Mumbai: Reliance Industries Limited reported a 9 per cent sequential decline in net profit for the March quarter, even as revenue posted double-digit growth. The company also announced a dividend of ₹6 per equity share for the financial year ended March 31, 2026.
Profit declines despite revenue growth
The conglomerate posted a net profit of ₹16,971 crore for Q4 FY26, down from ₹18,645 crore in the previous quarter. On a year-on-year basis, profit after tax declined by 12.55 per cent.
However, revenue rose by 11 per cent to ₹2,94,059 crore, compared to ₹2,64,905 crore in the preceding quarter, indicating continued business expansion despite profitability pressures.
EBITDA and margins under pressure
EBITDA for the quarter stood at ₹44,141 crore, marking a 4 per cent decline from ₹46,018 crore in the previous quarter. Margins also contracted to 15.0 per cent from 17.4 per cent, reflecting cost pressures and a challenging global environment.
Finance costs rose 7 per cent year-on-year to ₹6,585 crore, largely due to the operationalisation of 5G spectrum assets.
Dividend announcement
The board of Reliance Industries Limited recommended a dividend of ₹6 per equity share of face value ₹10 each for FY26, subject to shareholder approval.
Retail segment shows steady growth
The company’s retail business reported revenue of ₹98,457 crore during the quarter, slightly higher than ₹97,912 crore in the previous quarter and ₹88,637 crore a year earlier.
EBITDA for the segment stood at ₹6,921 crore, with margins at 7 per cent, indicating stable performance despite competitive pressures.
Strong performance in telecom and digital
Reliance Jio Infocomm reported a 4 per cent sequential rise in consolidated net profit. Average revenue per user (ARPU) increased marginally to ₹214 from ₹213.7 in the previous quarter.
The company’s digital platform, JioStar, also posted strong numbers, with revenue of ₹9,784 crore and EBITDA of ₹827 crore. It recorded an average of 50 crore monthly active users during the quarter.
The T20 Men’s Cricket World Cup final on the platform saw a peak concurrency of 7.25 crore viewers, marking a global record.
Capital expenditure remains high
Capital expenditure for the quarter stood at ₹40,560 crore (approximately $4.3 billion), reflecting continued investment across businesses, including telecom, retail, and energy.
Chairman highlights global challenges
Chairman and Managing Director Mukesh Ambani said the company navigated a challenging global environment marked by geopolitical disruptions, volatile energy prices, and shifting trade dynamics.
He noted that India’s economic resilience and the company’s diversified portfolio helped sustain growth despite external headwinds.
Conclusion
While Reliance Industries Limited faced pressure on profitability in the March quarter, its revenue growth and steady performance across key segments highlight underlying business strength. The company’s continued investments and diversified operations are expected to support long-term growth amid global uncertainties.