{
  "id": 17719701,
  "title": "Reliance Industries eyes growth boost from O2C, retail and Jio businesses",
  "url": "https://urgent.news/2026/11/02/reliance-industries-eyes-growth-boost-from-o2c-retail-and-jio",
  "topic": "business",
  "section": "Business",
  "published": "2026-11-02T01:05:51.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/stocks/earnings/reliance-industries-reports-strong-growth-in-september-quarter-driven-by-oil-to-chemicals-segment/articleshow/135441477.cms"
  },
  "original_language": "en",
  "account": "Reliance Industries reported robust double-digit revenue and profit growth for the September quarter, primarily driven by its oil-to-chemicals (O2C) segment. However, overall profitability was impacted due to investments in digital commerce by its retail division, shifting festive season timing, and rising inflation and a weaker rupee affecting input, packaging, and transportation costs. Moving forward, the company anticipates strong refining margins to boost O2C earnings, despite supply disruptions and low fuel inventories. The retail business might offer a short-term boost contingent on festive demand trends, while digital commerce investments are expected to yield improved earnings for FY28. RIL's consolidated revenue rose 27.8% year-on-year to ₹3.6 lakh crore, with Ebitda reaching a record ₹62,409 crore in the quarter, up 23.9% year-over-year, but profitability growth was slower at 23.9%. The O2C division led growth, with Ebitda increasing 67.9% to ₹25,203 crore, comprising nearly 40% of the group's total Ebitda compared to 30% in the prior quarter. Factors such as higher fuel cracks, global refinery outages, low product inventories, and geopolitical tensions are boosting O2C performance. On a per-barrel basis, gasoline, gasoil, and ATF cracks saw significant increases. The retail division's Ebitda declined 10.2% year-over-year to ₹6,120 crore, with margins strained by digital commerce investments, higher input costs, and the delayed festive season reflecting in the December quarter. Management anticipates full festive season benefits in the upcoming December quarter. However, inflation and uneven rural demand due to weak monsoon could limit discretionary spending in the near term. Jio Platforms, the telecom and digital platforms arm of Reliance, also reported double-digit revenue and net profit growth for the September quarter, buoyed by improved average revenue per user (Arpu) and increased subscriber additions and 5G adoption. Its subscriber base expanded by 7.1% year-over-year to 542.4 million, with 5G users constituting 55.3% of the total, up from 46.3% a year earlier. Arpu reached ₹218.8 from ₹211.4 a year ago. The company's stock surged 28% from its ₹1,119 IPO price, raising its trailing P/E multiple to 42 from around 34 at the time of listing, which closes the valuation gap with Bharti Airtel, currently trading at a P/E of 43. Jio Platforms is expected to sustain growth momentum in upcoming quarters, potentially supporting its stock price.",
  "summary": "Reliance Industries has reported a significant growth in revenue and profits for the September quarter. The oil-to-chemicals segment has led this growth while retail segment profitability faced pressures from digital commerce investments. Jio Platforms also reported double digit revenue and profit growth, aided by increased average revenue per user and subscriber additions. Rising inflation and a…",
  "key_points": [
    "Reliance Industries reports 27.8% YoY revenue growth to ₹3.6 lakh crore",
    "O2C segment leads with 67.9% YoY Ebitda growth to ₹25,203 crore",
    "Jio Platforms sees double-digit revenue and net profit growth"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}