Strong global fuel cracks amid geopolitical friction in Russia and the Middle East lifted the oil-to-chemicals segment's EBITDA to a record Rs 25,203 crore. Meanwhile, digital services arm Jio Platforms saw double-digit growth in both revenue and profit thanks to higher average revenue per user. Conversely, performance was dragged down by a 2% decline in oil and gas exploration EBITDA and reduced output from the KG-D6 block. Reliance's board also sanctioned a plan to raise up to Rs 15,000 crore via non-convertible debentures.
Key points
Global energy supply bottlenecks provided strong support to downstream refining margins d…: Global energy supply bottlenecks provided strong support to downstream refining margins despite lingering crude premiums.
Overall corporate operating margins compressed slightly to 17.2% due to elevated shipping…: Overall corporate operating margins compressed slightly to 17.2% due to elevated shipping costs and domestic fuel retailing under-recoveries.
Weaker gas realisations and lower production from the KG-D6 block weighed on the explorat…: Weaker gas realisations and lower production from the KG-D6 block weighed on the exploration division's quarterly performance.
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Revenue from operations rose 29% to Rs 3.32 lakh crore from Rs 2.58 lakh crore a year ago.
The company's board has also passed an enabling resolution authorising the issuance of non-convertible debentures of up to Rs 15,000 crore in one or more tranches, on a private placement basis.
Also Read: Jio Platforms Q2 Results: Profit rises 14% YoY to Rs 8,389 crore; revenue up 11%
"During the second quarter, 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. Against this backdrop, the domestic orientation of our portfolio, combined with operational discipline and versatility of our integrated businesses, helped Reliance navigate external volatility effectively," said Mukesh Ambani, Chairman and MD, RIL.
On a sequential basis, profit increased 27% from Rs 23,196 crore in the June quarter, while revenue rose 6% from Rs 3.11 lakh crore.
EBITDA during the quarter climbed 15% from Rs 54,067 crore. However, the consolidated EBITDA margin contracted by 60 basis points to 17.2%…
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Margin compression during the quarter stemmed from heavy digital commerce investments, absorbed cost inflation, and rising finance expenses tied to increased borrowings. A calendar shift pushing key festive events into the subsequent period, combined with higher depreciation from ongoing physical expansion, further weighed on the bottom line. Despite these near-term headwinds, operational volume remained steady as footfalls and engagement translated into positive top-line growth.