Jio Platforms Lead Digital Growth
Jio Platforms Limited (JPL) delivered robust growth during the quarter. The company recorded total revenue of ₹38,750 crore, a 19.2% YoY increase, while EBITDA rose 18.8% YoY to ₹16,585 crore. Jio’s subscriber base grew to 482 million, marking a 2.4% increase over the previous year. Average revenue per user (ARPU) climbed to ₹203.3.
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JioAirFiber reached 4.5 million subscribers, and over 170 million customers are now on Jio’s 5G network, making it the world’s largest standalone 5G operator, excluding China.
Reliance Retail’s Stellar Performance
Reliance Retail Ventures Limited (RRVL) reported an 8.8% increase in total revenue, driven by strong consumer demand during the festive and wedding seasons. The retail segment’s EBITDA grew by 9.5%, attributed to operational efficiencies and high store standards.
Oil-to-Chemicals (O2C) Sees Steady Growth
The Oil-to-Chemicals (O2C) business posted a 6% YoY revenue growth, supported by increased domestic supply and higher product volumes. Improved refining margins also contributed to the segment’s performance, although a prior-year shutdown of key units had affected volumes.
Oil And Gas Segment Faces Decline
The Oil and Gas division experienced a 5.2% revenue decline due to lower production volumes at KGD6 and reduced prices for coal bed methane (CBM) and condensate. Segment EBITDA fell by 4.1%.
Capital Expenditure And Financial Highlights
RIL’s total capital expenditure for the quarter amounted to ₹32,259 crore ($3.8 billion). Financial costs increased 6.7% YoY to ₹6,179 crore ($722 million), while tax expenses rose by 7.8% to ₹6,839 crore ($799 million).
Mukesh Ambani’s Remarks
RIL Chairman and Managing Director Mukesh Ambani expressed satisfaction with the results, stating, “Our consolidated performance reflects the resilience and strength of our diversified businesses. Jio and Reliance Retail delivered exceptional growth, while the O2C segment proved its resilience amidst global energy market volatility. We are confident that Reliance is poised for transformative growth in the coming years.”
Future Outlook
Reliance Industries is positioned for significant growth across its key business segments. Its digital and retail divisions are driving innovation and scaling rapidly, underpinning India’s economic and technological advancements. With its diversified business model and strategic investments, RIL is set to play a pivotal role in shaping India’s future growth story.