New Delhi, Oct. 20 -- Reliance Industries Ltd (RIL) sailed through the September quarter (Q2FY26) buoyed by a favourable base in the oil to chemicals (O2C), retail and telecom (Jio Platforms Ltd) businesses. Among them, the performance of the O2C segment is critical for RIL's outlook as the other two prepare for listing.

The O2C saw a multi-quarter low Ebitda in Q2FY25, both in absolute terms and per tonne of crude oil throughput (quantity of crude oil processed). This helped a year-on-year revival in Q2FY26. However, O2C saw 5% sequential decline in Ebitda/tonne of crude oil processed in Q2FY26. Crude oil throughput or volume was up 9% sequentially to 20.8 million tonnes, but it led to just 3% growth in absolute Ebitda as the higher pro...