Reliance Industries clocks strong Q3 growth, beats expectations
Reliance Industries (RIL) just posted a 10% jump in revenue for October-December 2025, hitting ₹2.94 lakh crore. Growth came from its digital services, oil-to-chemicals, and retail businesses.
Some metrics—such as revenue and consolidated EBITDA—came in above certain broker median estimates, while consolidated net profit, reported at ₹18,645 crore, was described in some reports as missing or only marginally meeting Street expectations.
Profits and cash flow stay solid
Net profit edged up by 1.6% to ₹22,290 crore, while operating earnings (EBITDA) rose 6.1% to ₹50,932 crore—even as some upstream operations lagged behind.
RIL spent big on expansion but still brought in enough cash profit to lower its net debt to ₹1.17 lakh crore.
How each segment performed
Oil-to-chemicals saw a healthy 15% boost in earnings thanks to better fuel margins and more Jio-bp outlets moving product.
Jio's revenue jumped nearly 13%, now serving over half a billion subscribers—including more than 250 million on 5G.
Retail also kept climbing with an 8% revenue rise across almost 20,000 stores nationwide.