RIL Q1 FY27 Results: Revenue Climbs 24.5% To Record High As Jio And O2C Lead Growth

RIL Q1 FY27 Results: Reliance Industries Ltd (RIL) opened FY27 on a strong note. Growth came from its digital services, oil-to-chemicals (O2C) and retail businesses. Higher crude prices added support, while telecom subscribers kept rising and consumer demand remained steady. Together, these factors helped the company post record quarterly revenue. Profit also moved higher, even with increased finance and depreciation costs. RIL continued to spend heavily on expansion projects. Even so, its leverage stayed comfortable, reflecting its focus on long-term growth.

Jio And O2C Powered Earnings Growth

The digital services business remained one of the strongest contributors during the quarter. Jio Platforms reported double-digit revenue and EBITDA growth as subscriber additions, higher average revenue per user (ARPU) and expansion in cloud, enterprise and digital services lifted earnings. Its subscriber base crossed 533 million, including 285 million 5G users, while data traffic continued to expand at a healthy pace.

A stronger quarter came from the O2C business. Revenue rose 30.4% year on year, supported by higher crude oil prices and improved transportation fuel margins. Operations faced pressure from planned maintenance, higher freight costs and rising feedstock prices. That did not stop EBITDA from growing 17.2%, backed by stronger refining margins and better downstream chemicals performance.

Retail operations also remained steady. Revenue increased 7.4% year on year. The customer base grew to 396 million, while quarterly transactions jumped 46%. Extra investment in digital infrastructure, however, caused a modest decline in EBITDA margin.

Expansion Plans And Strategic Focus

Reliance invested ₹38,682 crore during the quarter across its O2C, new energy, telecom and consumer businesses.

Key developments included:

• Jio took a major step towards a public listing by filing its draft IPO papers with SEBI.

• Investment in new energy manufacturing projects continued.

• Digital and consumer infrastructure expanded across India.

• Moody's upgraded Reliance's foreign currency debt rating to Baa1, reflecting stronger financial metrics.

Outlook Remains Positive Despite Global Risks

Geopolitical tensions and volatile commodity prices are still expected to shape the rest of FY27, management said. Crude prices worked both ways. They supported revenue but also raised sourcing costs across businesses. Higher liabilities and continued spending on 5G pushed finance costs up by 18.5%. That has added pressure. Reliance, however, is looking to phased commissioning of new energy projects, further growth in digital services, and the proposed Jio IPO to drive long-term value creation.

Also Read - JSW Q1FY27 Results