Reliance Industries posts 40% profit jump on refining strength

Reliance Industries reported a sharp 40.6% year-on-year increase in net profit for the second quarter of fiscal 2026-27, buoyed by improved refining operations and expansion in its digital services division. The Mumbai-headquartered energy and technology giant posted net profit of ₹25,548 crore, significantly outpacing performance from the same period last year.

Total revenue for the quarter reached ₹3.38 lakh crore, marking a 28% increase and representing the highest quarterly revenue in the company's history. The improvement reflected stronger operational performance across the company's core refining business, which benefited from favourable margins in the global petroleum market during the quarter.

The digital business segment emerged as another growth driver for the conglomerate, contributing meaningfully to the overall profit expansion. The segment, which includes Jio's telecommunications and digital services operations, continued to demonstrate resilience and expansion potential in India's growing digital economy.

The results underscore Reliance's diversified business portfolio, with traditional energy operations complemented by growth in telecommunications, retail, and digital services. The company's ability to leverage strength in refining margins while growing its digital footprint has positioned it favourably amid evolving market dynamics in Asia's largest economy.