared to the previous year.
What Chairman Mukesh Ambani Said
Reliance Industries Chairman and Managing Director Mukesh Ambani said that Reliance’s consolidated performance in 3Q FY26 reflects consistent financial delivery and operational strength across all businesses. The strength in the O2C business was driven by improved demand-supply dynamics and operational flexibility. The fuel retailing business witnessed robust growth with the expansion of the Jio-BP network.
Oil and Gas Business Performance
The company’s oil and gas segment continued to weigh on overall performance. Natural decline in the KGD6 block’s reservoirs, lower prices, and increased operating expenses due to maintenance activities impacted production. EBITDA for this segment decreased by 13% to ₹4,857 crore, and revenue declined by 8.4% to ₹5,833 crore.
