Reliance Industries Ltd Q2 profit rises 33.8% to ₹29,550 crore

Reliance Industries Ltd reported September-quarter profit of ₹29,550 crore, up 33.8% year on year. The July-September FY27 result set new quarterly highs for reported profit, gross revenue of ₹362,268 crore and EBITDA of ₹62,409 crore, with oil-to-chemicals and digital services supporting the consolidated performance.

How did RIL perform in Q2 FY27?

RIL delivered record reported profit of ₹29,550 crore in the quarter ended September 30, 2026, compared with ₹22,092 crore in the corresponding quarter a year earlier. The reported profit was also 27.39% higher than ₹23,196 crore in the June 2026 quarter, according to the quarterly financial data shared in the discussion.

The company reported several top-line measures. Consolidated gross revenue was ₹362,268 crore, up 27.8% year on year, while net sales turnover was ₹330,601 crore, up 6.83% sequentially from ₹309,468 crore and 29.84% year on year. Total income stood at ₹336,394 crore, compared with ₹316,018 crore in the preceding quarter.

What drove RIL's quarterly earnings growth?

RIL's oil-to-chemicals, or O2C, business was the largest stated contributor to the earnings increase, with quarterly EBITDA rising 67.9% year on year to ₹25,203 crore. O2C revenue increased 44.2% year on year to ₹231,601 crore, supported by higher crude and product prices, stronger transportation fuel cracks and improved downstream chemical margins.

Digital services also added to the growth. Jio Platforms recorded a 17.7% year-on-year increase in EBITDA to ₹22,223 crore. The available results commentary identifies telecom and petrochemicals as the key performing verticals, while strong refining margins and an expanding digital business supported the group result.

Why are different revenue and profit figures being discussed for RIL?

RIL's result discussion contains figures based on different financial measures, so investors should distinguish between net sales, gross revenue and profit attributable to owners. Net sales were ₹330,601 crore, whereas consolidated gross revenue was reported at ₹362,268 crore. Both figures were cited for the same September quarter but describe different revenue measures.

Reported profit after tax was ₹29,550 crore, while consolidated net profit attributable to owners was ₹25,548 crore, up 40.6% year on year from ₹18,165 crore. Separately, the quarterly data table listed profit and loss for the year at ₹29,250 crore. These differences mean comparisons should use the same measure rather than treating every quoted profit number as identical.

How did margins and operating metrics change at RIL?

RIL's operating metrics improved sequentially on the measures cited in the discussion. Operating profit was ₹56,616 crore, up 19.15% from ₹47,517 crore in the June quarter, while the associated EBITDA margin rose to 17.1% from 15.4% sequentially. Another reported consolidated EBITDA measure was ₹62,409 crore, a record and 23.9% higher year on year.

The year-on-year margin comparison was less favourable on the record EBITDA measure. EBITDA margin was 17.2% in Q2 FY27, versus 17.8% in the year-earlier quarter. This indicates that earnings increased strongly in absolute terms even as the margin on that measure was below the prior-year level.

What did the half-year numbers show for RIL?

RIL's reported profit for the April-September FY27 half year reached ₹52,746 crore, up 20% year on year and above the ₹50,000 crore mark. The company was described as the first Indian company to cross that half-year profit threshold.

The group's H1 revenue also crossed ₹6 trillion, according to the results coverage. The half-year milestone follows the record September quarter and reflects gains in O2C and digital services, although retail performance was described as relatively subdued and partly offset broader business strength.

Conclusion

RIL's Q2 FY27 result combined record reported profit of ₹29,550 crore with record gross revenue and EBITDA. O2C delivered the sharpest earnings growth, while Jio Platforms continued to expand EBITDA. Retail remained the weaker element in the group performance cited in the available discussion.

The next point to watch is whether O2C can sustain the improved transportation fuel cracks and downstream chemical margins that lifted its quarterly EBITDA. Investors will also track digital-services momentum, retail performance and whether the difference between gross revenue, net sales and owner-attributable profit remains material in subsequent disclosures.