Reliance Industries Q3: Revenue Hits ₹2.43 Lakh Crore, Net Profit Climbs 7.3% YoY
Reliance Industries Ltd (RIL) has reported a 7.3% year-on-year (YoY) increase in its December quarter net profit, reaching ₹18,540 crore.
This growth was attributed to strong performances across its energy, retail, and digital services segments.
The company’s revenue from operations rose to ₹2.43 lakh crore compared to ₹2.27 lakh crore in the same quarter of FY24.
Jio Platforms Drives Digital Growth
Jio Platforms reported an 11.9% YoY increase in average revenue per user (ARPU), reaching ₹203.3, supported by the tariff hike. The platform’s total user base grew by 2.4% YoY, hitting 482.1 million.
The segment’s revenue for the quarter increased by 19.4% YoY to ₹33,074 crore, while net profit grew 26% YoY to ₹6,861 crore. Its EBITDA stood at ₹16,585 crore, up 18.8% YoY, with an EBITDA margin of 50.1%, a slight contraction of 30 basis points.
The company recorded a net subscriber addition of 3.3 million in Q3 FY25, and monthly churn moderated to 2.0%.
Retail Business Sees Robust Performance
Reliance Retail demonstrated strong sequential growth, reporting a 19.6% quarter-on-quarter (QoQ) rise in net revenue to ₹79,595 crore.
The business posted a 10% YoY increase in net profit, reaching ₹3,458 crore, and a 21% QoQ growth. The company’s EBITDA rose 9.5% YoY to ₹6,828 crore, with an EBITDA margin expansion of 20 basis points to 8.6%.
The festive season significantly boosted footfalls, which increased 5% YoY to 296 million across 19,102 stores.
Retail’s strong performance was supported by productivity improvements, new product launches, and customer engagement initiatives.
Oil-to-Chemicals Segment Maintains Growth
Reliance’s oil-to-chemicals (O2C) segment revenue grew by 6% YoY to ₹149,595 crore, driven by higher production volumes and strong domestic demand.
Segment EBITDA increased 2.4% YoY to ₹14,402 crore, though the EBITDA margin contracted by 40 basis points to 9.6%.
Domestic fuel retailing volumes saw significant growth, with a 43.7% increase in MS and 22.8% in HSD.
The company prioritized transportation fuels and implemented cost-optimization measures, such as reducing freight costs, which supported its profitability.
Oil and Gas Exploration Reports Mixed Results
The oil and gas exploration segment’s revenue declined by 5.2% YoY to ₹6,370 crore due to lower production volumes of gas and condensate from KGD6.
EBITDA for the segment dropped 4.1% YoY to ₹5,565 crore, although the EBITDA margin improved by 100 basis points to 87.4%. The average production for Q3 FY25 stood at 28.04 MMSCMD of gas and 21,000 barrels per day of oil/condensate.
Global LNG market resilience and domestic demand partially offset the lower production volumes.
Consolidated Financial Performance
On a consolidated basis, Reliance Industries’ revenue from operations rose by 6.9% YoY to ₹2.43 lakh crore, compared to ₹2.27 lakh crore in the same quarter last year.
Sequentially, revenue increased by 3.5%. The net profit attributable to the company’s owners grew by 7.3% YoY to ₹18,540 crore, and consolidated EBITDA rose to ₹48,003 crore, compared to ₹44,525 crore in Q3 FY24.
The EBITDA margin expanded by 10 basis points YoY to 18% and widened by 1 percentage point sequentially.
Strategic Insights and Management Commentary
Mukesh Ambani, Chairman and Managing Director of Reliance Industries, highlighted the robust growth in digital services, driven by sustained subscriber addition and improved customer engagement metrics.
The festive period bolstered retail performance across all formats, reflecting steady consumer demand.
Jio’s aggressive 5G expansion played a pivotal role, with 170 million True5G subscribers contributing 40% of the company’s wireless traffic.
In the retail sector, digital commerce and new commerce channels contributed to 18% of total revenue, underscoring the company’s commitment to diversifying its revenue streams.
