According to latest reports, Reliance Industries Ltd (RIL) delivered exceptional Q2 FY27 results with consolidated net profit surging 41% YoY to ₹25,548 crore, compared with ₹18,165 crore in the corresponding period last year. The company achieved revenue from operations of ₹3.32 lakh crore, up 29% YoY from ₹2.58 lakh crore, while sequential profit increased 27% from ₹23,196 crore in the June quarter. Jio Platforms Ltd (JPL) also posted strong results with consolidated revenue growing 11.3% YoY to ₹47,485 crore and net profit increasing 16.6% YoY to ₹8,387 crore, while margins expanded 250 bps to 54.10%. The company's customer base reached 54.24 crore, up 7.1% year-on-year, including 3 crore fixed broadband subscribers and 30 crore 5G mobility subscribers.
As reported by latest data, JPL successfully completed its ₹30,188 crore IPO launch, marking the largest IPO in India till date and a completely fresh issue with net proceeds going directly into the company's balance sheet. The stock recorded a 27.9% rally in the last three sessions since listing, ending at ₹1,431.3 on October 30 against an issue price of ₹1,119. The company's EBITDA grew 16.6% YoY led by revenue growth and operating leverage, with double-digit growth across connectivity (11%) and digital services (16%). During the quarter, JPL crossed twin milestones of 3 crore fixed broadband and 30 crore 5G mobility subscribers, with Average Revenue Per User (ARPU) climbing to ₹218.8 and net debt decreasing to ₹8,800 crore. The results marked JPL's first quarterly earnings announcement after its blockbuster stock market listing on October 28.
According to latest reports, the Oil-to-Chemicals segment delivered exceptional performance with EBITDA surging 67.9% YoY to ₹25,203 crore, supported by fuel cracks up 3-3.7 times YoY and polyester chain margins reaching a 3-year high. The segment benefited from global refining margins strengthening sharply amid supply disruptions in the Middle East and Russia, with diesel refining cracks rising 252% YoY to $65.8 per barrel, jet fuel cracks increasing 268% to $59.3 per barrel, and gasoline cracks nearly tripling to $24.9 per barrel. The segment's EBITDA margin expanded to 10.9% from 9.3% year earlier, while refinery throughput recovered to 20.6 million tonnes from 18.1 million tonnes in the June quarter. At the operating level, EBITDA margin expanded 160 bps to 10.9% in Q2FY27, with petrochemical profitability improving as polyester chain margins rose 33% to their highest levels in three years.
According to latest reports, RIL's board has passed an enabling resolution authorising the issuance of non-convertible debentures of up to ₹15,000 crore in one or more tranches, on a private placement basis. As per Mint, RIL shares have a strong base formation at ₹1,145 and are targeting ₹1,265, while JPL shares are recommended to be held with a stop-loss below ₹1,410. Mukesh Ambani, Chairman and MD, RIL, noted that "During the second quarter, our businesses delivered a strong performance despite a complex operating environment. Commodity markets remained volatile while geopolitical tensions continued to weigh on global supply chains. Against this backdrop, the domestic orientation of our portfolio, combined with operational discipline and versatility of our integrated businesses, helped Reliance navigate external volatility effectively."
