Reliance Industries Reports Record Q2 Profit of Rs 29,550 Crore, Revenue Rises 28%

Reliance Industries Limited (RIL), led by Mukesh Ambani, has reported record financial results for the second quarter of FY2026-27, ended September 30, 2026. The company's consolidated net profit increased 33.8% year-on-year to Rs 29,550 crore, compared with Rs 22,092 crore in the corresponding quarter last year. Consolidated revenue rose around 28% to Rs 3,62,268 crore, while EBITDA grew 23.9% to Rs 62,409 crore. Earnings per share increased from Rs 13.42 to Rs 18.88. For the first half of the financial year, net profit stood at Rs 52,746 crore. The company's net debt declined from Rs 1,22,914 crore at the end of June to Rs 1,17,140 crore as of September 30. Improved refining margins and growth in Jio's business were among the key contributors to the performance.

The Oil-to-Chemicals (O2C) segment recorded a strong performance, with EBITDA rising 67.9% to Rs 25,203 crore and revenue increasing 44.2% to Rs 2,31,601 crore. Reliance Retail's revenue grew 6.4% to Rs 91,716 crore, but its net profit fell 24.5% to Rs 2,619 crore; the business had 19,947 stores at the end of September. The Oil and Gas segment recorded a 0.6% decline in revenue to Rs 6,020 crore, while EBITDA fell 2% to Rs 4,901 crore. JioStar's gross revenue increased 9.8% to Rs 7,944 crore, although its EBITDA declined 13.6% to Rs 1,502 crore. Separately, RIL's board approved raising up to Rs 15,000 crore through the issue of non-convertible debentures. Jio Platforms reported a 13.7% year-on-year rise in consolidated net profit to Rs 8,389 crore and an 11.4% increase in revenue to Rs 40,475 crore. Its subscriber base grew by 91 lakh during the quarter to 54.24 crore, including 30 crore 5G users. Average revenue per user rose to Rs 218.8, while monthly data consumption per user reached 44.2 GB.