RIL Profit Soars 33.8% on Petrochemicals and Telecom Strength
Reliance Industries reported a 33.8% profit surge to ₹29,550 crore in Q2 FY27, surpassing market expectations due to robust performance in its key business segments.
The Cliff News | 31 October 2026
Reliance Industries Ltd (RIL) announced a significant 33.8% jump in profit after tax, reaching ₹29,550 crore for the quarter ending September 30, 2026. This impressive financial performance exceeded market estimates, driven by strong contributions from its diverse business verticals, particularly its telecom and petrochemical operations.
The conglomerate's financial report showcased its resilience and growth trajectory. In the corresponding period of FY26, RIL had recorded a profit after tax and share of profit/(loss) of associates and JVs at ₹22,092 crore, highlighting a substantial year-on-year improvement.
Record Revenue Achieved
Under the leadership of Mukesh Ambani, RIL also posted its highest-ever quarterly revenue, amounting to ₹362,268 crore. This figure represents a 27.8% increase from the ₹283,548 crore generated in the September quarter of the previous fiscal year.
The primary engine behind this revenue surge was the Oil to Chemicals (O2C) business, which remains the foundational segment of Reliance Industries. The company reported a notable 67.9% leap in EBITDA within the O2C segment, reaching ₹25,203 crore in Q2 FY27, marking the highest quarterly EBITDA for this division.
O2C and Jio Drive Growth
The O2C segment's revenue climbed by 44.2% year-on-year to ₹231,601 crore, significantly influenced by a sharp rise in crude oil and product prices. This segment continues to be a cornerstone of RIL's profitability and operational strength.
Jio Platforms Ltd, which recently had a blockbuster public listing, also demonstrated double-digit growth. Its profit after tax grew by 13.7% to ₹8,387 crore, while its gross revenue saw an increase of 11.3% to ₹47,485 crore. Jio's successful listing earlier this week positioned it as the second-largest company in India by market capitalization.
Retail Segment Faces Headwinds
In contrast, Reliance Retail Ventures Ltd, India's largest retail entity, experienced a more subdued performance. The company recorded a modest 6.4% growth in gross revenue, reaching ₹91,716 crore. However, its profit after tax saw a significant decline of 24.5% to ₹2,619 crore in the second quarter.
During the September quarter, Reliance Industries channeled substantial investments, totaling ₹38,153 crore. These investments were primarily allocated to the ongoing O2C and new energy projects, alongside the expansion of its consumer business infrastructure and distribution networks.
"Our businesses delivered a strong performance despite a complex operating environment. Commodity markets remained volatile while geopolitical tensions continued to weigh on global supply chains," stated Mukesh Ambani, chairman and managing director of RIL.
Ambani further emphasized the India-centric nature of RIL's portfolio. He noted that the company's domestic focus, coupled with disciplined operations and the inherent versatility of its integrated businesses, enabled Reliance to effectively navigate external market volatilities.