Reliance Industries share price rises nearly 5% as net profit up 7.3% to ₹18,540 crore, check key takeaways

In the early trade, the stock rose as much as 4.7% to ₹1,326 apiece on the National Stock Exchange (NSE). At 9:44 am, it was up 2.14% to ₹1,293.5 per share.

The market capitalisation stands at ₹17,50,412.43 crore.

India's most valuable company, Reliance Industries, on Thursday, announced a 7.3% year-on-year increase in consolidated profit after tax (PAT) to ₹18,540 crore for the December quarter of FY 2024-25, compared to ₹17,265 crore in Q3FY24, powered by a rebound in retail and telecom businesses.

Consolidated revenues from operations rose to ₹2.43 lakh crore in the October-December period of FY25 against ₹2.27 lakh crore in the year-ago quarter.

Here are the key highlights of the Reliance Industries Q3 results and segment-wise performance.

Consolidated RIL Q3 results

• Revenue from operations increased by 6.9% YoY to ₹2.43 lakh crore compared to ₹2.27 lakh crore in the same quarter of last year.
• Consolidated EBITDA increases by 7.8% YoY to ₹48,003 crore ($5.6 billion).
• EBITDA margin rises to 18% in Q3FY25 from 17.9% in Q3FY24.
• Net profit attributable to the company's owners rose 7.3% YoY to ₹18,540 crore, compared to ₹17,265 crore in Q3FY24 and 11.9% QoQ.
• Capital expenditure stood at ₹32,259 crore ($3.8 billion) in October-December FY25.

Jio Platforms Ltd

Jio Platforms Ltd, which provides telecom and internet services under the Jio brand, reported a 19.2% YoY growth in consolidated revenue to ₹38,750 crore in December quarter compared to ₹32,510 crore in the year-ago quarter.

Consolidated EBITDA rose by 18.8% to ₹16,585 crore in the Q3 of FY25 compared to ₹13,955 crore in the year-ago period. Net profit rose by 26% year on year to ₹6,861 crore in the third quarter compared to ₹5,447 crore in the year-ago period.

Reliance Jio, the country's largest telecom operator, posted a 2.4% year-on-year rise in total subscriber base to 482 million as of December 31, 2024. Net subscriber addition in Q3FY25 was 3.3 million, and monthly churn moderated to 2%.

ARPU, a key performance indicator, increased further to ₹203.3 with the sustained impact of tariff hikes and a better subscriber mix. The company says the residual impact of the tariff hike is still to play out.

Jio continues to drive 5G uptake in India, with over 170 million subscribers on the True5G network, accounting for 40% of Jio's wireless traffic.

"Jio will continue to lead the charge in technology innovation by fully embracing the power of AI to create a connected, intelligent future that is truly transformative. This will drive sustained value creation over the next many years," said Akash Ambani, Chairman of Reliance Jio Infocomm.

Retail business

Reliance Retail Ventures Limited's consolidated revenue rose by 8.8% to ₹90,333 crore in the third quarter of FY25 compared to ₹83,063 crore in the year-ago quarter.

Consolidated EBITDA increased by 9.5% to ₹6,828 crore in Q3FY25 from ₹6,041 crore in Q3FY24. The retail arm's net profit increased 10% to ₹3,458 crore in Q3FY25 from ₹3,145 crore in Q3FY24.

The growth was driven by several productivity improvement initiatives and increased customer engagement during the festive period through new product launches and promotions.

RRVL opened 779 new stores during the December quarter. Total store count at 19,102, up by 1.7%, with area under operation at 77.4 million sq. ft. The quarter recorded footfalls of over 296 million, a growth of 5% YoY.

The company focuses on scaling up Digital Commerce and New Commerce as these channels contributed to 18% of total revenue.

"Reliance Retail delivered strong performance during the quarter led by festive buying across consumption baskets. Our focus on offering a wide range of products at an attractive price-value proposition continues to draw customers to our stores and digital platforms.

"We are creating through JioMart – express deliveries, scheduled deliveries coupled with Milkbasket - subscription services, a seamless shopping experience that serves diverse customers across all categories and catchment," Isha Ambani, Executive Director, Reliance Retail Ventures Limited, said.

Oil To Chemicals (O2c) Segment

Consolidated revenue rose by 6% to ₹149,595 crore ($17.5 billion) in Q3FY25 compared to ₹141,096 crore in Q3FY24. Exports revenue dropped 9.3% to ₹67,672 crore in Q3FY25 from ₹74,617 crore in the same quarter a year ago.

Consolidated EBITDA rose by 2.4% YoY to ₹14,402 crore ($1.7 billion) compared to ₹14,065 crore in Q3FY24. EBITDA Margin dropped by 40 basis points to 9.6% in Q3FY25 from 10% in the year-ago period. RIL's feedstock flexibility, benefits of ethane cracking over naphtha and focus on yield optimisation helped offset the impact of unfavourable fuel cracks, according to the company.

"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," said Mukesh Ambani, Chairman and Managing Director, Reliance Industries Limited.

Oil and Gas (Exploration And Production) Segment

Consolidated revenue dropped by 5.2% to ₹6,370 crore in Q3FY25 compared to ₹6,719 crore in the same period of the last year. The lower revenue was mainly due to the lower volume of gas and condensate in KGD6 and the lower realisation for CBM Gas and Condensate. This was partly offset by an increase in CBM gas volumes and a marginal increase in the KGD6 gas price.

The average price realised for KGD6 gas was $9.74/MMBTU in the December quarter, compared to $9.66/MMBTU in Q3FY24. The average price realised for CBM gas was $10.58/MMBTU in Q3FY25, compared to $15.55/MMBTU in Q3FY24.

EBITDA declined 4.1% to ₹5,565 crore on a YoY basis. EBITDA Margin rose by 100 basis points to 87.4%.