MUMBAI: Reliance Industries, India’s most valuable company by market capitalisation, reported a 34% rise in second-quarter profit for FY27 to Rs 29,550 crore on Friday, beating analysts’ average estimate of Rs 21,419 crore. The increase was driven by strong performance at its oil-to-chemicals (O2C) and Jio digital services businesses. Revenue increased 29% to over Rs 3.3 lakh crore, while ebitda climbed 26% to Rs 61,224 crore. Expenses rose 28% to Rs 3 lakh crore.RIL CMD Mukesh Ambani said the O2C business delivered a particularly strong performance in the quarter, led by tight fuel markets, improved petrochemical margins and firm domestic demand.Ebitda at the O2C division, which accounted for 41% of total operating profit, jumped 68% year-on-year to Rs 25,203 crore. Stronger transportation fuel and downstream margins drove the gain.Jio Platforms, which made a blockbuster stock market debut this week, posted an 18% rise in ebitda to Rs 22,223 crore on strong revenue growth, operating leverage and a 250-basis-point margin expansion. Average revenue per user rose nearly 4% to Rs 219, helped by a better subscriber mix and increased usage, partly offset by broadband promotions.
Mukesh Ambani-led Reliance posts 34% growth in Q2 profit, with revenue crossing Rs 3.3 lakh crore; board approves Rs 15,000 crore fundraising plan
Ebitda at the retail unit fell 10% to Rs 6,120 crore, even as revenue grew 6% to Rs 80,220 crore in the second quarter of FY27. RIL said performance was affected by the shift in the festive calendar to the third quarter.Ebitda at the oil and gas division slipped 2% to Rs 4,901 crore due to lower revenue and higher govt levies. Ebitda from smaller businesses, including media and consumer products, was flat at Rs 2,777 crore.RIL had a cash balance of over Rs 2.6 lakh crore, comfortably covering net debt of Rs 1.2 lakh crore. Capital expenditure totalled Rs 38,153 crore, largely driven by investments in O2C and new energy projects, and by the expansion of infrastructure and distribution networks of its consumer businesses.The RIL board on Friday approved a plan to raise Rs 15,000 crore through listed, redeemable non-convertible debentures.“This week marked a historic moment in Reliance’s value creation journey with Jio’s record-setting listing on Indian bourses. It demonstrates the depth of confidence investors place in Jio’s solid foundation and strong growth visibility.“I am proud to witness the rejuvenation of “the equity cult” originally pioneered by our founder-chairman during the 1977 Reliance IPO,” said RIL chairman Mukesh Ambani.
