Reliance Share Price: Record Q2 FY27 Results Put RIL in Market Spotlight

Reliance Industries shares gained in early trade on November 2 after the company reported record quarterly revenue and profit for the September quarter, supported by strong performance in its oil-to-chemicals and digital services businesses.

Reliance Industries Limited (RIL) became a major focus of the Indian stock market on November 2 after reporting a strong set of second-quarter results for FY27.

The company announced consolidated gross revenue of ₹3,62,268 crore for the quarter ended September 30, 2026, an increase of 27.8% year-on-year. Consolidated profit after tax, including the share of profit from associates and joint ventures, reached ₹29,550 crore, up 33.8% from the corresponding quarter last year.

The results helped drive a rise in the company’s share price during early trading on Monday.

Reliance Industries Q2 FY27 results

The company’s financial release reported the following consolidated figures:

The company also reported a consolidated EBITDA margin of 17.2%, compared with 17.8% in the year-ago quarter.

Oil-to-chemicals business drives performance

Reliance’s oil-to-chemicals (O2C) business recorded strong growth during the quarter.

The segment reported revenue of ₹2,31,601 crore, up 44.2% year-on-year, while EBITDA increased 67.9% to ₹25,203 crore.

The company attributed the performance to higher energy prices and improved product margins. Developments in global energy markets and refining margins remain important variables for the segment.

However, investors should remember that exceptional market conditions may not continue at the same level in subsequent quarters.

Digital services continue to grow

Reliance’s digital services business also reported growth.

Jio Platforms recorded revenue from operations of ₹40,475 crore, up 11.4% year-on-year. EBITDA increased 16.6% to ₹21,879 crore.

The company attributed growth to subscriber additions, higher average revenue per user and continued expansion in digital services.

The segment remains important to the broader Reliance investment story because it provides exposure to telecommunications and digital services alongside the company’s energy and retail businesses.

Retail business presents a mixed picture

Reliance Retail reported gross revenue of ₹91,716 crore, up 6.4% year-on-year.

However, EBITDA before a one-time impairment charge declined 8.6% to ₹6,228 crore. Profit after tax fell 24.5% to ₹2,619 crore.

This creates a more mixed picture for investors. While the overall group reported record quarterly revenue and profit, the retail segment faced pressure on profitability.

Why did the Reliance share price rise?

Market reports said Reliance shares gained more than 4% in early trade on November 2 following the results.

Investors responded to the company’s strong consolidated performance, particularly the contribution from O2C and digital services.

However, a positive market reaction does not guarantee that the share price will continue rising. Future performance may depend on refining margins, telecom growth, retail profitability, capital expenditure, debt levels and broader market conditions.

What should investors monitor next?

Investors tracking Reliance Industries should look beyond the headline profit number.

Key factors include:

Whether O2C margins remain strong.

Growth in Jio subscribers and average revenue per user.

Improvement in Reliance Retail profitability.

Capital expenditure and debt management.

Performance of the company’s new and expanding businesses.

Reliance’s latest results demonstrate the scale and diversity of its business portfolio. But investors should assess the performance of individual segments and the sustainability of earnings before making investment decisions.

This article is for informational purposes only and does not constitute a buy, sell or hold recommendation.