Reliance Industries Ltd (RIL) on Friday reported a 40.64 per cent year-on-year (YoY) increase in consolidated net profit to Rs 25,548 crore in the second quarter (Q2 FY27), compared with Rs 18,165 crore in the corresponding quarter last year.

Revenue from operations rose 28.57 per cent YoY to Rs 3,32,861 crore in Q2 FY27 from Rs 2,58,898 crore in Q2 FY26.

Alongside announcing its quarterly earnings, RIL said its board has approved a resolution to raise up to Rs 15,000 crore through the issuance of listed, secured or unsecured, redeemable non-convertible debentures (NCDs) on a private placement basis, in one or more tranches.

Meanwhile, newly-listed Jio Platforms Ltd reported consolidated quarterly revenue of Rs 47,485 crore, up 11.3 per cent YoY. Its quarterly EBITDA increased 16.6 per cent YoY to Rs 21,879 crore. Jio is RIL's digital services and telecommunications arm.

Jio reported double-digit revenue growth across its connectivity and digital services businesses, at 11 per cent and 16 per cent, respectively. EBITDA growth of around 17 per cent was supported by revenue growth and operating leverage, with margins improving 250 basis points YoY.

The company generated free cash flow (EBITDA less cash capital expenditure) of Rs 32,130 crore in the first half of FY27, marking a 98 per cent increase from the year-ago period.

During the quarter, Jio said it crossed two milestones, taking its 5G mobility subscriber base beyond 300 million and its fixed broadband subscriber base past 30 million. Its total subscriber base stood at 542.4 million, with trailing 12-month net additions of 36 million.

Jio's average revenue per user (ARPU) increased to Rs 218.8.

Mukesh D Ambani, Chairman and Managing Director of RIL, said Jio's listing marked a historic moment in the group's value creation journey.

"This week marked a historic moment in Reliance's value creation journey with Jio's record-setting listing on Indian bourses. With over 22x subscription, and strong listing appreciation, the issue has set multiple global benchmarks. JPL is now India’s second-largest company. It demonstrates the depth of confidence investors place in Jio's solid foundation and strong growth visibility. I am proud to witness the rejuvenation of 'the equity cult' originally pioneered by our founder-chairman during the 1977 Reliance IPO," he stated.

Jio completed its Rs 30,188-crore initial public offering (IPO) on October 28, 2026, making it the largest IPO in India to date.