Archive · 27 Jul 2026
Reliance Industries Q1FY27: Jio IPO Key Growth Driver
Reliance Industries had a mixed performance in the first quarter of the fiscal year 2027.
The oil-to-chemicals (O2C) business did very well, with its best performance in four years.
Jio, the telecom business, added a lot of new subscribers but didn't make as much money per user as hoped.
The retail business didn't do as well as expected because it was spending more on digital commerce and lower-margin offerings.
Analysts think the future of the stock depends on the planned IPO of Jio Platforms and how well the new energy and consumer businesses do.
The stock is currently trading at a lower value compared to its earnings estimates.
Reliance Industries reported a 10.7% year-on-year growth in consolidated operating profit for Q1FY27.
The oil-to-chemicals (O2C) business had its strongest quarterly performance in four years.
Jio added 8.9 million net subscribers, bringing its total to 533.3 million.
Reliance Retail missed estimates with an 8% revenue growth and a 2% decline in operating profit.
Analysts see the Jio Platforms IPO and new energy/consumer businesses as key growth drivers.
- Who
- Reliance Industries (RIL)
- What
- Reported Q1FY27 financial performance with mixed results
- When
- June quarter (Q1FY27)
- Where
- India
- Why
- To showcase financial performance and future growth prospects
Optimistic View
Cautious View
Future Growth Prospects
Optimistic View
Analysts view the Jio Platforms IPO and execution in new energy and consumer businesses as primary catalysts for future stock performance.
Cautious View
Some analysts have reduced operating profit estimates for Jio due to modest ARPU growth and higher costs.
- Consolidated Operating Profit Growth
- 10.7% year-on-year
- O2C Revenue Growth
- 30%
- Jio Subscriber Additions
- 8.9 million
- Jio Subscriber Base
- 533.3 million
- Retail Revenue Growth
- 8%
- Retail Operating Profit Miss
- 2% year-on-year decline
- Analyst Target Price
- Rs 1,550 - Rs 1,700
- Stock Trading Multiple
- Under 20 times FY28 estimated earnings