Reliance Industries and Jio Platforms are set to be in the spotlight on Monday after announcing their Q2 FY27 results, with investors assessing the earnings impact on both stocks.
The results mark an important milestone for recently listed Jio Platforms, which has become the second-largest listed entity in the Reliance Group by market capitalisation, after Reliance Industries
The market reaction on Monday will offer the first indication of how investors are evaluating the two companies’ latest quarterly performance.
Reliance Industries posts record profit
Reliance Industries Ltd reported a record consolidated profit after tax (PAT) of ₹29,550 crore for the July-September quarter (Q2 FY27), marking a 33.8% increase from ₹22,092 crore in the year-ago period. Revenue rose 27.8% year-on-year (YoY) to ₹3,62,268 crore, while EBITDA increased 23.9% to a record ₹62,409 crore.
The strong performance was primarily driven by a recovery in the oil-to-chemicals (O2C) business, where EBITDA surged 67.9% to ₹25,203 crore, supported by higher global fuel margins and improved petrochemical spreads. O2C revenue increased 44.2% to ₹2,31,601 crore, with supply disruptions in West Asia and other regions pushing transportation fuel cracks higher.
Digital services also supported earnings, while the retail business remained a relative weak spot. Reliance Retail Ventures reported a 24.3% decline in PAT to ₹2,611 crore, despite a 6.4% rise in revenue to ₹91,716 crore. Its EBITDA, before a one-time impairment charge, fell 8.6% to ₹6,228 crore.
Commenting on the results, Chairman Mukesh Ambani said the company’s businesses delivered a strong performance despite volatile commodity markets and geopolitical tensions. He highlighted the particularly strong performance of the O2C business, supported by tight fuel markets, improved downstream petrochemical margins and firm domestic demand.
Jio Platforms reports 13.7% rise in Q2 profit; ARPU increases to ₹218.8
Jio Platforms reported an 11.3% YoY increase in revenue to ₹47,485 crore for Q2 FY27, while EBITDA rose 16.6% to ₹21,879 crore. Its EBITDA margin expanded 250 basis points to 54.1%, while profit after tax increased 13.7% to ₹8,387 crore.
The company’s average revenue per user (ARPU) rose to ₹218.8 per month from ₹211.4 a year earlier. Its subscriber base reached 542.4 million, including 300 million 5G users, while fixed broadband connections crossed 30 million homes.
The quarterly results come three days after Jio Platforms completed its ₹30,188-crore initial public offering (IPO). The shares made a strong market debut at a 26.7% premium to the issue price, taking the company’s market capitalisation to around ₹13.1 lakh crore and making it the second-most valuable listed company in the Reliance Group after Reliance Industries.
Chairman Mukesh Ambani described Jio’s listing as a historic moment in Reliance’s value-creation journey, highlighting the strong investor response to the IPO, which was subscribed more than 22 times.
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