Highest ever quarterly revenue at ₹ 362,268 crore, PAT ₹ 29,550 crore; Jio Platforms lists on exchanges
Reliance Industries released its media release on unaudited consolidated and standalone results for the quarter and half year ended September 30, 2026.
By ScoutQuest · · 3 min read
- Gross Revenue
- ₹ 362,268 crore, up 27.8% Y-o-Y
- EBITDA
- ₹ 62,409 crore, up 23.9% Y-o-Y
- Profit After Tax (incl. share of associates/JVs)
- ₹ 29,550 crore, up 33.8% Y-o-Y
A quarterly results media release
The update is a media release accompanying the consolidated and standalone unaudited financial results for the quarter and half year ended September 30, 2026, approved by the Board of Directors. It sets out headline numbers, segment commentary, the Jio Platforms listing, and detailed tables.
Consolidated headline numbers (2Q FY27)
- Gross Revenue at ₹ 362,268 crore, up 27.8% Y-o-Y
- EBITDA at ₹ 62,409 crore, up 23.9% Y-o-Y
- EBITDA margin at 17.2%, against 17.8% a year earlier (60 bps lower)
- Profit After Tax and Share of Profit/(Loss) of Associates & JVs at ₹ 29,550 crore, up 33.8% Y-o-Y
- Capital Expenditure for the quarter at ₹ 38,153 crore
- Net Debt at ₹ 117,140 crore; Net Debt to EBITDA at 0.47
The company described the revenue figure as its highest ever and the quarterly EBITDA and PAT as records. For the half year, Gross Revenue was ₹ 702,525 crore and PAT (including share of associates and JVs) was ₹ 52,746 crore.
What drove the numbers
- Oil to Chemicals revenue rose 44.2% Y-o-Y, with O2C EBITDA up 67.9%, helped by a sharp rise in crude and product prices and strong transportation fuel cracks.
- Digital Services (Jio Platforms) revenue rose 11.3% to ₹ 47,485 crore and EBITDA rose 16.6% to ₹ 21,879 crore.
- Reliance Retail Ventures revenue rose 6.4% to ₹ 91,716 crore, while EBITDA was ₹ 6,228 crore, down 8.6% Y-o-Y, with margin at 7.8%.
- Depreciation rose 6.2% to ₹ 15,315 crore and Finance Costs rose 24.2% to ₹ 8,481 crore, both partly linked to capitalisation of 5G assets.
Jio Platforms highlights
- Total customer base of 542.4 million, with monthly churn at 1.6% and monthly ARPU at ₹ 218.8.
- 5G subscriber base at 300 million and fixed broadband subscribers at 30.0 million as of September 2026.
- Initial Public Offering of ₹ 30,188 crore completed on 28th October 2026, described as the largest in India till date, by way of a fresh issue of 27,00,00,000 equity shares of face value ₹ 10 each at an issue price of ₹ 1,119 per equity share.
- An aggregate ₹ 27,500 crore of the net proceeds was utilised towards prepayment, in full or in part, of the principal amount outstanding of certain External Commercial Borrowings of Reliance Jio Infocomm Limited, with the balance to be used for general corporate purposes.
Reliance Retail highlights
- EBITDA before a one-time impairment charge of ₹ 108 crore was ₹ 6,228 crore.
- Profit After Tax and Share of Profit/(Loss) of Associates & JVs at ₹ 2,611 crore, down 24.3% Y-o-Y.
Management commentary
The Chairman and Managing Director, Mukesh D. Ambani, described the quarter as a strong performance despite a complex operating environment, noting volatility in commodity markets and geopolitical tensions weighing on global supply chains. He said the domestic orientation of the portfolio and operational discipline helped navigate external volatility, and called the Jio IPO a defining milestone.
What a retail investor can take away
- The release gives both the headline profit growth and the moving parts behind it: strong O2C and Digital Services performance, a softer quarter for Reliance Retail, and higher depreciation and finance costs.
- The balance sheet marker given is Net Debt to EBITDA of 0.47, and capital spending of ₹ 38,153 crore in the quarter.
- The Jio Platforms listing and the use of IPO proceeds to prepay borrowings at Reliance Jio Infocomm are set out with the specific amounts and share terms.
Also from Reliance Industries
Reliance Q2 FY27: record consolidated EBITDA of ₹62,409 crore as O2C revenue jumps 44%, PAT up 33.8%
30 Oct 2026
Board approves September-quarter results, authorises NCDs up to Rs. 15,000 crore
30 Oct 2026
Reliance Industries expected to report a strong quarter led by refining and consumer businesses; Jio Platforms to report first independent earnings
30 Oct 2026
More numbers
- Consolidated Gross Revenue, 2Q FY27₹ 362,268 crore
- Consolidated EBITDA, 2Q FY27₹ 62,409 crore
- PAT and share of associates/JVs, 2Q FY27₹ 29,550 crore
- Capital Expenditure, 2Q FY27₹ 38,153 crore
- Net Debt to EBITDA0.47
- Jio Platforms IPO gross proceeds₹ 30,188 crore
- Fresh issue of equity shares in Jio Platforms IPO27,00,00,000 equity shares
- Issue price per equity share₹ 1,119 per equity share
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