Reliance Industries (RIL) posted a 25% decline in consolidated net profit for the June quarter, as earnings in the year-ago period had been boosted by a one-time exceptional gain from the sale of its stake in Asian Paints. Profit after tax dropped to ₹23,001 crore, from ₹30,681 crore, in the year earlier, the company said on Friday.

RIL's June quarter in FY26 included ₹8,924 crore from the Asian Paints deal.

Net profit attributable to the owners of the company dropped to ₹20,946 crore, from ₹26,994 crore a year earlier.

Revenue from operations was ₹3.12 lakh crore, up 25% from ₹2.48 lakh crore, the first time it crossed the ₹3 lakh crore mark in a quarter. "Reliance has made a steady start to FY27, with all businesses delivering strong operating performance," said Mukesh Ambani, chairman and MD, RIL. "Our diverse business portfolio has again demonstrated its resilience in a quarter that witnessed continuing geopolitical tensions and volatile commodity markets."

Reliance Retail Ventures reported a 14.2% drop in net profit to ₹2,806 crore, while revenue from operations rose 8.2% to ₹79,745 crore, partly impacted by the demerger of the FMCG business in December.

According to the country's largest retailer, the grocery, fashion and consumer electronics businesses have seen double-digit underlying growth, but margins were squeezed for the third consecutive quarter due to the growing contribution of ecommerce to revenue and associated infrastructure investments, increasing the fixed cost.

During the quarter, Reliance Retail opened 252 stores, taking the total count to 20,169 and area to 78.4 million square feet.

The oil-to-chemicals (O2C) segment remained the largest contributor, with revenue rising 30.4% to ₹2,01,803 crore, while segment ebitda increased 17.2% to ₹17,010 crore. However, reintroduction of special additional excise duty (SAED) on diesel, motor spirit (petrol) and aviation turbine fuel (ATF) hit margins in the domestic business, RIL said.

Domestic polymer demand shrank 21.7% with that of polyethylene (PE), polypropylene (PP) and polyvinyl chloride (PVC) declining by 30.8%, 20.3%, and 8.1%, respectively, amid supply disruptions due to the Gulf crisis, lower operating rate of domestic producers with feedstock and fuel availability issues, RIL said.

"This has been an extraordinary quarter when you look at it from point of view of macro volatility, energy market shock, supply chain dislocation that happened, and in that context, when you look at the overall performance, I do want to say that it's been an extraordinary performance too," CFO Srikanth Venkatachari said on an analyst call.

Jio Platforms Ltd (JPL), which includes India's largest telecom company by subscriber volume, posted its first-ever decline in net profit-by of 2.2% to ₹7,764 crore--due to capitalisation of 5G assets, which led to increased depreciation and finance costs. Profit was up 9.2% from the year before. Jio had crossed the ₹30,000 crore profit mark in FY26.

JPL is slated to list on Indian stock exchanges at an estimated $135-180 billion, making it India's largest. Mukesh Ambani said the listing "will be an important milestone in Jio's journey and will give investors an opportunity to participate in India's digital growth story."

JPL, which houses RIL's telecom and digital businesses, maintained its steady streak of revenue growth driven by continued subscriber additions, growing content consumption, and rising 5G adoption. Revenue from operations grew 11.8% to ₹39,173 crore from ₹35,032 crore in the year before. On a sequential basis, revenue rose 2.4%, reflecting the absence of major tariff hikes during the period.

Earnings were announced after market close. RIL had ended at ₹1,326.50, up 2.6%, on the BSE Friday.