Reliance Industries reported a record consolidated profit of ₹29,550 crore for the second quarter of FY27, rising 33.8% year-on-year. Despite strong financials, the company is navigating public friction with Elon Musk over regulatory processes, while simultaneously deepening strategic energy partnerships with the US government.
Reliance Industries Ltd (RIL) delivered a robust performance in the second quarter of the 2027 financial year, posting a record consolidated profit of ₹29,550 crore. This 33.8% jump compared to the previous year highlights the company's operational strength, even as it manages a complex global and regulatory environment. Consolidated revenue for the quarter grew 27.8% to ₹3,62,268 crore, with EBITDA reaching a record ₹62,409 crore, signaling resilience in its core operations and a recovery in its Oil-to-Chemicals segment.
Investors are currently weighing these strong financial results against public friction with billionaire Elon Musk. Musk has publicly raised questions about RIL’s role in India’s regulatory landscape for satellite internet services, specifically citing delays for his venture, Starlink. In response, Reliance has maintained that it does not fear competition and that its own satellite projects are currently undergoing the same standard regulatory review processes as other market participants.
While the satellite debate creates headlines, US officials are focusing on the industrial value of Reliance. The recent visit of US Secretary of State Marco Rubio to the Jamnagar refinery complex highlighted Washington’s intent to deepen energy cooperation. The facility’s ability to process over 216 grades of crude makes it a critical partner for the US in managing energy supply chain stability, especially amidst ongoing geopolitical tensions in the Middle East. This diplomatic pivot suggests that Reliance’s physical infrastructure remains a core pillar of US-India economic alignment.
Despite record profits, the company faces distinct challenges that investors are tracking. The Oil-to-Chemicals (O2C) segment remains sensitive to global crude price volatility and freight costs. Furthermore, the company’s ambitious plan to invest ₹1.5 lakh crore into new energy—covering green hydrogen and battery manufacturing—carries long-term execution and market adoption risks. For shareholders, the immediate monitorables include the speed of digital service expansion, regulatory outcomes in the satellite sector, and the commissioning timeline of the new energy giga-factories.