Reliance Industries Surges 6% on Record ₹29,550 Cr Q2 Net Profit & Telecom Growth

Megacap Earnings Surprise

Shares of Reliance Industries (RIL) surged over 6% in Monday morning trade after India's largest conglomerate delivered a blowout Q2 FY27 performance, posting a consolidated net profit of ₹29,550 crore—up 33.8% compared to the corresponding period last year.

Performance Highlights Across Divisions

• Oil-to-Chemicals (O2C): Operating margins expanded by over 220 basis points on strong export diesel and jet fuel cracks.
• Jio Infocomm: Added 11.2 million net 5G subscribers with blended ARPU expanding to ₹198 per user.
• Reliance Retail: Footfalls reached all-time festive highs with 18% revenue growth across grocery and digital electronics.

Institutional Outlook

Brokerages reiterated high conviction buy ratings with upwardly revised price targets, citing free cash flow inflection as peak telecom and petrochemical capex cycles wind down.