Reliance Industries Q4 FY26: Profit 20589 cr, Rs 6 dividend

March-quarter results and dividend recommendation

Reliance Industries Limited (RIL) reported its January to March quarter (Q4 FY26) results on April 24, 2026, with net profit at Rs 20,589 crore. Alongside the earnings, the board recommended a dividend for the financial year ended March 31, 2026. The company proposed a dividend of Rs 6 per equity share of face value Rs 10 each, as disclosed in its exchange filing. The results came during a busy earnings day for Indian markets, with multiple companies reporting numbers, but RIL’s update drew attention given its size and cross-sector footprint. The company also indicated it would hold an analyst meeting after the board meeting to discuss results for the quarter and full year ended March 31, 2026.

Q4 FY26: Profit, revenue and operating performance

For Q4 FY26, RIL reported consolidated gross revenue of Rs 3,25,290 crore, up 12.9% year-on-year. The company’s quarterly EBITDA was Rs 48,588 crore (also disclosed as $1.1 billion). RIL attributed the quarter’s operating performance to strong earnings growth in Digital Services and a positive contribution from Retail, while noting that this was offset by a decline in energy businesses. The company flagged that the energy business was impacted by disruptions linked to the Middle East conflict. Separately, the update said Oil and Gas revenue declined in line with a natural decline in KG D6 production.

FY26 full-year snapshot: revenue, EBITDA and PAT

RIL reported consolidated full-year FY26 revenue at Rs 11,75,919 crore, up 9.8% year-on-year. Full-year EBITDA was reported as a record high at Rs 2,07,911 crore, up 13.4% year-on-year, with an EBITDA margin of 17.7%. The company also reported record high PAT (including share of Associates and JVs) at Rs 95,754 crore, up 17.8% year-on-year. The updates also highlighted growth across key consumer-facing businesses at the annual level, with JPL revenue and RRVL revenue both increasing year-on-year.

Segment cues: O2C, Digital Services, Retail and Oil and Gas

In the full-year update, RIL said JPL revenue grew 14.7%, RRVL revenue grew 11.8%, and O2C revenue grew 5.7%. For the quarter, the company said O2C, Digital Services and Retail each delivered double-digit revenue growth, contributing to the consolidated gross revenue increase. At the same time, the company indicated Oil and Gas revenue declined due to the KG D6 production trend. The quarter commentary also pointed to disruption-related pressure in the energy businesses, which offset part of the improvement from the consumer and digital segments.

Jio ARPU rises to Rs 214; listing commentary from the chairman

RIL disclosed that Jio’s Average Revenue Per User (ARPU) increased to Rs 214, attributing this to higher customer engagement and a better subscriber mix. Chairman and Managing Director Mukesh D. Ambani said the company is “advancing steadily towards the listing of Jio Platforms,” describing it as a milestone in Jio’s journey. He also said robust full-year EBITDA growth of 19% was driven by continuing traction in mobility, home broadband and enterprise services. The statement also referenced efforts to democratize access to AI tools and next-generation technology platforms, positioning Jio around future technology adoption.

Capex at Rs 1,44,271 crore and project execution focus

For the year ended March 31, 2026, RIL reported capital expenditure of Rs 1,44,271 crore. The company said it continued to make progress on execution of growth projects in O2C and the New Energy business. It also said it was strengthening and expanding the Jio and Retail network and infrastructure. The capex figure provides a snapshot of investment intensity across both legacy and newer businesses, especially as RIL continues to operate across energy, telecom and retail under one consolidated structure.

Stock close and trading context on results day

On April 24, 2026, RIL shares settled lower at Rs 1,331 per share on the NSE, down 0.92%. Earlier in the day, the stock was also reported trading around Rs 1,330.30, down 0.98%, ahead of the evening results. The price action indicates the stock was under selling pressure going into the announcement, even as investors tracked both quarterly earnings and the likelihood of a dividend recommendation.

Street expectations and brokerage factors flagged ahead of Q4

Ahead of the results, analysts cited by the live update expected steady earnings despite the war in West Asia, estimating revenue at Rs 2,81,000 crore and net profit at Rs 16,943.5 crore for the quarter. Brokerage commentary in the feed also flagged risks for the O2C business, with ICICI Securities pointing to higher crude costs, a rise in shipment and insurance costs, losses in the retail fuel segment, and weaker petchem spreads. The company’s own commentary after results noted that the decline in energy businesses was linked to conflict-related disruptions, aligning with the broader risk factors being tracked by the market.

Key numbers at a glance

What comes next: analyst meet, dividend process, Jio listing steps

RIL said it would hold an analyst meeting after the board meeting to discuss the financial results for the quarter and year ended March 31, 2026. The dividend recommendation of Rs 6 per share sets up the next steps in the shareholder approval and payment process as applicable. Investors are also likely to track further disclosures on the timing and process for the Jio Platforms listing, given the chairman’s remarks. Beyond that, attention will remain on how conflict-linked disruptions and energy-market conditions interact with growth in Digital Services and Retail, as reflected in the company’s quarterly commentary.