Reliance Q2 profit jumps 40.6% to Rs 25,548 crore, revenue hits record high

Reliance Industries Limited (RIL) on Friday reported a 40.6 per cent year-on-year increase in consolidated net profit to Rs 25,548 crore for the September quarter of financial year 2026-27, driven by stronger refining margins and improved earnings from its digital services business.

The oil-to-telecom-and-retail conglomerate had posted a consolidated net profit of Rs 18,165 crore in the corresponding quarter of the previous financial year, according to a stock exchange filing.

Revenue from operations surged 28 per cent year-on-year to a record Rs 3.38 lakh crore, reflecting higher contributions across its businesses. However, relatively subdued performance in the retail segment weighed on the company's overall growth momentum.

𝗣𝗿𝗼𝗳𝗶𝘁 𝗿𝗶𝘀𝗲𝘀 𝗼𝗻 𝗾𝘂𝗮𝗿𝘁𝗲𝗿𝗹𝘆 𝗯𝗮𝘀𝗶𝘀

Reliance's consolidated net profit also registered a sequential increase, rising from Rs 20,946 crore in the April-June quarter of FY27 to Rs 25,548 crore in the July-September period.

The increase represented sequential profit growth of approximately 22 per cent, indicating an improvement in the company's earnings performance during the second quarter.

Earnings per share rose to Rs 18.88 from Rs 13.42 in the corresponding quarter last year, reflecting the substantial increase in consolidated profitability.

The results highlighted the contribution of Reliance's diversified business portfolio, with stronger performances in refining and digital services helping offset relatively weaker growth in retail.

𝗥𝗲𝗳𝗶𝗻𝗶𝗻𝗴 𝗺𝗮𝗿𝗴𝗶𝗻𝘀 𝗯𝗼𝗼𝘀𝘁 𝗲𝗮𝗿𝗻𝗶𝗻𝗴𝘀

The oil-to-chemicals business emerged as a major contributor to Reliance's improved profitability during the quarter, benefiting from stronger refining margins.

Higher margins supported earnings from refining operations, providing a significant boost to the conglomerate's consolidated financial performance.

The segment's improvement helped strengthen the company's overall profitability despite uneven growth across its other businesses.

Reliance's refining operations remain an important component of its earnings, with movements in refining margins influencing the performance of its oil-to-chemicals business.

𝗗𝗶𝗴𝗶𝘁𝗮𝗹 𝘀𝗲𝗿𝘃𝗶𝗰𝗲𝘀 𝘀𝘂𝗽𝗽𝗼𝗿𝘁 𝗴𝗿𝗼𝘄𝘁𝗵

Reliance's digital services business provided additional support to earnings, benefiting from higher average revenue per user.

The improvement in per-user earnings strengthened the contribution of the digital segment to the group's overall profitability.

The segment's performance, alongside stronger refining margins, helped Reliance record a substantial increase in net profit during the September quarter.

Digital services continued to play an important role in the company's diversified operations, complementing its traditional energy businesses and consumer-facing retail activities.

𝗥𝗲𝘁𝗮𝗶𝗹 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝘀𝗵𝗼𝘄𝘀 𝘀𝘂𝗯𝗱𝘂𝗲𝗱 𝗽𝗲𝗿𝗳𝗼𝗿𝗺𝗮𝗻𝗰𝗲

While the oil-to-chemicals and digital services segments recorded stronger earnings contributions, Reliance's retail business delivered a comparatively subdued performance during the quarter.

The relatively weaker momentum in retail moderated the overall growth picture, even as consolidated revenue and profitability increased significantly.

The company's diversified business structure nevertheless helped balance differences in performance across its operating segments.

With consolidated revenue reaching Rs 3.38 lakh crore and net profit exceeding Rs 25,500 crore, the September-quarter results reflected the contribution of stronger refining earnings and digital services growth to Reliance's financial performance.

The results also underscored the importance of the company's multiple business verticals in supporting consolidated earnings when individual segments experience differing growth trends.