Reliance Industries Ltd (RIL) reported a 15.9 per cent jump in net profit and 9.9 per cent rise in revenue year-on-year for the September quarter, backed by improved refining margins and steady expansion in its consumer facing retail and digital services businesses.

The revenue of the conglomerate, controlled by billionaire Mukesh Ambani, stood at ₹283,548 crore in the second quarter compared with ₹258,027 crore in the same period of last fiscal.

Profit after tax in the quarter ended September 30 stood at ₹22,146 crore against ₹19,101 crore in Q2FY25.

However, there was a sequential decline in profit compared with the previous quarter, which had gained by ₹8,924 crore from proceeds of profit from listed investments such as the Asian Paints stake.

Consolidated EBITDA for RIL stood at ₹50,367 crore, up 14.6 per cent from a year earlier, led by a growth in businesses spanning oil-to-chemicals (O2C), retail and digital services.

Profit before tax rose 16.3 per cent to ₹29,124 crore.

The company said capital expenditure for the quarter stood at ₹40,010 crore, which was fully backed by strong internal cash flows, with cash profit of ₹40,778 crore.

At ₹1.19 lakh crore, the net debt was stable as of September 30 compared with ₹1.18 lakh crore as of June 30.

Commenting on the results, chairman and managing director Mukesh Ambani said Reliance delivered a robust performance during 2QFY26 led by strong contributions from O2C, Jio and Retail businesses.

“Consolidated EBITDA registered 14.6 per cent growth on an Y-o-Y basis, reflecting agile business operations, domestic focused portfolio and structural growth in the Indian economy,” Ambani said in a statement.

Oil and gas

The oil to chemical business, which houses the company’s twin refineries at Jamnagar in Gujarat and petrochemical plants, saw revenue grow 3.2 per cent to ₹160,558 crore and EBIDTA rise by 20.9 per cent to ₹15,008 crore in Q2.

It was up sequentially as well due to higher product cracks, helping improve refining margins. The highest quarterly refining throughput of 20.8 million tonnes also came handy.

In the exploration and production business, lower gas output from KG-D6 fields led to a 5.4 per cent fall in the pre-tax profit of its oil and gas business to ₹5,002 crore in Q2.

Digital services

Digital services revenue increased 15 per cent from a year earlier to ₹42,652 crore, led by continued expansion of the subscriber base and improvement in average revenue per user (ARPU). Segment EBITDA grew 17.7 per cent to ₹18,757 crore, with a 140-basis-point expansion in margin.

Jio Platforms, the subsidiary that houses the telecom and digital businesses, saw profits rise by 13 per cent to ₹7,379 crore in the second quarter.

Retail biz

Revenue for the retail business grew strongly by 18 per cent year-on-year to ₹90,018 crore, with significant contributions from all formats.

Grocery and fashion and lifestyle delivered strong performance, growing 23 per cent and 22 per cent, respectively.

Segment EBITDA rose 16.5 per cent to ₹6,816 crore, driven by higher revenues with a favourable mix and improvement in store operating metrics.

The retail arm Reliance Retail Ventures Ltd posted a 22 per cent year-on-year rise in profit to ₹3,457 crore.