Reliance Q2 Results: RIL Profits Jump 34% to ₹29,550 Cr

Reliance Industries Limited (RIL) delivered a stellar Q2 FY27 performance during its earnings call. Consolidating its market dominance, the conglomerate posted an all-time high revenue of ₹3.62 lakh crore, marking a 27.8% YoY growth. Consolidated EBITDA surged 23.9% YoY to ₹62,409 crore, while net profit jumped 33.8% to ₹29,550 crore. Core Growth Drivers • O2C Powerhouse: The Oil-to-Chemicals division was the quarter's star. EBITDA skyrocketed 67.9% YoY to a record ₹25,203 crore. High refining margins and strategic crude sourcing from Europe and Latin America mitigated geopolitical headwinds in the Middle East. • Jio Post-IPO Surge: Fresh off its blockbuster IPO, Jio Platforms reported an 11.3% revenue jump to ₹47,485 crore. Total subscribers hit 542.4 million, with 5G users crossing 300 million. Strong data usage pulled ARPU up to ₹218.8. • Debt Reduction: Net debt fell to ₹117,140 crore, down from ₹122,914 crore in the previous quarter. The net debt-to-EBITDA ratio improved to a comfortable 0.47x. Pockets of Pressure • Retail Margin Drag: Reliance Retail revenues grew 6.4%, but PAT dropped 24.3% YoY to ₹2,611 crore. Management stated this compression stems from intentional, aggressive capital deployment to scale digital commerce infrastructure. • Rising Fixed Costs: Finance costs grew 24% to ₹8,481 crore as 5G network rollouts and spectrum assets were capitalized onto the balance sheet. Looking Ahead Reliance is partnering with Google to build a gigawatt-scale AI Cloud Data Center in Jamnagar, run entirely on green energy. The company is also creating a localized AI software ecosystem to capture vernacular consumer markets. StockGro Verdict Strong Bullish Bias. Short-term retail margin pressures are heavily offset by a roaring O2C engine and Jio's unmatched digital scale, keeping RIL's structural growth story intact.