Reliance Industries reported record Q2 FY27 results with revenue reaching Rs 3,62,268 crore and profit surging to Rs 29,550 crore. The performance was driven by strong O2C business margins and significant growth in Jio’s 5G subscriber base.
Reliance Industries Reports Record Financial Growth
Reliance Industries Limited (RIL) on Friday reported its highest-ever quarterly consolidated gross revenue of Rs 3,62,268 crore for the July-September quarter of financial year 2026-27 (Q2 FY27), registering a 27.8 per cent year-on-year increase, while profit surged 33.8 per cent to Rs 29,550 crore, its highest quarterly level on a recurring basis. The company’s consolidated earnings before interest, tax, depreciation and amortisation (EBITDA) rose 23.9 per cent to a record Rs 62,409 crore, compared with Rs 50,367 crore in the corresponding quarter last year, according to its media release filed with the stock exchanges. Reliance also crossed the Rs 50,000 crore profit mark in the first half of FY27, with consolidated profit reaching Rs 52,746 crore, a record on a recurring basis.
Performance of Core Business Segments
The company’s oil-to-chemicals (O2C) business delivered its best-ever quarterly performance, with EBITDA rising 67.9 per cent year-on-year to Rs 25,203 crore. Segment revenue increased 44.2 per cent to Rs 2,31,601 crore, supported by stronger transportation fuel refining margins and improved petrochemical margins amid global supply disruptions. “Our O2C business delivered a particularly strong performance this quarter, led by tight fuel markets, improved downstream petrochemical deltas and firm domestic demand,” said Mukesh D Ambani, Chairman and Managing Director of Reliance Industries.
Digital Services and Jio Expansion
The digital services business also recorded growth, with Jio Platforms reporting an 11.3 per cent rise in revenue to Rs 47,485 crore and a 16.6 per cent increase in EBITDA to Rs 21,879 crore. Jio crossed two major milestones during the quarter, reaching 300 million 5G mobile subscribers and 30 million fixed broadband subscribers. Its total customer base stood at 542.4 million, with 9.1 million net additions during the quarter. Average revenue per user (ARPU) increased to Rs 218.8 from Rs 211.4 a year earlier. The company also highlighted Jio Platforms’ Rs 30,188 crore initial public offering, completed on October 28, 2026, which it described as India’s largest IPO to date. Following its stock market listing, Reliance said Jio Platforms became India’s second-most valuable company. Commenting on the development, Ambani said, “This week marked a historic moment in Reliance’s value creation journey with Jio’s record-setting listing on Indian bourses.”
Retail and Exploration Updates
Reliance Retail Ventures reported a 6.4 per cent increase in gross revenue to Rs 91,716 crore. However, its EBITDA before a one-time impairment charge declined 8.6 per cent to Rs 6,228 crore, reflecting investments in digital commerce, higher input costs and the shift of major festivals to the third quarter. JioMart continued its expansion, reporting 42 per cent year-on-year revenue growth. Meanwhile, Reliance’s oil and gas exploration business recorded revenue of Rs 6,020 crore, down 0.6 per cent year-on-year, while EBITDA declined 2 per cent to Rs 4,901 crore, mainly due to lower KG-D6 gas production and price realisations. “During 2Q FY27, our businesses delivered a strong performance despite a complex operating environment,” Ambani said. Reliance’s capital expenditure during the quarter stood at Rs 38,153 crore, primarily towards O2C and New Energy projects and the expansion of its consumer businesses. The company’s net debt stood at Rs 1,17,140 crore as of September 30, 2026, compared with Rs 1,22,914 crore at the end of the preceding quarter.
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