RIL sees record profits in March quarter, here’s what Mukesh Ambani drew

Even as Reliance Industries Ltd. posted record profits, its Chairman and Managing Director, Mukesh Ambani, has drawn zero salary for the sixth year in a row. This implies that Ambani drew no salary, no allowances, no perquisites, no retiral benefits, no commission and no stock options for six consecutive years. 

Ambani has voluntarily foregone his remuneration since the COVID pandemic in June 2020. He continued with this decision in FY 2021-22, FY 2022-23, FY 2023-24, FY 2024-25, and now FY 2025-26. 

Even before the coronavirus pandemic, Mukesh Ambani voluntarily capped his total remuneration at ₹15 crore for 12 consecutive years since FY2008-09. 

In FY26, RIL posted a record annual consolidated profit of ₹95,754 crore and a revenue of ₹11.76 lakh crore on the back of the growth in its consumer business despite a weaker March quarter amid the ongoing war in West Asia. The company reported a market capitalisation of ₹18.19 lakh crore ($191.8 billion). 

“Through fiscal FY26, we faced geopolitical disruptions, volatile energy prices and shifting global trade patterns. These headwinds weighed on businesses across the world. India held its economic growth course through all this, as did Reliance. The breadth of our portfolio and strong domestic orientation helped navigate volatility in the external environment,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries.

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RIL’s quarterly net profit went down 8.9% to ₹20,589 crore from a year earlier. The quarterly revenue, however, rose 12.9% to ₹3.25 lakh crore based on the growth across oil-to-chemicals, digital services and retail businesses. 

Its EBITDA (earnings before interest, tax, depreciation, and amortisation) remained flat at ₹48,588 crore. Despite this, Jio Platforms saw an increase of 13% increase in its quarterly profit from ₹7,022 crore to ₹7,935 crore as it added 9.1 million net subscribers during Q4 FY26. 

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Its revenue from operations went up 12.6% to ₹38,259 crore, and the average revenue per user (ARPU) rose 3.8% to ₹215 per month. According to Akash Ambani, Jio now has more than 524 million subscribers across India. 

Reliance Retail’s EBITDA went up 3.1% to ₹6,921 crore, and its gross revenue rose 10.8% to ₹98,232 crore in the March quarter. Reliance Retail opened 1,564 new stores during the quarter, taking the total count to 20,160. 

The oil-to-chemicals EBITDA fell 3.7% to ₹14,520 crore due to higher crude premiums, elevated freight insurance costs, and weaker chemical spreads. Due to the ongoing West Asia conflict, freight costs surged 10-15 times. 

The oil and gas segment also reported an 18.1% drop in EBITDA on the back of decreased production, weaker gas price reductions, and higher operating costs.