Revenue from operations rose 5.53% sequentially to Rs 6,234.91 crore for the quarter ended 30 September 2025.

On a year-on-year (YoY) basis, the company’s net profit declined 53.18%, while revenue from operations fell 14.01% in Q2 FY26.

Total expenses decreased 7.11% to Rs 5,991.49 crore in Q2 FY26 as against Rs 6,450.38 crore in Q2 FY25. The cost of power purchased stood at Rs 3,773.61 crore (down 12.79% YoY), while employee benefit expenses were Rs 299.43 crore (down 1.20% YoY) during the period under review.

The company reported a profit before exceptional items and tax of Rs 1,037.52 crore in Q2 FY26, as against a pre-tax loss of Rs 128.79 crore in Q2 FY25. Exceptional items stood at Rs 1,508.95 crore in Q2 FY26, compared with Rs 3,656.24 crore in Q2 FY25.

EBITDA came in at Rs 2,265 crore, marking a 102% YoY growth from Rs 1,123 crore in Q2 FY25.

On a half-year basis, the company’s net profit tumbled 48.78% to Rs 1,971.04 crore on a 15.97% decrease in revenue to Rs 12,142.73 crore in H1 FY26 over H1 FY25.

Further, the board has approved seeking enabling authorization from shareholders for the issuance of Foreign Currency Convertible Bonds (FCCBs) of up to $600 million, replacing the earlier approved FCCB proposal. The issue will be made through an international offering on a private placement basis or any other mode, subject to requisite permissions, sanctions, and approvals. The terms of the issue will be determined by the board in accordance with shareholder approval at an appropriate time.

Reliance Infrastructure is one of the largest infrastructure companies, developing projects through various Special Purpose Vehicles (SPVs) across several high-growth sectors such as power, roads, and metro rail in the infrastructure space, as well as in the defence sector. It is also a major player in providing Engineering and Construction (E&C) services for power, infrastructure, metro, and road projects.