Report
Reliance Industries Q2 FY27 results report
Reliance Industries made a record INR 295.5bn ($3.08bn) profit in July–September 2026, up 33.8%, as its oil-to-chemicals business had its best quarter. Profit, cash, debt, segments and volumes, from the company’s own results.
Reliance Industries made a record profit of INR 295.5bn ($3.08bn) in July–September 2026, the second quarter of its 2026–27 financial year (Q2 FY27), up 33.8% on a year earlier. The results were published on 30 October 2026. Profit attributable to Reliance shareholders, after the share of minority owners in subsidiaries such as Jio, was INR 255.5bn ($2.67bn).
Revenue rose 27.8% to INR 3.62tn ($37.8bn), mostly because oil and fuel prices were much higher than a year earlier. EBITDA, which is profit before interest, tax, depreciation and amortisation, reached a record INR 624.1bn ($6.51bn).
| Key number | Q2 FY27 | Change |
|---|---|---|
| Profit after tax (incl. associates) | INR 295.5bn ($3.08bn) | +33.8% vs Q2 FY26 |
| Gross revenue | INR 3.62tn ($37.8bn) | +27.8% vs Q2 FY26 |
| Oil-to-chemicals EBITDA | INR 252.0bn ($2.63bn) | +67.9% vs Q2 FY26 |
| Net debt, 30 September 2026 | INR 1.17tn ($12.2bn) | 0.47 times annualised EBITDA |
The oil-to-chemicals (O2C) business, which runs Reliance’s Jamnagar refineries and petrochemical plants, had its best quarter on record. Its EBITDA rose 67.9% to INR 252.0bn ($2.63bn), because the profit on each barrel of diesel and petrol it made rose three- to four-fold. Jio, the digital business, grew EBITDA 17.7% to INR 222.2bn ($2.32bn), while the retail business earned less than a year earlier.
Reliance gives no numerical profit or production guidance. Capital expenditure was INR 381.5bn ($3.98bn) in the quarter, mainly on oil-to-chemicals and new energy projects and on the consumer businesses, and net debt fell to INR 1.17tn ($12.2bn).
The record quarter came mostly from refining. Tight world fuel markets raised Reliance’s margins far more than the extra costs of crude, freight and the export duty. Jio adds steady growth, and its listing raised cash and set a market value for the digital business. Net debt is low at under half of annual EBITDA, so the next quarters will turn mainly on how long fuel margins stay this high.
What the full report covers
The full report is a 7-page PDF for $9.99, available to download straight after payment. It covers:
- Headline numbers against the prior quarter and the prior year
- Profit, reported and adjusted, and what moved it
- Revenue and operating cash flow
- Capex, net debt and gearing
- Buybacks and dividends
- Segment results, with a table and a chart
- Production and throughput
- Guidance and outlook
- What it means
- Notes on the numbers and a full list of sources
The Reliance logo is used only to identify the company this report is about. Entelera Research is independent and has no connection with, or endorsement from, Reliance.
Sources
- Reliance Industries Limited, Media release: consolidated results for the quarter ended 30 September 2026, 30 October 2026: rilstaticasset.akamaized.net
- Reliance Industries Limited, Audited financial results for the quarter and half year ended 30 September 2026 (stock exchange filing), 30 October 2026: rilstaticasset.akamaized.net
This summary is for information only and is not investment advice. It is based solely on the company’s own published results documents listed above; Entelera Research has not audited them. © 2026 Entelera (entelera.com).