Reliance Industries, led by Mukesh Ambani, presented impressive financial results for the second quarter of the 2026-27 fiscal year (Q2 FY27). For the period from July to September 2026, the company's profit increased by 40.64% compared to the same period last year, reaching 25,548 crore rupees. Last year, the profit for the same period was 18,165 crore rupees.
Furthermore, the digital and telecommunications company Reliance, Jio Platforms, also released its quarterly reports. Jio's revenue grew by 11.3%, amounting to 47,485 crore rupees. As part of its operations, Reliance also began preparations to raise funds of up to 15,000 crore rupees.
Reliance Industries' operating income in the second quarter increased by 28.57%, reaching 332,861 crore rupees. In the same quarter last year, this figure was 258,898 crore rupees. Thus, the income increased by 73,963 crore rupees over the year. Operating income represents the total revenue received by the company from its core, day-to-day business operations. The company reported its quarterly results to the shareholders' market on Friday, and the growth in both profit and revenue indicates business stability.
Alongside the quarterly results, Reliance announced a capital raising plan. The company's board of directors approved the proposal to raise funds of up to 15,000 crore rupees. Unsecured debt obligations (NCDs) will be issued for this purpose. Simply put, NCDs are a type of loan that a company issues to investors to raise money, paying interest according to the agreement. These debt obligations cannot be converted into shares. Reliance plans to issue these bonds through private placements in one or more tranches. These bonds can be secured or unsecured.
Reliance's digital and telecommunications arm, Jio Platforms, also showed strong growth in the second quarter. The company's consolidated revenue increased by 11.3% compared to last year, reaching 47,485 crore rupees. This is significant growth compared to the same period last year. Jio's EBITDA also grew by 16.6%, reaching 21,879 crore rupees. EBITDA is a metric used to assess a company's earnings, reflecting profit before interest, taxes, and certain other expenses, helping to understand the income and operational status of the core business.
Jio's telecom services revenue, including mobile and internet, increased by 11%. Revenue from digital services grew by 16%. According to the company, the growth in operating profit and more efficient cost management contributed to an approximate 17% increase in EBITDA. Meanwhile, the company's margin improved by 250 basis points, or 2.5 percentage points, compared to last year.
For the first half of the 2026-27 fiscal year, i.e., from April to September 2026, Jio registered a Free Cash Flow of 32,130 crore rupees. This figure is 98% higher than the same period last year. Free Cash Flow shows how much money the company has left after covering operating expenses and necessary investments. It is calculated by subtracting Capital Expenditure from EBITDA.
In the second quarter, Jio also achieved two major milestones regarding its customer base. The company's 5G mobile customer base exceeded 300 million people. Additionally, the number of customers using fixed broadband internet for home and office exceeded 3 million. The company's total subscriber base reached 54.24 crore. Over the last 12 months, 3.6 crore new customers joined Jio. Jio's Average Revenue Per User (ARPU) grew to 218.8 rupees. The growth in this indicator signifies an improvement in the company's revenue per customer.
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, called the listing of Jio Platforms on the stock market a historic achievement for the company. He noted that Jio's IPO attracted over 22 times subscription, and the shares showed significant growth during the listing. This demonstrates investor confidence in Jio's business and its future prospects. Ambani stated that Jio has become the second-largest company in India. He also emphasized that this is an important stage in the journey of increasing Reliance's value. Furthermore, he noted that Jio's listing gave new momentum to the beginning that the company's founder, Dhirubhai Ambani, started in 1977 through Reliance's IPO, connecting retail investors to the stock market. Jio Platforms' IPO worth 30,188 crore rupees was completed on October 28, 2026, becoming the largest IPO in India to date.
