Business

Reliance Industries Reports Q2 FY25 Revenue Of ₹2.58 Lakh Crore Amid Mixed Performance Across Segments

Reliance Industries Limited (RIL) announced a quarterly consolidated revenue of ₹2.58 lakh crore for Q2 FY25. The company experienced growth in several areas, while some segments faced challenges.

Revenue Growth Driven by Digital Services

The Oil to Chemicals (O2C) revenue increased due to higher volumes and more domestic product placements. Additionally, the digital services revenue rose, driven by revised telecom tariffs for mobility services and an expansion in homes and digital services. However, the Oil and Gas segment reported a 6 percent decline in revenue due to lower gas price realizations.

RIL’s EBITDA decreased by 2 percent year on year, totaling ₹43,934 crore ($5.2 billion). In contrast, Jio Platforms Limited (JPL) saw a significant EBITDA increase of 17.8 percent, attributed to a better subscriber mix and the scale-up of digital services.

Challenges in O2C and Retail Segments

Despite improvements in other areas, the O2C EBITDA fell by 23.7 percent due to a sharp decline in product margins. Fuel cracks decreased by nearly 50 percent year on year, and downstream chemicals suffered from muted global demand. Nonetheless, RIL benefited from superior ethane cracking economics due to falling ethane prices.

On a positive note, the Oil and Gas segment’s EBITDA grew by 11 percent, fueled by sustained volume growth and one-time provisioning for decommissioning costs related to the Tapti field in Q2 FY24.

Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries, expressed satisfaction with the results. He highlighted the resilience of the diversified business portfolio and noted robust growth in Digital Services and the Upstream business, which partially offset weaker contributions from the O2C sector.

Ambani emphasized the strong performance of the digital services segment, citing increased average revenue per user (ARPU) and enhanced customer engagement metrics. He mentioned the growing momentum of JioAirFiber in the home broadband segment, aiming to digitally empower every corner of India.

Ambani also underscored the retail segment’s expansion, with increasing consumer touchpoints and a focus on strengthening operations. He announced that the first of RIL’s New Energy Giga-factories is on track to start producing solar PV modules by the end of the year, contributing to the global clean energy transition.

Also Read: India’s CPI Inflation Jumps To 5.49% In September Due To Weather And High Base Effect

Ajaypal Choudhary

Recent Posts

PM Modi Meets Bhutan PM Tobgay At BIMSTEC Summit; Highlights Strong Bilateral Ties & Regional Cooperation

PM Narendra Modi met Bhutanese PM Tshering Tobgay on the sidelines of the 6th BIMSTEC…

2 hours ago

Jamia Students Back Waqf Amendment Bill; Call It A Step Toward Empowerment

The student group 'Shaher-E-Arzoo' expressed firm support for the Waqf Amendment Bill, calling it a…

5 hours ago

India’s Exports To The US Face Limited Impact From Tariff Hike: SBI Report

The 27% tariff hike by US President Donald Trump on Indian goods will have only…

5 hours ago

Waqf Freed From Mafia Control, New Era Of Development Begins For Muslims: MRM

Following the passage of the Waqf Amendment Bill 2024 in both Houses of Parliament, celebrations…

6 hours ago

India’s Forex Reserves Surge To $665.4 Billion; Rupee Strengthens As Trade Deficit Narrows

India’s forex reserves jumped $6.6 billion to a five-month high of $665.4 billion for the…

7 hours ago

Laxmi Singh Leads Gautam Buddha Nagar Police To Historic No 1 Rank In IGRS Across All Stations

Gautam Buddha Nagar Police, led by CP Laxmi Singh, achieved a historic feat with all…

8 hours ago