RIL's revenue tops ₹10.7L crore; Jio emerges as world's largest data network in FY25: 10 key takeaways from 48th annual report

Reliance Industries, the country's most profitable company, on Thursday, August 7, unveiled its 48th annual report for financial year 2024-25.

"From energy to entertainment, from retail to digital services, we are integrating next-generation technologies across every business vertical. Over 1,000 of our in-house scientists are leading cutting-edge research in areas like AI, renewable energy, advanced materials, and digital platforms. Our manufacturing infrastructure is being future-proofed to support India’s aspiration to become a global manufacturing powerhouse," said Mukesh Ambani, Chairman and Managing Director of Reliance Industries.

Reliance Industries showcased its performance across diversified businesses—from oil and gas to digital, retail, and entertainment.

Here are 10 key insights from RIL's annual report for FY2024-25:

Reliance Industries reported a 7.1% increase in consolidated revenue to ₹10,71,174 crore ($125.3 billion) in financial year 2024-25, highlighting the strength of its diversified India-focused business model despite global volatility. EBITDA rose 2.9% to ₹1,83,422 crore, with consumer businesses contributing over 50%.

The country's most profitable company's net profit came in at ₹81,309 crore, a 2.9% year-on-year (YoY) increase. Consolidated cash profit rose to ₹1,46,917 crore, supporting continued investments in key growth areas. Reliance Retail crossed ₹3,30,000 crore in turnover and expanded its footprint to 19,340 stores, strengthening its leadership in the Indian retail industry.

Jio emerged as the world’s largest data network with 488 million users, including 191 million on 5G. In FY2024-25, Reliance built a large and distinctive media institution, in partnership with Disney, across genres, marking the beginning of a new era in India’s entertainment landscape.

The oil-to-chemicals business demonstrated resilience through disciplined cost management and strong domestic placement, and the oil & gas business delivered record EBITDA, with increased output from KG-D6 and CBM blocks, enhancing India’s energy independence, the company said.

Jio's widespread 5G rollout and strong data demand led to a 14.7% jump in EBITDA. Jio continues to lead in broadband and fixed wireless services. India’s broadband user base is expected to grow significantly from the current 47 million premises, with Jio playing a central role.

As of March 2025, Jio had 191 million 5G users on its network, contributing 45% of its wireless data traffic. Jio has connected 18 million homes at the end of FY 2024-25 and accounted for 85% of the total new additions in the industry during the fiscal year.

Jio’s AirFiber solution has been the primary reason for the acceleration in the pace of home connections, extending reach to all parts of the country, especially beyond the top 1,000 cities. Jio remains confident of connecting 100 million homes with a combination of Fibre and AirFibre broadband solutions bundled with digital TV and on-demand entertainment, RIL said.

Reliance Retail reported revenue of ₹3,30,943 crore, up 7.9% YoY, and EBITDA of ₹25,094 crore (+8.6%). With 19,340 stores and a customer base of 349 million, it remains India’s largest retailer and the only Indian company in Deloitte’s Global Powers of Retailing Top 100.

India’s retail sector has been one of the fastest-growing consumer markets in the world. Government initiatives, including tax relief and supportive economic policies, are expected to boost disposable incomes and stimulate consumption.

With strong rural demand and projected GDP growth, the retail sector is poised for sustained growth. Overall, the outlook is positive for India’s retail industry, characterised by technological progress, market expansion, greater consumer engagement, and the launch of innovative products, the Ambani-backed company said.

The merger of Viacom18 and Star India into JioStar created India’s largest media platform. Star Plus maintained 27% market share in Hindi GECs, while IPL viewership hit an all-time high of 652 million. JioHotstar saw massive viewership for events like Mahashivratri and Coldplay’s concert.

The O2C segment faced margin pressure due to weak petrochemical prices and softer fuel cracks. However, increased fuel sales through Jio-bp and feedstock flexibility helped mitigate the decline.

In FY 2024-25, the transportation fuel sector faced demand growth challenges on the back of geopolitics, energy transition, efficiency improvement, and economic concerns. Oil demand rose by 0.9 mb/d to 103.1 mb/d, while supply also increased by 1.1 mb/d to 103.3 mb/d. The Brent price averaged $78.2 per barrel amidst volatility. In CY24, refinery throughput increased by 600 kb/d to reach 82.9 mb/d, led by new refinery capacity additions and stronger non-OECD throughputs, Reliance said.

RIL invested ₹1,31,107 crore ($15.3 billion) in capex during FY25, directed towards digital infrastructure, retail expansion, new O2C projects, and building clean energy manufacturing assets. These investments were fully covered by internal cash flows.

As of March 31, 2025, RIL’s gross debt stood at ₹3,47,530 crore ($40.7 billion), while net debt was ₹1,17,083 crore ($13.7 billion), supported by strong operating cash flow and a conservative capital structure.

Natural gas production from the KG D6 block and CBM assets averaged 28.8 MMSCMD, contributing nearly 30% of India’s domestic supply. With India targeting a gas share of 15% in its energy mix by 2030, Reliance is well-positioned to lead this transition.

Reliance Industries highlighted that the company’s future-ready strategy is led by over 1,000 in-house scientists working on AI, advanced materials and renewables. Reliance is also building global-scale digital and energy platforms to support India’s manufacturing and technological ambitions.