Reliance Q3 Revenue Jumps 10% Driven by Digital, O2C Growth

• Reliance Industries reported a 10% year-on-year consolidated revenue increase to INR 2.94 trillion in Q3 FY26, fueled by digital services, oil-to-chemicals (O2C), and retail.
• Net profit rose 1.6% to INR 222.90 billion, while consolidated EBITDA grew 6.1% to INR 509.32 billion, primarily from digital and O2C segments.
• O2C business EBITDA increased 15% due to higher transportation fuel cracks and increased volumes, despite lower chemical margins.
• Digital services revenue surged 12.7% with EBITDA up 16.4%, driven by subscriber additions; Jio's 5G user base exceeded 250 million.
• Retail revenue grew 8.1% to INR 976.05 billion, expanding to 19,979 stores, while the oil and gas segment saw a 13% EBITDA decline due to lower production and prices.

Why It Matters: Reliance Industries achieved robust Q3 growth, primarily from its digital and O2C businesses, offsetting oil and gas declines.