Reliance Industries Q2 FY27 Results: Consolidated Net Profit ₹29,550 Crore on Total Income of ₹3,38,654 Crore
Earnings
Diversified conglomerate
Blacklitt Research4 min read
Reliance Industries (NSE: RELIANCE) reported consolidated total income of ₹3,38,654 crore and consolidated net profit of ₹29,550 crore for the quarter ended 30 Sep 2026, and standalone total income of ₹1,78,567 crore and standalone net profit of ₹15,354 crore, it said in a filing on 30 Oct 2026.
Key highlights
Consolidated
Including its subsidiaries
Total income: ₹3,38,654 crore, up 28.6% YoY and 6.4% QoQ
Net profit: ₹29,550 crore, up 33.8% YoY and 27.4% QoQ
EPS: ₹18.88 basic, against ₹13.42 a year earlier
Finance costs: ₹8,481 crore, up 24.2% YoY
Standalone
The company on its own, without its subsidiaries
Total income: ₹1,78,567 crore, up 33.2% YoY and 5.0% QoQ
Net profit: ₹15,354 crore, up 68.2% YoY and 15.7% QoQ
EPS: ₹11.34 basic, against ₹6.75 a year earlier
Tax expense: ₹4,985 crore, up 102.4% YoY
Summary
Consolidated ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
3,38,654.00
2,63,380.00
+28.6%
3,18,400.00
+6.4%
Revenue from operations
3,32,861.00
2,58,898.00
+28.6%
3,11,850.00
+6.7%
Other income
5,793.00
4,482.00
+29.3%
6,550.00
-11.6%
29,550.00
22,092.00
+33.8%
23,196.00
+27.4%
Finance costs
8,481.00
6,827.00
+24.2%
8,337.00
+1.7%
Depreciation
15,315.00
14,416.00
+6.2%
15,100.00
+1.4%
Tax expense
9,363.00
6,978.00
+34.2%
7,629.00
+22.7%
Net profit margin
8.73%
8.39%
+0.34 pp
7.29%
+1.44 pp
Tax as share of profit before tax
24.2%
24.0%
+0.29 pp
24.9%
-0.66 pp
EPS, basic (₹)
18.88
13.42
+40.7%
15.48
+22.0%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Consolidated net profit grew faster than total income. Net profit rose 33.8% year on year to ₹29,550 crore while total income rose 28.6%, and the gap is also visible quarter on quarter, where profit rose 27.4% against 6.4% for income.
Other income is a small part of the quarter's income. At ₹5,793 crore it is 1.7% of total income, and it fell 11.6% from the previous quarter's ₹6,550 crore. Finance costs of ₹8,481 crore are 2.5% of total income. The filing does not explain the changes in finance costs or depreciation between the quarters shown.
Tax took 24.2% of profit before tax of ₹38,613 crore, close to the 24.0% of a year earlier. Profit before tax less tax comes to ₹29,250 crore, which is ₹300 crore below the reported net profit of ₹29,550 crore; the gap is the share of associates and joint ventures of ₹300 crore shown in the statement. Profit attributable to owners of the company was ₹25,548 crore, against ₹18,165 crore a year earlier.
Standalone ₹ crore
Particulars
Q2 FY27
Q2 FY26
YoY
Q1 FY27
QoQ
1,78,567.00
1,34,055.00
+33.2%
1,70,121.00
+5.0%
Revenue from operations
1,74,668.00
1,30,610.00
+33.7%
1,66,013.00
+5.2%
Other income
3,899.00
3,445.00
+13.2%
4,108.00
-5.1%
15,354.00
9,129.00
+68.2%
13,272.00
+15.7%
Finance costs
1,953.00
1,770.00
+10.3%
1,838.00
+6.3%
Depreciation
3,994.00
4,472.00
-10.7%
4,196.00
-4.8%
Tax expense
4,985.00
2,463.00
+102.4%
4,328.00
+15.2%
Net profit margin
8.60%
6.81%
+1.79 pp
7.80%
+0.80 pp
Tax as share of profit before tax
24.5%
21.2%
+3.26 pp
24.6%
-0.08 pp
EPS, basic (₹)
11.34
6.75
+68.0%
9.81
+15.6%
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone net profit rose 68.2% year on year to ₹15,354 crore, faster than standalone total income, which rose 33.2%. Against the year-earlier quarter, standalone depreciation fell 10.7% to ₹3,994 crore, while revenue from operations rose 33.7%.
Other income was ₹3,899 crore, 2.2% of total income and 19.2% of profit before tax of ₹20,339 crore. Standalone tax expense rose 102.4% to ₹4,985 crore and was 24.5% of profit before tax, up from 21.2% a year earlier. Standalone net profit grew more slowly than profit before tax, which rose 75.5%.
The standalone statement does not show a profit attributable to owners, so the net profit figure is the only profit line reported for the company itself.
Consolidated net profit of ₹29,550 crore is ₹14,196 crore higher than standalone net profit of ₹15,354 crore. Consolidated total income is ₹1,60,087 crore higher than standalone total income.
Consolidated net profit grew 33.8% year on year, slower than standalone net profit at 68.2%. The filing does not state the reasons for that difference.
Inference
The filing says the board passed an enabling resolution to issue listed, secured or unsecured, redeemable non-convertible debentures up to ₹15,000 crore in one or more tranches on private placement basis. During the quarter the group issued ₹12,000 crore of unsecured NCDs (PPD Series Q). Total NCDs outstanding are ₹39,389 crore, of which ₹20,000 crore are secured by first charge on certain movable properties with security cover of more than 1.25 times.
The filing says the equity shares of Jio Platforms Limited were listed on NSE and SSE Limited from 28 Oct 2026 after an IPO of 27,00,00,000 fresh shares at ₹1,119 each. Gross proceeds were ₹30,188 crore, and ₹27,500 crore of the net proceeds has been used to prepay certain external commercial borrowings of Reliance Jio Infocomm Limited. The listing took effect after the quarter end, so the filing does not show its effect on the quarter's results. The filing does not say how the remaining proceeds will be used or when.
Consolidated net worth stood at ₹9,06,204 crore and standalone net worth at ₹5,53,853 crore as at 30 Sep 2026.
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RELIANCEReliance Industries Ltd.