Reliance Industries Q2 profit jumps 34% to ₹29,550 crore

Reliance Industries Limited (NSE: RELIANCE) reported Q2 FY27 net profit of ₹29,550 crore, up 34% YoY. Revenue increased 29% to over ₹3.3 lakh crore, supported by strong performance in its Oil-to-Chemicals (O2C) business and Jio digital services. Key Highlights • Net profit increased 34% YoY to ₹29,550 crore. • Revenue grew 29% to over ₹3.3 lakh crore. • EBITDA increased 26% to ₹61,224 crore. • O2C operations contributed to stronger earnings. • Jio's digital services business continued to support overall growth. • Total expenses increased 28% YoY to approximately ₹3 lakh crore. My View Reliance delivered a strong quarterly performance, with profit growth outpacing revenue growth. The most encouraging factor is the contribution from both its traditional energy-related businesses and digital services. This diversification provides multiple sources of earnings growth. However, the 28% increase in expenses deserves attention. Sustaining profitability will require effective cost management, particularly in its capital-intensive businesses. I believe Reliance's ability to balance its energy business with its expanding digital and consumer businesses will remain central to its long-term growth story. What I'm Watching Next I will monitor O2C margins, Jio's subscriber and ARPU growth, and the contribution of retail operations to consolidated earnings. Sustained EBITDA growth across business segments will be important for maintaining earnings momentum. Stance: Positive on earnings growth and business diversification, but cost trends and segment-wise profitability need close monitoring. Disclosure: I do not have any holding or position in the stock mentioned above.