Reliance Industries has reported a 12.5 per cent decline in net profit for the quarter ended March 31 as war in West Asia dented profitability of the energy business, offsetting growth from the consumer businesses (digital service and retail).

The company’s net profit attributable to the owners’ of the company stood at ₹16,971 crore in Q4FY26 compared with ₹19,407 crore in the same period of FY25.

For the full year, net profit stood at ₹80,775 crore, up 15.9 per cent from ₹69,648 crore in FY25. RIL attributed lower fourth quarter profit to higher finance cost and depreciation due to operationalisation of 5G spectrum assets. The company declared a dividend of ₹6 per share.

The core performance of the Mukesh Ambani led conglomerate, defined by earnings before interest, tax, depreciation and amortisation (EBITDA) stood at ₹48,588 crore, down 0.3 per cent from ₹48,737 crore in Q4FY25.

The company said strong earnings growth in digital services and a positive contribution from retail were offset by a decline in the energy businesses arising from West Asia conflict-related disruptions.

India’s most valuable company by market cap, however, recorded a 12.9 per cent jump in revenue led by oil to chemicals (O2C), retail and digital services to ₹325,290 crore in the last quarter, compared with ₹288,138 crore in Q4FY25.

Mukesh Ambani said the company faced geopolitical disruptions throughout FY26, led by volatile energy prices and shifting global trade patterns, weighing on businesses across the world. However, the diversified portfolio and domestic focus helped RIL maintain growth momentum.

Nowhere it was more visible than the refinery and petrochemicals (O2C) segment where EBIDTA was down by 3.7 per cent to ₹14,520 crore, down from ₹15,080 crore in the same period of last year.

“The O2C business navigated a complex global environment. The war in West Asia has led to unprecedented dislocation in global supply chains,” Ambani, who is the chairman and managing director of RIL, said.

The oil and gas business, the exploration and production segment of the company, also reported a 18.1 per cent decline in EBIDTA to ₹4,195 crore compared with ₹5,123 crore in Q4FY25 mainly on account of lower gas and oil/condensate production from KG D6 block.

Digital & retail biz

Ambani said RIL is advancing towards the listing of Jio Platforms. Profit after tax of JPL was up 13 per cent to ₹7,935 crore in Q4. For the full year, profit stood at ₹30,053 crore. Revenue from operations were up 12.6 per cent to ₹38,259 crore in Q4FY26 compared with ₹33,986 crore in Q4FY25.

The total 5G subscriber base reached 26.8 crore as of March 2026. Moreover, total fixed broadband and Jio Air Fibre subscribers base stood at 2.71 crore at 1.3 crore as of March 2026, respectively.

Reliance Retail posted a 0.5 per cent rise in PAT to ₹3563 crore while revenue from operations were up 11.1 per cent to ₹87,344 crore in Q4FY26.