Reliance Industries Limited (RIL) shares fell 3.64% to Rs 1,404.60 on Monday after the company announced its Q3 FY26 earnings. The market reaction came despite the company reporting moderate growth in profit and revenue.
For the quarter ended December 31, 2025, Reliance posted a 1.6% rise in consolidated net profit to Rs 22,290 crore. Gross revenue increased by 10% to Rs 2.94 lakh crore compared to the same quarter last year. Profit before tax rose 3.7% year-on-year to Rs 29,697 crore.
EBITDA improved 6.1% to Rs 50,932 crore, but the EBITDA margin slipped to 17.3%, down from 18% last year. Finance costs rose 7% to Rs 6,613 crore, mainly due to expenses linked to the rollout of 5G spectrum assets.
Jio Platforms reported strong growth. Revenue rose 12.7% to Rs 43,683 crore, while EBITDA increased 16.4%. Average revenue per user (ARPU) grew to Rs 213.7, and Jio added 8.9 million new subscribers during the quarter.
Reliance Retail posted revenue of Rs 97,605 crore, up 8.1%, while EBITDA rose slightly. The company added 431 new stores, taking the total count to nearly 20,000. JioMart also saw sharp growth in daily orders.
The Oil-to-Chemicals (O2C) business performed well, with revenue up 8.4% and EBITDA rising 14.6%, supported by strong fuel margins. However, the Oil and Gas segment saw an 8.4% drop in revenue due to lower production and prices.
Chairman Mukesh Ambani said Reliance showed steady performance and is entering a new phase focused on AI and clean energy, which will drive future growth.
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