Reliance Industries Limited (RIL), India's largest company by market capitalization at nearly ₹18 trillion, reported a 12.6% year-on-year decline in consolidated net profit for the January-March 2026 quarter, amounting to ₹16,971 crore. This decline is attributed to increased feedstock prices due to disruptions in global energy markets stemming from the ongoing West Asia conflict. RIL's consolidated net sales, however, rose 12.5% year-on-year to a record ₹2.94 trillion, marking the fastest growth in the past 13 quarters. For the fiscal year 2026, RIL achieved an annual revenue of ₹10.57 trillion, making it the first Indian company to surpass the ₹10 trillion mark. Despite the overall profit decline, RIL's Jio Platforms performed well, posting a 13% increase in net profit to ₹7,935 crore for the quarter. The company faced significant challenges, including rising crude premiums and elevated freight costs, which impacted its oil-to-chemicals business and constrained margins. Mukesh Ambani, RIL's chairman, noted that geopolitical disruptions and volatile energy prices affected businesses globally, but RIL's diverse portfolio helped navigate these challenges.