Reliance Industries misses profit estimates in Q2 but retail shows steady growth

Reliance Industries missed its overall profit estimates in the second quarter of the 2026 financial year but its retail business showed steady growth with Reliance Retail Ventures Limited’s revenue from operations increasing by 19% year on year.

RRVL’s gross revenue was up by 18% year on year to total Rs 90,018 crore, the business announced in a press release. The retail business’ profit after tax surged by 21.9% to Rs 3,457 crore and EBITDA was up by 16.5% year on year in the second quarter.
 
“Reliance Retail delivered strong performance during the quarter led by our relentless focus on operational excellence, investments in stores and digital platforms, and festive buying across consumption baskets,” said Reliance Retail Ventures Limited’s executive director Isha M Ambani in a press release. “GST rate changes will further accelerate consumption growth as consumers get the benefit of lower prices. Our success is a testament to our deep understanding of the consumer. We consistently innovate, from curating new collections to creating campaigns that connect with today’s Indian consumer, and our focus remains on building brands that inspire and resonate across India.”

Under its fashion umbrella, retail formats Yousta and Azorte reported growth of 66% year on year and Yousta reached the 100-store milestone during the quarter. Ethnic wear saw strong demand with the onset of the festive season and the accessories, footwear, fashion jewellery, and beauty segments witnessed an uptick in demand.
 
Reliance Industries Limited’s consolidated financial highlights show that its gross revenue increased by 9.9% year on year in the second quarter of the 2026 financial year. The business’ total profit after tax rose by 15.9% during the quarter to total Rs 22,146 crore.
 
“Reliance delivered a robust performance during 2QFY26 led by strong contribution from O2C, Jio, and Retail businesses,” said Reliance Industries Limited’s chairman and managing director Mukesh D Ambani. “I am happy to highlight the growth momentum of our Retail business. All formats registered higher volume, propelling strong growth in both revenue and EBITDA. There has also been a sustained pick-up in our quick hyperlocal delivery model. The recently announced progressive reforms in GST regime provide a boost to continuing consumption-led growth.”