Reliance Industries Q4 Profit Beats Estimates as Digital and Retail Drive Growth Amid Energy Slowdown

Mukesh Ambani-led Reliance Industries Limited (RIL), India’s largest company by market capitalization, has announced its financial results for the January-March quarter of FY25. The company declared a dividend of ₹5.5 per equity share and reported major milestones across its businesses.

Jio’s Private 5G Network Successfully Deployed

Executives revealed that Jio has deployed its private 5G network, promising secure, low-latency, and high-bandwidth connectivity through its 5G SA architecture.

“The private 5G infrastructure is powered by an ultra-reliable, low-latency network architecture comprising both macro and small cell 5G radios, alongside a dedicated private 5G core,” RIL stated.

To meet varying enterprise demands, Jio utilizes advanced network slicing technology, allocating a dedicated slice for private 5G users and a separate slice for general users.

Jio also offers end-to-end managed services to support operations, with key use cases including robotic automation, real-time surveillance, and mission-critical security.

Oil and Gas Business Reports Record EBITDA

Sanjay Roy, executive vice-president for exploration and production at RIL, commented on the performance of the oil and gas segment. “Oil and gas business reported highest annual EBITDA.

In Q4, KG-D6 production declined, as the company expected. In the period, the company conducted planned maintenance activities,” Roy said.

Despite a subdued global gas demand, with prices fluctuating between $10 and $14 per mmtpa, RIL anticipates stable gas prices for the Indian market, albeit with some volatility.

A New Milestone: Net Worth Surpasses ₹10 Lakh Crore

Reliance Industries has achieved another historic feat. After being the first Indian company to cross ₹10 lakh crore in annual revenue and ₹20 lakh crore in market capitalization, RIL has now surpassed ₹10 lakh crore in net worth as well.

JioHome and AirFiber Growth Continues

Jio’s broadband services have expanded impressively. “JioHome subscribers crossed 18 million, adding 1.5 million in the quarter, AirFiber subscribers crossed 5.6 million.

90% of industry net additions are being done by Jio, which is 5x higher than the nearest competitor in the trailing 6 months,” said RIL executives.

Jio’s innovative point-to-multipoint wireless solution for fixed broadband has reduced deployment costs and accelerated growth. Additionally, Jio led 5G performance with a median download speed of 202 Mbps at Mahakumbh.

The company also reported a strong rise in digital revenue, driven by cloud services, IoT, content bundling, and advertising.

Retail Arm Posts Strong Growth

Reliance Retail posted a 29 percent year-on-year increase in net profit for the January–March quarter, rising to ₹3,545 crore from ₹2,746 crore a year earlier.

The retail segment’s expansion through new store formats and network growth contributed significantly. Overall revenue for the quarter rose 10.5 percent year-on-year to ₹2,61,388 crore.

For the full financial year FY25, RIL reported record consolidated revenue of ₹9,64,693 crore, a 7.1 percent rise from the previous year, while consolidated net profit stood largely flat at ₹69,648 crore.

Steady Telecom and Digital Business Momentum

Jio Platforms Ltd (JPL) posted a 25.8 percent year-on-year rise in net profit at ₹7,023 crore for Q4FY25, supported by tariff hikes and subscriber growth.

Average revenue per user (Arpu) improved to ₹206.2 per month, marking a 13.4 percent year-on-year increase.

Mukesh Ambani highlighted the strong performance of Jio’s digital services. “Strong adoption of our 5G services and our home broadband offerings continues with accelerated addition in subscribers and in the number of home-connects,” he said.

Resilient Oil-to-Chemicals (O2C) Business

RIL’s oil-to-chemicals segment reported a 15.4 percent year-on-year rise in revenue at ₹1,64,613 crore, though EBITDA dropped 10 percent to ₹15,080 crore.

Ambani noted that despite volatility in global energy markets and downstream chemical margin pressures, the O2C business ensured operational efficiency to maximize margins.

Investment in Future Growth Areas

During FY25, Reliance laid the foundation for its renewable energy and battery operations. “In the coming quarters, we will see the transition of this business from incubation to operationalisation,” Ambani added.

Net debt stood at ₹1,17,083 crore as of March 2025, remaining stable year-on-year. Capital expenditure for the quarter was ₹36,041 crore, with finance costs rising slightly by 6.8 percent.