The conglomerate, led by billionaire Mukesh Ambani, said consolidated profit rose to 136.80 billion rupees in the quarter ended Sept. 30, from 95.67 billion rupees a year earlier.
Analysts, on average, had expected a profit of 134.65 billion rupees, according to Refinitiv data.
Revenue from the oil-to-chemicals unit, home to both its refining and petrochemicals operations, rose 58.1%, benefiting from a sharp recovery in demand across products and higher transportation fuel margin, the company said.
Reliance's telecom unit Jio reported a 24% rise in profit.
Overall revenue from operations rose 50% to 1.74 trillion rupees from a year earlier.
(Reporting by Nallur Sethuraman in Bengaluru; Editing by Arun Koyyur)