Brands
Reliance hits record Q1 FY26 EBITDA as Jio and retail fire on all cylinders
MUMBAI: Reliance Industries has kicked off FY26 with a blockbuster first quarter, posting its highest-ever consolidated quarterly EBITDA of Rs 58,024 crore ($ $6.8 billion), a sharp 35.7 per cent leap over last year, fuelled by robust performances across digital, retail and energy verticals.
Group net profit soared 76.5 per cent year-on-year to Rs 30,783 crore ($3.6 billion), aided by operational gains and a Rs 8,924 crore windfall from its stake sale in Asian Paints. Total revenue rose 6 per cent to Rs 2.73 lakh crore ($31.9 billion), with EBITDA margins improving by a stellar 460 basis points to 21.2 per cent.
Reliance Jio continued to dominate the digital landscape, crossing a jaw-dropping 200 million 5G subscriber milestone and 20 million home broadband connections. Jio Platforms’ revenue jumped 19 per cent to Rs 35,032 crore, while EBITDA climbed 24 per cent to Rs 18,135 crore, with margins expanding 210 basis points to a best-in-class 51.8 per cent.
ARPU rose to Rs 208.8, driven by premium subscriber additions and deepening data consumption, which reached 54.7 billion GB this quarter. Jio also unveiled its next-gen tech stack—JioGames Cloud, JioPC, and the proprietary UBR fixed wireless platform—taking a firm aim at India’s AI and home computing future.
Reliance Retail cemented its pole position, clocking Rs 84,171 crore in revenue (up 11.3 per cent), and EBITDA of Rs 6,381 crore (up 12.7 per cent), marking an industry-leading margin of 8.7 per cent. The business added 388 new stores, taking the total footprint to 19,592 outlets spanning 77.6 million sq ft.
JioMart’s hyper-local push paid off with daily order volumes exploding 175 per cent year-on-year. AJIO continued to thrive in the online fashion segment with its new 4-hour delivery service and strong traction for Shein, while the FMCG arm doubled revenue to Rs 4,400 crore.
Reliance’s Oil-to-Chemicals (O2C) segment, despite a 1.5 per cent drop in revenue due to crude price softness and planned shutdowns, posted a solid 10.8 per cent EBITDA gain at Rs 14,511 crore. Jio-bp’s aggressive retail fuel push contributed significantly, with volumes of petrol and diesel up 38.6 per cent and 34.2 per cent respectively.
With net debt remaining flat at Rs 1.17 lakh crore and capital expenditure of Rs 29,875 crore this quarter, the group is doubling down on its “golden decade” growth strategy across tech, consumption, and energy. Chairman Mukesh Ambani said, *“Reliance will continue its stellar track record of doubling value every four to five years.”
From superfast data to doorstep delivery and clean fuels, Reliance is firing on all fronts—and showing no signs of slowing down.
Brands
Angel One Q4 profit surges 83 per cent to Rs 320cr
year net profit dips 22 per cent to Rs 915cr as revenue softens slightly to Rs 5,137cr.
MUMBAI: Angel One has just earned its wings in style delivering a blockbuster Q4 that proves the brokerage giant is still flying high even in a cautious market. Standalone revenue from operations for the three months ended 31 March 2026 rose sharply to Rs 1,459cr, up from Rs 1,056cr a year ago. Total income stood at Rs 1,467cr. After all expenses, profit before tax came in at Rs 440cr, while net profit for the quarter surged 83 per cent to Rs 320cr (versus Rs 175cr last year). Basic EPS stood at Rs 3.52 and diluted at Rs 3.44.
For the full year ended 31 March 2026, revenue from operations was Rs 5,137cr compared with Rs 5,238cr in FY25. Total income reached Rs 5,152cr. Profit before tax was Rs 1,272cr, and net profit came in at Rs 915cr (down from Rs 1,172cr). Basic EPS was Rs 10.09 (from Rs 13.00) and diluted Rs 9.85 (from Rs 12.68).
Total comprehensive income for the quarter stood at Rs 321cr, while the full-year figure was Rs 913cr.
The strong quarterly performance reflects robust growth in interest income (Rs 455cr) and fees & commission (Rs 1,000cr), even as the full-year numbers moderated amid a softer overall environment. Finance costs rose to Rs 134cr in Q4 (full year Rs 437cr), while employee benefits stood at Rs 244cr for the quarter (full year Rs 1,067cr).
In a year when many brokers felt the pinch of muted market activity, Angel One has delivered a sparkling Q4 that shows its core broking engine is firing on all cylinders. With the books now closed on FY26, the Mumbai-based player has once again demonstrated that consistent execution and a sharp focus on retail participation continue to pay rich dividends in India’s booming capital markets.
