Reliance Industries Reports 41% Surge in Profit
Mumbai, October 30: Reliance Industries has announced impressive financial results for the second quarter of the fiscal year 2026-27, with a consolidated net profit soaring by 41% year-on-year to ₹25,548 crore. This marks a significant increase from ₹18,165 crore in the same quarter last year. The growth is attributed to strong performances in both the oil and chemicals (O2C) sector and the digital business.
In particular, Reliance’s digital arm, Jio Financial Services, saw its profit more than double in the first quarter. The company’s operational revenue also witnessed a substantial rise, increasing by 29% to ₹3.32 lakh crore compared to ₹2.58 lakh crore during the same period last year.
Chairman Mukesh Ambani highlighted that despite global business challenges and fluctuations in raw material prices, all segments of Reliance performed well. The O2C business was the standout performer, with its EBITDA rising by 68% to ₹25,203 crore, driven by high crude oil prices and improved margins in refining and petrochemicals.
Jio Platforms, meanwhile, reported a 14% increase in profit, reaching ₹8,387 crore, with revenue climbing by 11.4% to ₹40,475 crore. The company added 9.1 million new customers, bringing its total customer base to 542.4 million.
However, the oil and gas segment showed some weakness, with EBITDA declining by 2% to ₹4,901 crore due to reduced production from the KG-D6 gas field. Reliance also reported a decrease in net debt, which stood at ₹1.17 lakh crore at the end of September, down from ₹1.22 lakh crore in June.
Overall, Reliance Industries continues to demonstrate robust growth across its diverse business segments.
Bhupendra Singh Chundawat is a seasoned technology journalist with over 22 years of experience in the media industry. He specializes in covering the global technology landscape, with a deep focus on manufacturing trends and the geopolitical impact on tech companies. Currently serving as the Editor at Udaipur Kiran, his insights are shaped by decades of hands-on reporting and editorial leadership in the fast-evolving world of technology.