MUMBAI–Reliance Industries Limited reported a 22% sequential increase in consolidated net profit for the quarter ended September 2026, driven by strong performance in its oil-to-chemicals (O2C) business and digital services division, which helped offset weaker results in its retail and oil and gas operations.
The Indian conglomerate posted a consolidated net profit of Rs 25,548 crore for the second quarter of fiscal 2027, up from Rs 20,946 crore in the preceding quarter, according to a stock exchange filing.
Consolidated revenue rose 6.8% to Rs 3.31 lakh crore from Rs 3.09 lakh crore in the June quarter. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased 19% to a record Rs 56,616 crore.
The company’s EBITDA margin improved to 17.1% from 15.4% in the previous quarter, reflecting stronger profitability across its key business segments.
Reliance’s O2C division was the largest contributor to earnings growth, with segment EBITDA climbing 67.9% year over year to Rs 25,203 crore.
The increase was supported by tighter global fuel supplies, stronger refining margins and favorable feedstock sourcing opportunities.
The company said geopolitical disruptions in international energy markets created opportunities for improved product pricing. Reliance benefited from its ability to diversify crude oil purchases and adjust its product mix in response to changing market conditions.
Higher asset utilization and improved pricing also strengthened earnings from downstream chemicals operations. However, increased logistics expenses and the impact of a special additional excise duty on fuel partially offset those gains.
Reliance’s digital services business also delivered solid growth, with segment EBITDA increasing 17.7% year over year to Rs 22,223 crore.
Telecommunications subsidiary Reliance Jio reported a 10.8% increase in operating revenue to Rs 35,307 crore, while EBITDA rose 14.7% to Rs 20,505 crore.
Jio’s subscriber base expanded to 542.4 million, including 300 million users on its 5G network, highlighting continued demand for high-speed mobile connectivity across India.
The telecom operator’s average revenue per user (ARPU), a key measure of profitability in the industry, increased 3.5% to Rs 218.8 per month, according to its regulatory filing.
The quarterly results underscore the importance of Reliance’s energy and telecommunications businesses in driving earnings growth, even as its retail and upstream oil and gas segments faced challenges. (Source: IANS)
