Reliance Industries reported record Q2 FY27 results on October 30, 2026, with consolidated EBITDA of ₹62,409 crore, up 23.9% year-on-year, and profit after tax at ₹29,550 crore, up 33.8%.
Consolidated revenue climbed 27.8% to ₹362,268 crore, driven by a 44% surge in Oil-to-Chemicals revenue and 11% growth in Digital Services. The Oil-to-Chemicals segment posted record EBITDA of ₹25,203 crore, up 67.9%, fueled by unprecedented tightness in global fuel markets, all-time high fuel crack spreads, and increased ethane sourcing from the United States. Diesel and jet fuel cracks rose 3.5x and 3.7x year-on-year respectively. The company notes first-half FY27 O2C performance is tracking annualized EBITDA of over ₹80,000 crore.
Jio Platforms completed India's largest-ever IPO, raising ₹30,188 crore and listing at a 26.7% premium to its issue price. The company now holds a market capitalization exceeding ₹13 lakh crore and ranks as India's second most valuable firm. Jio's total subscriber base reached 542.4 million, including 300 million 5G subscribers, described as the world's largest 5G user base. Fixed broadband subscribers grew to 30 million, with Fixed Wireless Access commanding over 78% market share in India's FWA segment. Jio's revenue from operations grew 11.4% to ₹40,475 crore, while EBITDA rose 16.6% to ₹21,879 crore with a 54.1% margin.
Reliance Retail posted gross revenue of ₹91,716 crore, up 6.4%, with registered customers exceeding 400 million. The retail network expanded by 303 stores to reach 19,947 total locations.
Investors monitoring Reliance Industries (BSE:RELIANCE) should track Oil-to-Chemicals segment margins and crude sourcing dynamics amid global energy tightness, as well as Jio's monetization progress and 5G subscriber growth trajectory.