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RELIANCE INDUSTRIES Q1 FY27 results: net profit down 24.6% to ₹23,196 crore, revenue up 25.4%
Reliance Industries Ltd reported consolidated revenue of ₹3,11,850 crore in Q1 FY27, up 25.4% from the year-ago quarter. EBITDA rose 10.7% to ₹47,517 crore, but net profit fell 24.6% to ₹23,196 crore and basic EPS declined to ₹15.48.
Key points
- Consolidated revenue rose 25.4% year on year to ₹3,11,850 crore, while EBITDA increased 10.7% to ₹47,517 crore.
- EBITDA margin fell 2.1 percentage points to 15.2% from 17.3% in Q1 FY26.
- Net profit declined 24.6% year on year to ₹23,196 crore, and basic EPS fell to ₹15.48 from ₹19.95.
- Against Q4 FY26, revenue rose 4.4%, EBITDA increased 7.6% and net profit grew 12.7% to ₹23,196 crore.
- Digital Services revenue increased 11.8% to ₹46,900 crore, while Oil to Chemicals revenue rose 30.4% to ₹2,01,803 crore.
How did RELIANCE INDUSTRIES perform in Q1 FY27?
Reliance Industries reported consolidated revenue of ₹3,11,850 crore for Q1 FY27, up 25.4% from ₹2,48,660 crore in Q1 FY26. EBITDA rose 10.7% to ₹47,517 crore, while the margin declined 2.1 percentage points to 15.2% from 17.3%. Net profit fell 24.6% to ₹23,196 crore and basic EPS declined to ₹15.48 from ₹19.95. Against Q4 FY26, revenue increased 4.4% to ₹3,11,850 crore, EBITDA rose 7.6% to ₹47,517 crore and the margin improved 0.4 percentage points to 15.2%. Net profit was ₹23,196 crore, up 12.7%, while basic EPS rose to ₹15.48 from ₹12.54. On a standalone basis, revenue was ₹1,66,013 crore and profit before tax was ₹13,272 crore, against ₹17,904 crore in the year-ago quarter.
| ₹ crore | Q1 FY27 | Q4 FY26 | Q1 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 3,11,850 | 2,98,621 | 2,48,660 | +25.4% | +4.4% |
| Other income | 6,550 | 4,447 | 15,119 | −56.7% | +47.3% |
| Total expenses | 2,87,770 | 2,75,873 | 2,26,633 | +27.0% | +4.3% |
| EBITDA | 47,517 | 44,141 | 42,905 | +10.7% | +7.6% |
| EBITDA margin | 15.2% | 14.8% | 17.3% | −2.1 pp | +0.4 pp |
| Profit before tax | 30,630 | 27,195 | 37,146 | −17.5% | +12.6% |
| Tax | 7,629 | 6,579 | 6,465 | +18.0% | +16.0% |
| Net profit | 23,196 | 20,589 | 30,783 | −24.6% | +12.7% |
| EPS (₹) | 15.48 | 12.54 | 19.95 | −22.4% | +23.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in RELIANCE INDUSTRIES's costs and profit?
Total expenses increased 27.0% year on year to ₹2,87,770 crore, with cost of materials up ₹30,575 crore to ₹1,29,857 crore. Employee cost rose ₹485 crore to ₹7,717 crore, finance costs increased ₹1,301 crore to ₹8,337 crore and depreciation was ₹15,100 crore, up ₹1,258 crore. Other expenses fell ₹621 crore to ₹45,252 crore, and there was no exceptional item. Other income declined ₹8,569 crore to ₹6,550 crore, while profit before tax fell ₹6,516 crore to ₹30,630 crore. Tax expense increased ₹1,164 crore to ₹7,629 crore, and net profit consequently fell ₹7,587 crore to ₹23,196 crore. Against Q4 FY26, total expenses rose ₹11,897 crore, other income increased ₹2,103 crore and tax expense rose ₹1,050 crore.
| ₹ crore | Q1 FY27 | Q1 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1,29,857 | 99,282 | +30,575 | +30.8% |
| Employee cost | 7,717 | 7,232 | +485 | +6.7% |
| Finance costs | 8,337 | 7,036 | +1,301 | +18.5% |
| Depreciation | 15,100 | 13,842 | +1,258 | +9.1% |
| Other expenses | 45,252 | 45,873 | −621 | −1.4% |
| Total expenses | 2,87,770 | 2,26,633 | +61,137 | +27.0% |
| Other income | 6,550 | 15,119 | −8,569 | −56.7% |
| Tax | 7,629 | 6,465 | +1,164 | +18.0% |
Source: Company's results filing (XBRL).
How has RELIANCE INDUSTRIES done over the last 8 quarters?
Reliance Industries’ revenue rose in each of the last eight quarters, reaching ₹3,11,850 crore in Q1 FY27 from ₹2,35,481 crore in Q2 FY25. The latest revenue was the highest in the reported sequence, while net profit of ₹23,196 crore remained below the Q1 FY26 peak of ₹30,783 crore. The EBITDA margin peaked at 18.0% in Q3 FY25 and fell to 14.8% in Q4 FY26 before rising 0.4 percentage points to 15.2% in Q1 FY27. Net profit bottomed at ₹20,589 crore in Q4 FY26 and rose 12.7% in the latest quarter, while revenue continued its upward sequence.
Which businesses drove the quarter?
Oil to Chemicals revenue rose 30.4% year on year to ₹2,01,803 crore, with segment EBIT of ₹14,170 crore, up from ₹12,521 crore, and an EBIT margin of 7.0%. Oil and Gas revenue increased 3.2% to ₹6,298 crore, while EBIT rose to ₹3,888 crore from ₹3,546 crore; its margin was 61.7%. Retail revenue rose 7.4% to ₹90,409 crore, while EBIT fell to ₹4,529 crore from ₹4,866 crore, with a 5.0% margin. Digital Services revenue increased 11.8% to ₹46,900 crore and EBIT rose to ₹13,564 crore from ₹11,416 crore, with a 28.9% margin. Others revenue rose 68.9% to ₹31,204 crore, while EBIT was ₹523 crore, down from ₹662 crore.
| Segment | Revenue | Revenue YoY | EBIT | EBIT margin |
|---|---|---|---|---|
| Oil to Chemicals (O2C) | 2,01,803 | +30.4% | 14,170 | 7.0% |
| Oil and Gas | 6,298 | +3.2% | 3,888 | 61.7% |
| Retail | 90,409 | +7.4% | 4,529 | 5.0% |
| Digital Services | 46,900 | +11.8% | 13,564 | 28.9% |
| Others | 31,204 | +68.9% | 523 | 1.7% |
Source: Company's results filing (XBRL segment data).
What else did the company announce?
The Board approved Reliance Industries’ consolidated and standalone unaudited financial results for the quarter ended 30 June 2026 on 17 July 2026. The results were reviewed and recommended by the Audit Committee before Board approval at 7:00 p.m. IST, and independent auditors issued a review report on the quarterly consolidated results. The company also filed an investor presentation with the exchange. The same-day filings did not announce a dividend, a fund raise or any appointment, so no such action is reported.
How did RELIANCE INDUSTRIES shares react?
Reliance Industries shares fell 0.5% on the reaction day from the pre-results close of ₹1,329. By the next day’s close, the stock was down 1.9% from that close; by five sessions, it was down 3.6%. The Refineries & Marketing sector’s median moves were 0.2% on the reaction day, 1.2% by the next day and -1.2% by five days. The stock underperformed the industry median by 0.8 percentage points on the reaction day, 3.1 percentage points by the next day and 2.4 percentage points by five days. Earlier reaction-day moves included gains of 2.9% on 24 April 2026, 3.4% on 17 October 2025 and 5.0% on 25 April 2025, alongside declines of 3.3% on 16 January 2026 and 3.2% on 18 July 2025.
| After the filing | Stock | Refineries & Marketing median |
|---|---|---|
| Reaction day | −0.5% | +0.2% |
| Next day | −1.9% | +1.2% |
| 5 days | −3.6% | −1.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 24 April 2026 | +2.9% |
| 16 January 2026 | −3.3% |
| 17 October 2025 | +3.4% |
| 18 July 2025 | −3.2% |
| 25 April 2025 | +5.0% |
| 16 January 2025 | +2.0% |
| 14 October 2024 | −2.1% |
| 19 July 2024 | −3.6% |
Source: MarketPing price-reaction measurement.
How did other Refineries & Marketing companies do?
Five other Refineries & Marketing companies filed for the quarter, and their median revenue growth was 27.1%. Of these, two companies grew revenue more slowly than Reliance Industries and three grew faster than the company. Three of the seven companies in the broader profit comparison reported higher profit.
| RELIANCE INDUSTRIES revenue growth (YoY) | +25.4% |
|---|---|
| Median of 5 other Refineries & Marketing companies | +27.1% |
| Companies with slower revenue growth than RELIANCE INDUSTRIES | 2 of 5 |
| Companies with faster revenue growth than RELIANCE INDUSTRIES | 3 of 5 |
| Companies whose net profit rose | 3 of 7 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was RELIANCE INDUSTRIES's revenue in Q1 FY27?
Revenue from operations was ₹3,11,850 crore, up 25.4% from ₹2,48,660 crore in Q1 FY26 (consolidated).
Did RELIANCE INDUSTRIES make a profit in Q1 FY27?
Yes. Net profit was ₹23,196 crore, against a net profit of ₹30,783 crore in Q1 FY26.
What was RELIANCE INDUSTRIES's EPS in Q1 FY27?
Basic earnings per share were ₹15.48, against ₹19.95 in Q1 FY26.
How did RELIANCE INDUSTRIES shares react to the Q1 FY27 results?
On the reaction day the stock moved −0.5% from the previous close; the median Refineries & Marketing stock moved +0.2%.
When did RELIANCE INDUSTRIES announce its Q1 FY27 results?
On 17 July 2026, in a filing to the NSE.
Sources
- Board Meeting Intimation for For Considering And Approving The Standalone And Consolidated Unaudited Financial Results Of The Company For The Quarter Ended June 30, 2026. (BSE, 10 July 2026) · PDF
- Analysts/Institutional Investor Meet/Con. Call Updates (NSE, 10 July 2026) · PDF
- Outcome of Board Meeting (NSE, 17 July 2026) · PDF
- The earnings call (19 July 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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