Reliance Industries Ltd (RIL), led by Chairman Mukesh Ambani, reported a robust 33.8 per cent year-on-year increase in profit after tax (PAT) to ₹29,550 crore for the second quarter ended September 30, beating market estimates. The growth was driven by exceptional performance across core verticals, particularly oil-to-chemicals (O2C) and digital services, up from ₹22,092 crore in the corresponding period of FY26. Consolidated quarterly revenue reached a record ₹362,268 crore, representing a 27.8 per cent expansion over ₹283,548 crore recorded in Q2 of the previous fiscal year. The O2C division served as the primary growth engine, delivering its highest-ever quarterly EBITDA of ₹25,203 crore—a 67.9 per cent surge—while segment revenue advanced 44.2 per cent to ₹231,601 crore on the back of elevated crude and product prices. Following its recent market debut that positioned it as India’s second-largest company by market capitalization, Jio Platforms Ltd maintained solid momentum with a 13.7 per cent rise in PAT to ₹8,387 crore and an 11.3 per cent increase in gross revenue to ₹47,485 crore. Conversely, Reliance Retail Ventures Ltd experienced subdued performance; while gross revenue rose 6.4 per cent to ₹91,716 crore, profit after tax declined 24.5 per cent to ₹2,619 crore. Capital expenditure for the quarter stood at ₹38,153 crore, directed primarily toward new energy projects, O2C enhancements, and infrastructure expansion across consumer channels. Commenting on the performance, Mukesh Ambani attributed the results to operational discipline, versatility, and a strong domestic orientation that effectively shielded the conglomerate from volatile commodity markets and ongoing global supply chain disruptions.
Jio and O2C Power RIL Growth to Beat Market Forecasts Despite Retail Margin Pressure
