As Reliance posts Q1 results, Asian Paints, Kelvinator deals hog limelight

Reliance Industries Ltd (RIL), India’s largest company by market value, on Friday (July 18) reported a big jump in profits for the quarter ended June 2025 (Q1 FY26), thanks largely to a one-time windfall from selling its stake in Asian Paints.

Earlier in the day, Reliance announced the acquisition of Kelvinator, the once-famous refrigerator brand, marking a new move into India’s fast-growing home appliance space.

Net profit zooms

Reliance posted a net profit of Rs 26,994 crore for the June quarter; a 78% rise from Rs 15,138 crore in the same period last year. A big chunk of that came from a one-time gain from selling shares in Asian Paints, which added nearly Rs 9,500 crore to its bottom line. Without this, Reliance’s net profit for the quarter would have been much lower around Rs 17,400 crore.

Total revenue for the quarter was Rs 2.48 lakh crore, up 5.3% from a year ago. The company’s operating profit, also known as EBITDA (earnings before interest, tax, depreciation, and amortisation), grew 16% year-on-year to Rs 44,965 crore.

Revenue from Reliance Retail rose 11.3% to Rs 84,171 crore. Operating profit for the division grew to Rs 6,381 crore. The company now operates over 19,000 stores across India, and says it is expanding rapidly both offline and online.

Reliance Jio ARPU rises

When it came to telecom, Reliance Jio added millions of new users, crossing 200 million 5G subscribers. Average revenue per user (ARPU), a key metric for telecom firms, rose to Rs 208.8. Jio’s operating profit was up 24% to Rs 18,135 crore. It also became the world’s largest fixed wireless internet provider through its JioAirFiber service this year.

RIL's oil-to-chemicals (O2C) business saw a small dip in revenue due to lower crude oil prices and planned maintenance work. However, profit rose 10.8%, helped by stronger margins on domestic fuel sales. In the oil and gas section, output from gas fields continued to decline and operating profit slipped 4.1%.

Chairman Mukesh Ambani said Reliance had started FY26 with strong performance across its main businesses, despite global economic challenges.

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Kelvinator deal

Reliance Retail earlier today announced the acquisition Kelvinator, a household name in refrigerators and appliances for decades. Financial details weren’t disclosed, but the deal gives Reliance an entry into the white goods market, with a brand many Indian families still remember.

Kelvinator was once known for its solid products and memorable tagline, “The Coolest One.” While it lost market share after liberalisation, the brand still enjoys strong name recognition.

Reliance plans to bring Kelvinator back into Indian homes by offering a full range of products, from refrigerators and washing machines to air conditioners and kitchen appliances. It hopes to combine the brand’s nostalgic value with rising demand for premium appliances in Indian cities and towns.

Retail network

Reliance runs over 19,000 stores across India and has a strong online presence. It plans to use that reach to grow Kelvinator fast and take on major appliance makers.

However, analysts caution that the company now needs to deliver. Analysts said that investors are keeping an eye on possible IPOs of Jio and Reliance Retail, as well as how quickly Kelvinator can be turned into a competitive business.