Reliance Industries posts steady Q3FY26 profit despite rising costs and margin pressures. Revenue jumps over 10%, but EBITDA margins shrink. What’s behind RIL’s resilient growth in a challenging market?
Key highlights from RIL Q3 earnings
Mumbai: Mukesh Ambani-led Reliance Industries Limited (RIL) reported a modest 2% year-on-year (YoY) increase in consolidated profit for the third quarter of the current financial year (Q3FY26). The company posted a profit of ₹22,167 crore, up from ₹21,804 crore in the same quarter last year.
The net profit attributable to the owners of the company rose 0.6% YoY, reaching ₹18,645 crore compared to ₹18,540 crore in Q3FY25. Analysts noted that while profit growth remains steady, margins showed slight pressure amid rising operational costs and sectoral challenges.
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RIL’s consolidated revenue from operations for the quarter stood at ₹2,69,496 crore, marking a 10.51% increase from ₹2,43,865 crore in Q3FY25. The growth was driven by contributions from the company’s diversified portfolio, including oil refining, petrochemicals, retail, and telecom businesses.
The company reported consolidated EBITDA of ₹50,932 crore, reflecting a 6.1% YoY growth. However, the EBITDA margin shrank by 70 basis points YoY to 17.3%, indicating some cost pressures impacting profitability at the operational level.
RIL’s net debt at the end of Q3FY26 stood at ₹1,17,102 crore, slightly higher than ₹1,15,465 crore in the same quarter last year but lower than ₹1,18,545 crore recorded at the end of Q2FY26. The company continues to manage its debt levels prudently amid ongoing investments across multiple business segments.
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Reliance Industries remains focused on expanding its digital, retail, and energy businesses while maintaining financial discipline. Analysts expect the company to continue its measured growth trajectory, balancing investments in emerging sectors with steady returns from its core oil-to-telecom businesses.
The quarterly results underscore RIL’s resilience as India’s largest company by market capitalization, maintaining profitability growth even amid sectoral challenges and a complex macroeconomic environment.
