Reliance Industries Reports Record Q2 Profits and Raises 15,000 Crore

Reliance Industries reported record financial results for the second quarter of FY27, with consolidated net profit rising to ₹29,550 crore, a 34% increase year-on-year. Revenue reached an all-time high of ₹3.62 lakh crore, fueled by the oil-to-chemicals (O2C) and digital services segments. The O2C business saw its strongest quarterly performance to date, with EBITDA surging 67.9% to ₹25,203 crore.

Concurrent with the earnings report, the company board approved a resolution to raise up to ₹15,000 crore through the issuance of listed, redeemable non-convertible debentures via private placement. This fundraising follows a historic milestone for the conglomerate: the October 28 listing of Jio Platforms, which completed India's largest-ever IPO and raised ₹30,188 crore.

Jio Platforms reported a 14% year-on-year profit increase to ₹8,389 crore in its first earnings report following its market debut, with a subscriber base exceeding 542 million. In contrast, the retail unit experienced a decline in profitability due to inflation and a shift in the festive calendar. Chairman Mukesh Ambani attributed the overall strong performance to operational discipline and a domestic portfolio that mitigated global supply chain volatility and commodity market fluctuations.