Reliance Industries Ltd (RIL) has disclosed that the Commissioner (Appeals), Central Goods and Services Tax (CGST), Ahmedabad, has issued an order imposing a penalty of ₹57 crore on the company. The penalty arises from a dispute over the classification of services related to the hiring of vessels on a time charter basis during the period between July 1, 2017, and January 24, 2018.
In a regulatory filing, the Mukesh Ambani-led conglomerate confirmed that the tax authorities have alleged underpayment of GST due to the classification adopted for the import of such services. RIL has said it will contest the decision before the appropriate appellate authority.
“The company is in the process of filing an appeal against the said order. The financial impact is limited only to the penalty amount and there is no adverse effect on the company’s business operations,” the filing stated.
Market Reaction
On November 13, 2025, shares of Reliance Industries closed marginally lower at ₹1,510.60, slipping 0.08% on the BSE. The stock movement remained largely stable despite the regulatory development, indicating limited immediate market concern.
Financial Performance
Despite the regulatory setback, RIL’s financial performance continues to remain strong. For the quarter ended September 2025 (Q2 FY26), the company posted a consolidated net profit of ₹18,165 crore, marking a 10% increase from ₹16,563 crore in the same period last fiscal year. However, on a sequential basis, the profit after tax (PAT) fell sharply by 33% from ₹26,994 crore reported in Q1 FY26.
Revenue from operations in the September quarter stood at ₹2.59 lakh crore, up 10% year-on-year from ₹2.35 lakh crore in Q2 FY25. On a quarter-on-quarter basis, revenue grew 4% from ₹2.49 lakh crore in Q1 FY26.
The conglomerate—which operates across energy, petrochemicals, retail, digital services, and media—also reported a 15% year-on-year rise in EBITDA to ₹50,367 crore, driven by improved performance in its oil-to-chemicals and consumer businesses.