Reliance Industries Limited (RIL) reported a record financial performance for the second quarter of FY27, with consolidated gross revenue increasing 27.8% year-on-year to ₹3,62,268 crore, compared with ₹2,83,548 crore in the corresponding quarter of the previous financial year.
The company’s consolidated profit after tax (PAT), including the share of profit from associates and joint ventures, rose 33.8% to ₹29,550 crore, compared with ₹22,092 crore in Q2 FY26. Consolidated EBITDA also reached a record ₹62,409 crore, registering growth of 23.9% from ₹50,367 crore in the year-ago quarter.
The strong performance was supported by the company’s Oil-to-Chemicals (O2C) business, which recorded its highest-ever quarterly EBITDA, along with continued growth in Digital Services.
Reliance Industries Q2 Results: Key Financial Highlights
Reliance Industries reported growth across its major consolidated financial parameters during the September 2026 quarter.
Consolidated Performance:
- Gross Revenue: ₹3,62,268 crore, up 27.8% year-on-year.
- EBITDA: ₹62,409 crore, up 23.9% year-on-year.
- EBITDA Margin: 17.2%, compared with 17.8% in Q2 FY26.
- Profit Before Tax (PBT): ₹38,613 crore, up 32.6% year-on-year.
- Profit After Tax: ₹29,250 crore, compared with ₹22,146 crore in Q2 FY26.
- PAT including share of profit from associates and joint ventures: ₹29,550 crore, up 33.8% year-on-year.
The company’s reported PAT of ₹29,550 crore includes ₹300 crore as its share of profit from associates and joint ventures.
Reliance Industries’ O2C Business Records Strong Performance
The Oil-to-Chemicals (O2C) business emerged as a major contributor to Reliance Industries’ earnings growth during Q2 FY27.
The segment reported EBITDA of ₹25,203 crore, registering a 67.9% increase compared with the corresponding quarter of the previous financial year.
The improvement reflected stronger refining margins, favourable product realisations and better feedstock sourcing opportunities. The performance also highlighted the contribution of the O2C business to the company’s overall profitability during the quarter.
Digital Services Business Reports Growth
Reliance Industries’ Digital Services business continued to report healthy growth during the September quarter.
The segment recorded EBITDA of ₹22,223 crore, increasing 17.7% year-on-year. Growth was supported by higher subscriber additions, improved average revenue per user (ARPU) and continued expansion in digital services.
The performance reflects the contribution of the digital business to Reliance Industries’ consolidated earnings.
Reliance Industries H1 FY27 Financial Performance
Reliance Industries also reported record consolidated financial performance for the first half of FY27, covering the six months ended September 30, 2026.
- Gross Revenue: ₹7,02,525 crore, compared with ₹5,56,800 crore in H1 FY26.
- EBITDA: ₹1,16,476 crore, compared with ₹99,467 crore in the corresponding period last year.
- Profit After Tax: ₹52,251 crore, compared with ₹43,903 crore in H1 FY26.
- PAT including share of profit from associates and joint ventures: ₹52,746 crore, compared with ₹43,951 crore.
The company’s consolidated PAT crossed the ₹50,000 crore mark for the first time in the first half of a financial year.
Reliance Industries’ Capital Expenditure and Debt Position
Reliance Industries reported capital expenditure of ₹38,153 crore during Q2 FY27. Its consolidated outstanding debt stood at ₹3,84,952 crore as of September 30, 2026, while cash and cash equivalents were reported at ₹2,67,812 crore.
The company’s net debt stood at ₹1,17,140 crore at the end of the quarter, compared with ₹1,22,914 crore at the end of the June 2026 quarter.
Conclusion
Reliance Industries delivered a record quarterly performance in Q2 FY27, supported by strong growth in consolidated revenue and EBITDA. The O2C business was a key contributor to the improvement in earnings, while Digital Services continued to report healthy growth.
With consolidated PAT crossing ₹52,000 crore in H1 FY27, the company’s performance highlights the contribution of its diversified businesses to overall financial growth.
Source: Reliance Industries Limited’s official media release, consolidated and standalone unaudited financial results, and Q2 FY27 investor presentation dated October 30, 2026.
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