Reliance Industries posted a 41% year‑on‑year growth in consolidated net profit after tax for the July‑September quarter of FY27, reaching ₹25,548 crore compared with ₹18,165 crore in the same period a year earlier. The increase was driven largely by the strong performance of the Oil‑to‑Chemicals (O2C) segment, which benefited from elevated crude oil prices during the September quarter. The company’s flagship oil‑to‑telecom conglomerate reported the jump on Friday, October 30, following NSE filings that detailed the figures.

Total revenue from core operations advanced 28.5% year‑on‑year to ₹3,32,861 crore in Q2 FY27, up from ₹2,58,898 crore in the corresponding quarter of the previous financial year. This rise was largely supported by the robust performance of the O2C business, which enjoys higher prices in the market. The exchange filing also highlighted that the company’s overall revenue gains were largely attributable to the strong performance in the oil‑to‑chemicals segment.

Earnings before interest, tax, depreciation and amortisation (EBITDA) or operating profit increased 24% to ₹62,409 crore in Q2 FY27, from ₹50,367 crore in the same quarter a year earlier. However, consolidated EBITDA margins contracted 60 basis points to 17.2% in the period under review, down from 17.8% a year ago. In contrast, consolidated operating margins improved 30 basis points and net profit margins rose 40 basis points during the quarter.

The Oil‑to‑Chemicals (O2C) segment recorded a 44.2% growth in revenue to ₹2,31,601 crore in the September quarter, compared with ₹1,60,558 crore a year earlier. The rise was attributed to a sharp increase in crude and product prices, with crude prices up 40.6% and transportation fuel prices up 50‑78% year‑on‑year. Prices for most downstream chemical products were up 25‑35% year‑on‑year, driven by strong feedstock prices. O2C EBITDA surged 68% year‑on‑year to ₹25,203 crore from ₹15,008 crore a year earlier.

Mukesh Ambani, Chairman and MD of Reliance Industries, said the businesses delivered strong performance despite a complex operating environment, noting that commodity markets remained volatile and geopolitical tensions weighed on global supply chains. He added that the O2C business delivered a particularly strong performance this quarter, led by tight fuel markets, improved downstream petrochemical deltas and firm domestic demand. The company’s official statement highlighted the 44.2% YoY revenue increase and the 68% YoY EBITDA rise in the O2C segment.