Reliance Industries Ltd (RIL) is all set to post strong numbers for the June quarter. Analysts are expecting a big 40% jump in net profit. The reason? Solid growth in three areas — oil-to-chemicals (O2C), digital services, and retail.
Big Profit Jump Expected
According to analysts surveyed by Moneycontrol, RIL’s revenue for Q1 FY26 is likely to touch ₹2.46 lakh crore. That’s a 6% increase from the same time last year. More importantly, net profit is expected to rise to ₹21,233 crore. That’s up from ₹15,138 crore last year and ₹19,407 crore in the previous quarter.
The company’s EBITDA (earnings before interest, taxes, depreciation and amortisation) is expected to grow by 16% to nearly ₹45,000 crore. This growth is led by a strong performance in the O2C, retail, and digital business.
O2C: Making a Strong Comeback
The O2C segment seems ready for a turnaround. After a tough year, this division is likely to show a 17.7% jump in EBITDA. Gross refining margins (GRMs) are expected to improve by $0.4 per barrel from the last quarter. Even though there was a refinery shutdown, recovery in petrochemical prices is helping.
However, the upstream business (exploration and production) may stay weak. Production volumes are slightly lower, and the government’s share in profit petroleum has gone up.
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Jio’s Digital Push Continues
The digital services arm, led by Jio, is looking strong. Jio is expected to add 10.5 million mobile users in Q1, taking the total to 477.5 million. Fixed broadband is also growing fast, with 3 million new users.
Jio’s revenue and EBITDA are expected to grow 2.5% and 3.4% from the last quarter. ARPU (average revenue per user) may rise slightly due to one extra day in the quarter. However, net profit in the digital segment will grow just 0.5% to ₹6,700 crore because of higher 5G costs.
Retail Keeps Winning
Reliance Retail is also seeing strong momentum. In a big move just before Q1 results, it acquired Kelvinator. This shows its push into home appliances and the fast-growing consumer durables space. The retail business is expected to grow 19–20%, supporting overall earnings.
Apart from business growth, RIL will also benefit from a one-time post-tax gain of ₹9,000 crore. This comes from selling its stake in Asian Paints and will further lift reported profits.
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