Reliance Industries Limited reported a net profit of Rs 95,610 crore in FY26, becoming the first Indian company to cross the $10 billion annual profit mark (approximately $10.15 billion). The Mukesh Ambani-led conglomerate, also India’s most valuable company, posted an 18% year-on-year rise in profit after tax (PAT), up from Rs 80,787 crore in FY25.

RIL on Friday reported a 12.6% year-on-year decline in consolidated net profit for the quarter ended March 31, 2026, as weakness in the oil-to-chemicals segment and higher costs weighed on the bottom line. The company’s consumer-facing businesses, however, continued to scale, with Jio Platforms posting strong earnings growth and Reliance Retail crossing 20,000 stores.

Consolidated net profit attributable to owners of the company came in at Rs 16,971 crore for Q4FY26, down from Rs 19,407 crore in the same quarter last year. Gross revenue rose 12.9% year-on-year to Rs 3,25,290 crore.

The company’s revenue also hit a record for the full year. Gross revenue for Q4FY26 rose 13% year-on-year to Rs 3,25,290 crore. For the full year, consolidated gross revenue rose 9.8% to a record Rs 11,75,919 crore. Full-year EBITDA also hit a record at Rs 2,07,911 crore, up 13.4% year-on-year.

Also read: Reliance Industries Q4 results key takeaways: O2C drags profit down 12.6% as Jio, retail hold the fort

Despite a 15% correction in 2026 so far, RIL shares are commanding a market capitalisation of over Rs 18 lakh crore.

While the earnings season is now at the end of its second week, its nearest rivals HDFC Bank and PSU lender State Bank of India (SBI) have significant ground to cover to reach that mark.

HDFC Bank, the next most valuable company by market capitalisation (Rs 12.08 lakh crore), reported a consolidated net profit of $8.07 (Rs 76,026 crore) billion in FY26 versus $7.51 billion (Rs 70,792 crore) in the previous FY, up 7.4% YoY.

While SBI is yet to announce its January-March quarter earnings, its 9MFY26 PAT stands at Rs 63,656 crore. Top brokerages like Nomura and Nuvama Institutional Equities have pegged the Q4 bottom line at Rs 18,700 crore to Rs 20,090 crore.

If the estimates hold true, the FY26 PAT for India’s largest lender could be Rs 83,746 crore, implying a net profit of $8.89 billion.

Domestic IT bellwether Tata Consultancy Services’ (TCS) FY26 PAT stood at Rs 49,454 crore ($5.25 billion).

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