RIL Q1 results: Jio, retail biz likely to aid profitability; key announcements to watch

Billionaire Mukesh Ambani-led Reliance Industries, the country's most valuable company, will report its June quarter earnings on Friday, July 18. Market participants will closely watch first quarter earnings of oil-to-telecom conglomerate as the stock has led the rally in benchmark NIFTY50 index by rising 18% in the first quarter as against gain of 8.5% in the NIFTY50 index.

Reliance Industries is expected to report marginal sequential growth in earnings before interest, taxes, depreciation, and amortization (EBITDA), driven by continued strength in Jio, Equirus Securities said.

Jio’s earnings is likely to be aided by average revenue per user (ARPU) and subscriber gains. Oil to chemicals business (O2C) profitability may improve slightly on better product cracks and oil & gas segment contribution is expected to remain stable, Equirus Securities noted.

For Jio, Equirus expects EBITDA to rise 19% annually aided by 14% ARPU growth and sequential subscriber additions. Retail business may deliver 15% year-on-year (YoY) EBITDA growth. In O2C business EBITDA per tonne is likely to improve 3% sequentially to $100 per million tonnes on the back of better product cracks, Equirus added.

Reliance Industries reported net profit of ₹19,407 crore for the January-March quarter (Q4FY25), marking an increase of 2.41% from ₹18,951 crore logged in the same period last year.

Its revenue from operations advanced 10% to ₹2,64,573 crore at the end of the March quarter, as against ₹2,40,715 crore reported in the year-ago period.

Operationally, Reliance Industries' operating profit, also known as earnings before interest, taxes, depreciation, and amortisation (EBITDA), rose 3.1% to ₹43,832 crore from ₹ 42,516 crore in the corresponding period last year. Its operating profit margin, also known as EBITDA margin, shrank by 110 basis points (bps) to 16.57% from 17.66%.

Reliance's Jio Platforms reported quarterly revenue ₹39,853 crore, registering annual growth of 18%. The company clocked average revenue per user (ARPU) improved to ₹206.20 from ₹203.30 due to flow through of tariff hike, the company said in a press release.

Jio's EBITDA in March quarter rose 18.5% annually to ₹17,016 crore.

Reliance Retail's March quarter revenue rose 16% annually to ₹88,620 crore and its EBITDA advanced 14% to ₹6,711 crore. The company added 1,085 new stores during the quarter.

Reliance Retail recorded gross revenue of ₹ 3,30,870 crore for the year FY25, registering a growth of 7.9% over last year, the company said.