{"id":89051,"date":"2026-04-27T00:00:00","date_gmt":"2026-04-27T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/mena-india\/?p=89051"},"modified":"2026-04-27T10:03:59","modified_gmt":"2026-04-27T10:03:59","slug":"oil-spike-shipping-costs-drag-reliance-quarterly-income","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/mena-india\/2026\/04\/27\/oil-spike-shipping-costs-drag-reliance-quarterly-income\/","title":{"rendered":"Oil spike, shipping costs drag Reliance quarterly income"},"content":{"rendered":"

Reliance<\/strong> Industries\u2019 net income dropped 13% y-o-y to INR 169.7 bn (USD 1.8 bn) for the February-April period<\/strong>, with the company flagging \u201cunprecedented dislocation\u201d from the US-Israel-Iran war even as results broadly met expectations, according to its quarterly financial report (pdf)<\/a>. Chairman Mukesh Ambani said<\/a> the conflict has severely disrupted global supply chains, reinforcing the need for energy security.<\/p>\n

Refining hit by oil shock: <\/strong>The core oil-to-chemicals business of India\u2019s largest refiner came under pressure as crude prices surged above USD 100 \/ bbl<\/a> and shipping and ins. costs spiked. The effective disruption of the Strait of Hormuz tightened supply, forcing refiners to source more costly crude globally. Margins were hit further as domestic units shifted toward lower-margin LPG production to address local shortages.<\/p>\n

Consumer units cushion impact: <\/strong>The impact was partly offset by strong performance in consumer businesses \u2014 Reliance Jio and Reliance Retail reported robust growth \u2014 with telecom earnings rising and retail expanding store count. Jio\u2019s net income rose 10% y-o-y to INR 73.2 bn (USD 880 mn).<\/p>\n

IN CONTEXT- <\/strong>Jio, which counts Abu Dhabi Investment Authority, Mubadala Investment, and Saudi Arabia\u2019s PIF as shareholders, has been eyeing trimming down small fractions of existing equity<\/a> ahead of its upcoming IPO.<\/p>\n

Global sourcing and outlook:<\/strong> Reliance has diversified crude sourcing to countries like Russia<\/a>, Venezuela, and Brazil to manage disruptions. However, the full extent of the impact will be felt<\/a> in the current June quarter, with continued geopolitical uncertainty clouding earnings visibility.<\/p>\n","protected":false},"excerpt":{"rendered":"

The conglomerate reported a dip in net income as higher crude, freight, and ins. costs hit refining margins \u2014 partly offset by strong telecom and retail growth<\/p>\n","protected":false},"author":1,"featured_media":89052,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2424],"tags":[2506,2423,2402,2731,2689,2564],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89051","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-abu-dhabi-investment-authority","tag-earnings-watch","tag-enterpriseam-india","tag-india-focus","tag-jio-platforms","tag-reliance-industries","wpautop","entry"],"acf":{"mongo_id":"0a61b5ba-8a4c-4a19-a563-824402e43939","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2026\/4\/1363.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Reliance NP dips 13% as oil shock hits core business","related_issue":[89043],"teaser":"The conglomerate reported a dip in net income as higher crude, freight, and ins. costs hit refining margins \u2014 partly offset by strong telecom and retail growth"},"yoast_head":"\nOil spike, shipping costs drag Reliance quarterly income - MENA India Corridors<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/mena-india\/2026\/04\/27\/oil-spike-shipping-costs-drag-reliance-quarterly-income\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Oil spike, shipping costs drag Reliance quarterly income\" \/>\n<meta property=\"og:description\" content=\"The conglomerate reported a dip in net income as higher crude, freight, and ins. costs hit refining margins \u2014 partly offset by 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