Reliance Q2 FY27: Record ₹29,550 Crore Profit Sends Shares Up Nearly 8%; O2C Leads, Retail Profit Falls 24%
Reliance posted a record Q2 FY27 profit of ₹29,550 crore, up 33.8%, and its shares jumped nearly 8%. O2C led, Jio grew, but Reliance Retail’s profit fell 24%.
Photo: 312user / CC BY-SA 4.0, via Wikimedia Commons
Mumbai, 8th November 2026: Reliance Industries reported its highest-ever quarterly profit for July to September 2026, and its shares jumped nearly 8% on Monday, November 2, as investors cheered a sharp recovery in its oil-to-chemicals (O2C) business.
Consolidated profit after tax rose 33.8% year on year to ₹29,550 crore in Q2 FY27, Outlook Business reported. Profit attributable to shareholders rose about 41% to ₹25,548 crore.
Reliance Q2 FY27 in numbers
- Consolidated profit after tax: ₹29,550 crore, up 33.8%
- Profit attributable to owners: ₹25,548 crore, up about 41% from ₹18,165 crore
- Gross revenue: ₹3,62,268 crore, up 27.8%
- EBITDA: ₹62,409 crore, up about 24%
- Jio Platforms profit: ₹8,387 crore, up about 14%
- Reliance Retail profit: ₹2,611 crore, down 24.3%
O2C carried the quarter
The refining and petrochemicals arm delivered the sharpest earnings growth. Brent crude averaged about $91.4 a barrel during the quarter after a September spike linked to US-Iran tensions, and refining margins were at multi-decade highs, according to market reports.
Jio continued to grow steadily. Its subscriber base reached 542.4 million, with 9.1 million net additions in the quarter. Reliance Retail was the weak spot: its revenue rose 5.8% to ₹80,220 crore, but profit fell 24.3%.
Jio’s numbers and the debt picture
Jio Platforms’ gross revenue rose 11.3% to ₹47,485 crore and its EBITDA rose 16.6% to ₹21,879 crore. Monthly churn, the share of customers leaving, fell to 1.6% from 1.9% a year earlier.
Reliance’s consolidated profit was also 27.4% higher than the ₹23,196 crore of the previous quarter. Outstanding debt stood at ₹3,84,952 crore at the end of September, against cash and equivalents of ₹2,67,812 crore, according to the company’s release.
What a finance creator asked followers
CA Rachana Ranade (@ca_rachanaranade) posted on November 2 that Reliance shares had surged nearly 8% after the strong results, crediting O2C for leading the growth and Jio for steady performance, and asked followers whether the company could sustain the momentum.
The stock rose as much as 8.2% to about ₹1,259 in early Monday trade, The Free Press Journal reported. Brokerages including Nomura kept Buy ratings, with Nomura’s target at ₹1,560.
View this post on Instagram
Post: @ca_rachanaranade on Instagram
What to watch next
- Whether refining margins hold if crude prices ease
- A turnaround plan for Reliance Retail’s profitability
- Rising finance costs, which grew about 24% from a year earlier
This article is for information only and is not investment advice.
For India’s other big results this season, see our business section.
Frequently asked questions
What was Reliance’s Q2 FY27 profit?
Consolidated profit after tax was a record ₹29,550 crore, up 33.8% year on year; profit attributable to owners was ₹25,548 crore.
Why did Reliance shares rise after Q2 results?
Investors welcomed the record profit, led by a strong recovery in the oil-to-chemicals business and steady growth at Jio.
Which Reliance business did badly in Q2 FY27?
Reliance Retail, whose net profit fell 24.3% to ₹2,611 crore even as revenue rose 5.8%.
