RELIANCE · Oil Gas & Consumable Fuels
Reliance Industries Ltd. reported revenue of ₹2.59 lakh cr for July to September 2025, — on the year and — on the quarter.
Operating profit (EBITDA) was ₹45,885 cr, a margin of 17.7%, — on the year and — on the quarter.
Net profit was ₹22,092 cr, — on the year and — on the quarter, with earnings per share of ₹13.42.
Refining and marketing profits swing with crude and product margins, and inventory gains or losses can move a single quarter sharply. The quarterly statements do not carry refining margins, throughput and inventory gains or losses; those come with the filing read.
Written from the quarterly statements. The filing read adds the balance sheet and cash flow filed with this quarter, the auditor's review, segment results, one-off items line by line and what management said on the call.
No check fired. That is a statement about the checks below, not a verdict on the company.
Could not run on this quarter: Headline vs core profit, Exceptional items that recur, Operating margin on the year, Depreciation falling, Finance cost rising, Swing to loss or profit, Cash behind the profit, Receivables against sales, Inventory against sales, Borrowing while holding cash, Auditor's review or audit report, IPO money used as stated, Related-party transactions, Exits, postponements, restatements, Promoter pledges and allotments, Earlier promises against delivery, When the results were filed. Most need the filing read (balance sheet, cash flow, auditor, disclosures).
This quarter's filing carries a balance sheet and a cash flow statement. The cash, receivables and borrowing checks run once the filing read is in.
| Metric | Q2 FY26 |
|---|---|
| Throughput (mmt) | 20.8 |
| Production | 18.1 |
| Realisation ($/bbl) | 9.53 |
| KGD6 Gas Realisation ($/MMBTU) | 9.97 |
| KGD6 Average Gas Production (MMSCMD) | 26.1 |
Read using the Oil, gas and energy framework (named in the filing read). Primary valuation lens: Sum of the parts.
Read more closely in this sector: Inventory gains inside reported margin · Under-recoveries and government compensation.
| Q2 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 | |
|---|---|---|---|---|
| Revenue | ₹2.59 lakh cr | ₹3.25 lakh cr | ₹3.12 lakh cr | ₹3.33 lakh cr |
| YoY | — | — | — | +29% |
| EBITDA margin | 17.7% | 14.9% | 15.2% | 17.0% |
| Other income, % of PBT | 15% | — | 21% | 15% |
| Exceptional items | — | — | — | — |
| Tax rate | 24% | 24% | 25% | 24% |
| Net profit | ₹22,092 cr | ₹20,589 cr | ₹23,196 cr | ₹29,550 cr |
| YoY | — | — | — | +34% |
| Core profit YoY | — | — | — | +33% |
| EPS | ₹13.42 | — | ₹15.48 | ₹18.88 |
| Flags | · | · | · | ✓ |
Each quarter is read with the same rules. Balance-sheet and cash checks run on half-year and annual quarters; filing-read checks run where a read exists.
Reliance Industries Ltd. reported revenue of ₹2.59 lakh cr (— on the year) and net profit of ₹22,092 cr (— on the year) for July to September 2025.
None of the 2 checks that could run raised a question.
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