Reliance Industries Q3 FY26 Profit Rises 1.6% on Jio Growth, Oil and Gas Decline

Reliance Industries reported a 1.6% year-on-year rise in consolidated net profit to around Rs 22,290 crore for Q3 FY26, with revenue increasing 10% to Rs 2.94 lakh crore. Growth in Jio Platforms and oil-to-chemicals segments offset declines in retail and oil and gas, where volumes and prices fell. Jio's net profit rose 11.2%, driven by expanding 5G and broadband subscribers. The company highlighted initiatives in AI and new energy, while finance costs and depreciation increased due to investments and 5G spectrum operationalisation. Despite beating revenue estimates, profit margins narrowed and net profit missed some analyst forecasts.