Quarterly consolidated revenue at Rs267,186 crore ($ 31.2 billion), up 7.7% y-o-y
FinTech BizNews Service
Mumbai, January 16, 2025: The Financial and Operational Performance of Reliance Industries Limited (RIL) for the Quarter and Nine Months ended 31st December 2024 have been announced today.
QUARTERLY CONSOLIDATED REVENUE AT Rs 267,186 CRORE ($ 31.2 BILLION), UP 7.7% Y-O-Y
RECORD QUARTERLY CONSOLIDATED EBITDA AT Rs 48,003 CRORE ($ 5.6 BILLION), UP 7.8% Y-O-Y
RECORD QUARTERLY CONSOLIDATED PROFIT AFTER TAX^ AT Rs 21,930 CRORE ($ 2.6 BILLION), UP 11.7% Y-O-Y
RECORD QUARTERLY PROFIT AFTER TAX^ OF JIO PLATFORMS AT Rs 6,857 CRORE, UP 25.9% Y-O-Y
QUARTERLY PROFIT AFTER TAX^ OF RELIANCE RETAIL AT Rs 3,485 CRORE, UP 10.1% Y-O-Y
Quarterly Performance (3Q FY25 vs 3Q FY24)
Gross Revenue increased by 7.7% Y-o-Y to Rs 267,186 crore ($ 31.2 billion)
o JPL revenue increased by 19.2% Y-o-Y due to continuing flow through of tariff revisions for
mobility services, and healthy growth in homes and digital services businesses.
o RRVL revenue increased by 8.8% Y-o-Y with growth across consumption baskets driven by
festive buying and wedding season.
o Oil to Chemicals (O2C) revenue improved by 6% Y-o-Y with higher volumes and increased
domestic product placement. Planned shutdown of major units during the same quarter last
year impacted volumes.
o Marginally lower KGD6 volumes and fall in price realisations for CBM and condensate led to
5.2% decline in Oil and Gas segment revenue.
EBITDA increased by 7.8% Y-o-Y to Rs 48,003 crore ($ 5.6 billion)
o JPL EBITDA increased by 18.8% Y-o-Y driven by higher subscriber base, improving ARPU
and favorable mix.
o RRVL EBITDA increased by 9.5% with improved operational efficiencies and superior store
operating metrics.
o O2C EBITDA increased by 2.4% supported by higher volumes and operational flexibility.
Efficient feedstock sourcing, higher domestic product placement and improved polymer deltas
offset weak fuel cracks.
o Oil and Gas segment EBITDA decreased by 4.1% largely on account of decline in volumes
and price realisations.
Depreciation increased by 2.2% Y-o-Y to Rs 13,181 crore ($ 1.5 billion).
Finance Costs increased by 6.7% Y-o-Y to Rs 6,179 crore ($ 722 million), primarily due to higher debt
balance. However, net debt remained largely flat.
Tax Expenses increased by 7.8% Y-o-Y to Rs 6,839 crore ($ 799 million).
Profit After Tax and Share of Profit/(Loss) of Associates & JVs increased by 11.7% Y-o-Y to Rs 21,930
crore ($ 2.6 billion).
Capital Expenditure for the quarter ended December 31, 2024, was Rs 32,259 crore ($ 3.8 billion).
Commenting on the results, Mukesh D. Ambani, Chairman and Managing Director, Reliance
Industries Limited said: “The previous month commemorated the 25th anniversary of our Jamnagar
refinery. It gives me great pleasure to see Reliance grow exponentially over the years and set new
benchmarks that demonstrate the inherent strength and resilience we have across all our businesses.
The delivery of record EBITDA and PAT at a consolidated level for this quarter is a testament to this.
Robust growth in digital services business was led by sustained subscriber addition and consistent
improvement in customer engagement metrics. This was well supported by a favorable subscriber mix,
with an increasing number of users upgrading to 5G networks. Jio’s compelling offering of home
broadband services also continued to rapidly gain ground and maintain its pre-eminent market position.
It gives me immense joy to see Jio grow and support the expanding technology capabilities of new India.
Teams at Jio continue to enhance its offerings, in line with the constantly evolving technology landscape
to bring the best-in-class digital experience to all.
Retail segment delivered a strong performance, with noteworthy contribution from all formats. The
business ably capitalized on the pick-up in consumption amid festive demand during the quarter. A
superior understanding of customer needs and preferences enables Reliance Retail to serve a wide
variety of demographic profiles with the right product, at the right time, through the right channel. With
customer-centric innovation at its core, the business constantly endeavors to enhance the shopping
experience of its customers through its vast reach and a constantly expanding product basket.
The O2C business showcased its innate resilience, registering growth even in this prolonged period of volatility in the global energy markets. Refining margins recovered sequentially, with petrochemical deltas exhibiting a mixed trend. Upstream segment continues to play a pivotal role in providing the crucial transition fuel bolstering India’s energy security.
As we stand at another iconic milestone today, we are geared up for the transformational growth that Reliance is set to experience in the near future.”
