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Reliance Q2: Profit surges 16% as all three engines fire
Mint Hyderabad
|October 18, 2025
fuel and other chemicals, benfitted from a sharp growth in fuel cracks—the difference between the price of crude oil and the fuel produced from it—during the quarter.
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This was due to a fall in crude oil prices and an increase in demand for transportation fuels.
This helped improve Reliance’s gross refining margin (GRM), which is a key indicator of a refinery’s profitability. Every $1 per barrel increase in GRM will translate to a 2% increase in consolidated Ebitda and a 4% increase in net profit for Reliance Industries in 2026-27, as per JP Morgan analysts.
Revenue from the 02C business increased 3% on-year to ₹1.6 trillion in the second quarter, while Ebitda expanded 21% to ₹15,008 crore.
This story is from the October 18, 2025 edition of Mint Hyderabad.
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