Reliance Q2 Results 2026: Key Facts for UPSC

Reliance Q2 results 2026 recorded higher revenue and profit, led by oil-to-chemicals and digital services. The figures offer a case study for economy current affairs.

Quick answer: Reliance Q2 results 2026 cover the quarter ending September 2026. Reliance Industries reported consolidated gross revenue of ₹3,62,268 crore, up 27.8% year-on-year, and profit after tax of ₹29,550 crore, up 33.8%. Oil-to-chemicals and digital services supported growth, although the consolidated operating margin declined.

Reliance Q2 results 2026: Key findings

Reliance Industries Limited (RIL) reported record quarterly consolidated revenue and operating earnings. The table compares the September quarter of financial year 2026–27 with the same quarter a year earlier.

EBITDA means earnings before interest, tax, depreciation and amortisation. The profit figure includes the share of profit from associates and joint ventures.

Which businesses drove the results?

Oil-to-Chemicals (O2C) and Digital Services were key drivers of growth. However, the retail business recorded lower EBITDA despite higher gross revenue.

• O2C: EBITDA rose 67.9% to ₹25,203 crore, supported by stronger transportation fuel cracks and petrochemical margins.
• Digital Services: EBITDA increased 17.7% to ₹22,223 crore, aided by subscriber additions and higher average revenue per user.
• Reliance Retail: Gross revenue rose 6.4% to ₹91,716 crore; however, EBITDA fell 8.6% amid digital-commerce investment and cost pressures.

For energy-sector context, see CBL’s coverage of diesel exports and India’s oil imports.

How did Jio Platforms perform?

Jio Platforms Limited reported net profit of ₹8,387 crore, up 13.7% from a year earlier. Its revenue from operations also rose 11.4% to ₹40,475 crore.

At September-end, it had 542.4 million customers, including over 300 million fifth-generation mobile network subscribers. Meanwhile, monthly average revenue per user (ARPU) rose to ₹218.8 from ₹211.4.

Jio Platforms’ EBITDA margin increased to 54.1% from 51.6%. In contrast, RIL’s consolidated EBITDA margin declined, so the two measures should not be confused.

Why do these results matter for UPSC?

The results illustrate how revenue, profit and margins can move differently across businesses. For example, higher consolidated EBITDA did not prevent a lower consolidated EBITDA margin.

The Reliance Q2 results 2026 also distinguish year-on-year from sequential growth. Sequentially, consolidated revenue rose from ₹3,40,257 crore in the June 2026 quarter.

Source: Indian Express Business, 2 November 2026

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