Reliance Industries Reports Record Revenue and Files for Jio IPO

Reliance Industries Ltd reported record consolidated gross revenue of ₹3.4 lakh crore for the first quarter of FY27, marking a 24.5% increase year-on-year. While the company achieved a record quarterly recurring consolidated EBITDA of ₹54,067 crore, consolidated net profit fell by 22.4% to ₹20,946 crore. This profit decline was primarily attributed to the absence of a ₹8,924 crore one-time gain from the sale of an Asian Paints stake in the previous year.

Growth was driven by the oil-to-chemicals (O2C) segment, which saw revenue jump 30.4% to ₹2,01,803 crore, benefiting from high fuel margins. For the first time, digital services surpassed the O2C segment as the company's largest single segment EBITDA contributor, with Jio Platforms reporting a record quarterly EBITDA of ₹20,865 crore. In a major strategic move, Jio Platforms filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India to initiate an initial public offering.

Reliance Retail Ventures reported a 7.4% revenue increase to ₹90,408 crore, though profit fell 14.2% to ₹2,806 crore due to heavy investments in digital infrastructure and the scale-up of its quick commerce arm, JioMart. The company is now shifting its strategy toward profitable growth and disciplined expansion. Chairman Mukesh Ambani outlined a long-term plan to double consolidated EBITDA over five years through value-creation pillars including new energy projects and the Jio IPO.