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Reliance Industries Limited (RIL), led by Chairman Mukesh Ambani, on Friday reported a consolidated net profit of Rs 20,946 crore for the first quarter of FY27, down 22 per cent year-on-year.
The decline was largely due to a one-time exceptional gain in the corresponding quarter of the previous financial year from the sale of its stake in Asian Paints, when net profit had risen to Rs 26,994 crore.
Despite the drop in profit, the company’s core operations remained robust.
Revenue increased 25 per cent year-on-year to Rs 3.11 lakh crore during the April-June quarter, compared with Rs 2.48 lakh crore in the same period last year. EBITDA also rose 10 per cent year-on-year to Rs 54,067 crore.
The quarterly performance exceeded market expectations, supported by double-digit growth across the Oil-to-Chemicals (O2C) business, Reliance Retail and digital services platform Jio.
Mukesh Ambani said Reliance made a steady start to FY27, with all businesses delivering strong operating performance despite geopolitical tensions and volatile commodity markets.
Jio’s mobility, home broadband and enterprise services recorded 15 per cent year-on-year earnings growth during the quarter.
Jio Platforms Limited also filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), marking a significant step towards its proposed public listing.
Reliance Retail posted resilient growth across consumption formats and channels, while Reliance Consumer Products Limited (RCPL) more than doubled its revenue compared to the previous year.
The O2C business also reported strong performance, supported by record middle distillate cracks and improved downstream petrochemical margins despite a challenging global energy market and supply chain disruptions.
Also Read: Reliance Industries To Hold Q1 FY27 Results Presentation Today At 7:30 PM IST
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