Reliance Industries reports 24 percent jump in revenue for first quarter

Mumbai, India – Reliance Industries Ltd. reported a 24.5% jump in consolidated revenue for the first quarter of fiscal 2027, driven by higher oil prices and growth in its digital and retail businesses, as the Indian conglomerate posted record earnings in its telecom unit.

The company posted consolidated revenue of ₹340,257 crore ($35.9 billion) for the quarter ended June 30, up from the year-ago period. Recurring consolidated EBITDA rose 10.1% to a record ₹54,067 crore ($5.7 billion), while profit after tax and share of associates climbed 6.1% to ₹23,196 crore ($2.5 billion).

Jio Platforms, Reliance’s telecom and digital services arm, delivered record quarterly EBITDA of ₹20,865 crore, up 15.1% year-over-year, with margins expanding 150 basis points to 53.3%. Revenue grew 12% to ₹45,961 crore. The unit added subscribers and reported strong data traffic growth.
Jio’s total subscriber base exceeded 533 million, including 285 million True 5G users. It added about 8.9 million net subscribers in the quarter, with ARPU rising to ₹215.6. Data traffic jumped 26.9% to 69.4 billion GB.

The company highlighted Jio Platforms’ rise in global patent rankings, climbing into the top 20 in the World Intellectual Property Organization’s Patent Cooperation Treaty list.

Reliance Retail Ventures saw revenue rise 7.4% to ₹90,408 crore, with adjusted growth of 11.6% excluding the impact of a consumer brands demerger. EBITDA slipped 1.1% to ₹6,309 crore amid investments in digital commerce. The retail arm served 396 million registered customers and recorded 568 million transactions.
In the oil-to-chemicals (O2C) segment, revenue surged 30.4% to ₹201,803 crore ($21.3 billion) on higher crude prices, while EBITDA increased 17.2% to ₹17,010 crore.

Capital expenditure for the quarter stood at ₹38,682 crore ($4.1 billion), focused on O2C, new energy projects and consumer businesses. Net debt was ₹122,914 crore.

“Reliance has made a steady start to FY27, with all businesses delivering strong operating performance,” Chairman and Managing Director Mukesh D. Ambani said in the statement. “Our diverse business portfolio has once again demonstrated its resilience in a quarter which witnessed continuing geopolitical tensions and volatile commodity markets.”