Reliance Industries and Jio Platforms post Q2 results with record profit and revenue growth

what happened

According to Moody's, Reliance Industries reported a record consolidated profit after tax of Rs 29,550 crore for the July-September quarter, up 33.8% from a year earlier. Revenue rose 27.8% to Rs 3,62,268 crore, and EBITDA reached a record Rs 62,409 crore.

The oil-to-chemicals (O2C) unit led the gains, with EBITDA surging 67.9% on higher global fuel margins and stronger petrochemical spreads. The retail arm, Reliance Retail Ventures, saw its profit fall 24.3%, making it the weak spot in the group.

Jio Platforms, recently listed, reported an 11.3% rise in revenue and a 16.6% jump in EBITDA. Its subscriber base reached 542.4 million, and average revenue per user climbed to Rs 218.8 a month.

why it matters

The results set the tone for India's market, since Reliance is one of the country's largest companies and its performance feeds into major indices and investor sentiment. Monday's share moves will show how investors weigh refining gains amid supply disruptions in West Asia against the early performance of the Jio Platforms listing.

market impact

Reliance and Jio Platforms shares: strong results support the stocks, while weak retail limits gains

• ▲Reliance Industries shares pressure up — record profit and O2C growth driven by higher fuel margins
• ↔Jio Platforms shares mixed — revenue and margin growth set against a recent IPO and high valuation

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instruments