RIL shares surge 8% after robust Q2, m-cap crosses ₹17 lakh crore; Jio Platforms gains 3%
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Shares of Reliance Industries (RIL) surged over 8% in Monday's trading session after the Mukesh Ambani-led conglomerate reported a record performance for the September quarter, taking its market capitalisation past the ₹17 lakh crore mark. Shares of recently listed Jio Platforms also gained post Q2 results, rising as much as 3.14% to hit an intraday high of ₹1,476.15, valuing the company at around ₹13.3 lakh crore.
RIL shares rallied as much as 8.2% to hit an intraday high of ₹1,259 on the BSE, their biggest single-session gain since March 25, 2020, when the stock had surged around 15% amid a global market rebound. At the time of reporting, the country’s most valued stock was trading at ₹1,254.30, up 7.8% from the previous close of ₹1,163.55. The company's market capitalisation stood at ₹16.97 lakh crore at that time.
In a similar trend, Jio Platforms shares touched a high of ₹1,476.15, gaining 3.14% over the previous close of ₹1,431.20. The second most valued stock was trading at ₹1,443, up 0.82%, with a market capitalisation of ₹13.29 lakh crore.
The rally in RIL shares followed a strong September-quarter performance, with the company reporting a 33.8% year-on-year (YoY) increase in consolidated profit after tax (PAT) to ₹29,550 crore. Its first-half FY27 PAT crossed the ₹50,000-crore milestone to reach a record ₹52,746 crore.
Consolidated gross revenue rose 27.8% YoY to ₹3,62,268 crore, while EBITDA increased 23.9% to a record ₹62,409 crore. The company said its performance was driven by a strong recovery in the oil-to-chemicals (O2C) business and continued growth in digital services. Reliance Retail reported steady revenue growth, although its earnings were affected by investments and a shift in the festive calendar.
“During 2Q FY27, our businesses delivered a strong performance despite a complex operating environment. Commodity markets remained volatile while geopolitical tensions continued to weigh on global supply chains,” said Mukesh D. Ambani, Chairman and Managing Director of RIL.
He said the O2C business delivered a particularly strong performance, supported by tight fuel markets, improved downstream petrochemical deltas and firm domestic demand.
Jio Platforms reports 13.7% rise in Q2 profit
Jio Platforms, which recently completed India's largest IPO of ₹30,213 crore, reported a 13.7% YoY increase in consolidated net profit to ₹8,387 crore for the September quarter, compared with ₹7,375 crore a year ago.
Consolidated revenue from operations rose 11.4% to ₹40,475 crore from ₹36,332 crore in the corresponding quarter last year. EBITDA increased 16.6% to ₹21,879 crore, while EBITDA margin expanded 250 basis points to 54.1% from 51.6%.
The company reported free cash flow of ₹32,130 crore in the first half of FY27, calculated as EBITDA less cash capital expenditure, marking a 98% increase year-on-year.
Jio's average revenue per user (ARPU) rose to ₹218.8 during the quarter. The company said promotional schemes for fixed broadband customers partly offset the benefits of a better subscriber mix and increased usage.