RIL Q1 Results 2024-25: Reliance Industries Limited (RIL) on Friday announced its fiscal first quarter earnings. The conglomerate posted a profit drop of 5.5 per cent on-year at Rs 15,138 crore from Rs 16,011 crore posted during Q1FY24. RIL posted revenue from operations at Rs 236,217 crore, up 12 per cent as against Rs 210,831 crore during the corresponding quarter of previous fiscal year. The revenue growth was led by O2C on higher oil & product prices and the Oil & Gas segment with strong growth in volumes, the firm said, while maintaining that steady growth in consumer businesses also contributed to increase in revenue.
Earlier in April, Reliance Industries posted its fourth quarter earnings for the financial year 2023-24 with profit at Rs 18,951 crore, down 1.8 per cent YoY. It had posted revenue from operations at Rs 240,715 crore, up 11.3 per cent as against Rs 216,265 crore during the fourth quarter of FY23. The company EBITDA for the quarter stood at Rs 47,150 crore.
Akash M Ambani, Chairman of Reliance Jio Infocomm, said, “Ubiquitous, high-quality, affordable internet is the backbone of Digital India and Jio takes pride in contributing to this. Our new prepaid plans would foster industry innovation towards 5G and AI and drive sustainable growth. Jio with its superior network and new service propositions would further build its market leadership with a customer first approach.”
Reliance Jio’s Q1 revenue growth of 12.8 per cent was primarily driven by robust subscriber growth across mobility and homes.
Per the Q1 earnings report, total subscriber base reached to around 490 million including approximately 130 million 5G users. It has recorded around 33 per cent YoY increase in data traffic, wherein 5G accounts for over 31 per cent of Jio’s wireless data traffic. Meanwhile, per capita consumption increased to 30.3GB / month or more than 1GB / day. Further, it also said that JioFiber has driven the highest ever quarterly home connects for Jio with over 1.1 million net additions.
RIL’s Media business recorded quarterly revenue at Rs 3,650 crore, down 3.7 per cent as against Rs 3,790 crore during the corresponding period of last year. It posted Q1 loss at Rs 221 crore.
While IPL and general elections helped record one of the strongest quarters for the Network18 Group in terms of consumer reach and engagement, the drop in revenue, the company said, was due to IPL revenue being distributed across two quarters this year.
Reliance Industries’ Oil And Gas (Exploration And Production) Segment recorded a revenue growth of 33.4 per cent on-year to Rs 6,179 crore from Rs 4,632 crore reported during the first quarter of FY24. This, the company said, was mainly on account of higher volumes partly offset by lower price realisation from KG D6 and CBM Field. EBITDA, meanwhile, increased to Rs 5,210 crore. EBITDA margin was at 84.3 per cent for Q1FY25.
Reliance’s Oil to Chemicals(O2C) segment recorded Q1 revenue at Rs 157,133 crore, up 18.1 per cent on-year primarily on account of higher product prices tracking around 9 per cent increase in Brent crude oil prices, and higher volumes supported by strong domestic demand. The O2C segment EBITDA for Q1 was at Rs 13,093 crore, down 14.3 per cent. This, the company said, was due to lower transportation fuel cracks, particularly gasoline cracks which was down 30 per cent YoY. RIL’s O2C business includes refining, petrochemicals, and fuel retailing segments.
Isha M Ambani, Executive Director, Reliance Retail Ventures Limited, said, “Reliance Retail delivered resilient performance during the period and strengthened its position as India's foremost retailer. The steady expansion and growth of our retail business not only signifies our commitment to customer centricity but also mirrors the resilience and vitality of the Indian growth narrative. We continue to make strides in delivering better retail experiences for our customers as we embrace innovation to improve products, processes, and platforms along with integrating advanced technologies.”
Reliance Retail expanded its store network during the quarter with 331 new store openings, taking the total store count to 18,918 with area under operation at 81.3 million sqft. The quarter recorded footfall of over 296 million, up 18.9 per cent on-year. Its digital and new commerce channels contributed to 18 per cent of the total revenue, the company said.
Reliance Retail Ventures Ltd (RRVL) recorded Q1 profit at Rs 2,549 crore, up 4.6 per cent in comparison to Rs 2,436 crore during the same period last year. It posted revenue from operations at Rs 66,260 crore, up 6.6 per cent as against Rs 62,159 crore during the first quarter of FY24. Reliance Retail’s EBITDA stood at Rs 5,664 crore, up 10.5 per cent YoY, , led by increase in footfalls and expansion of store footprint, streamlining of operations driving margin improvement.
Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited, said, “The deep integration and flexibility built into our O2C business model helped mitigate the impact of a challenging operating environment. The business was impacted by lower fuel cracks with tepid global demand and ramp-up of new refineries.”
Further, talking about the oil and gas segment, he said that the segment continued its growth trajectory with higher production, offsetting lower year-on-year gas price realizations.
Further, he said, “Reliance has made significant progress on the implementation of New Energy Giga-factories. On completion, these projects will provide India a world-class, integrated green energy ecosystem which can propel the next leg of sustainable growth.”
“Retail business delivered robust financial results, as compared to last year, well supported by all consumption baskets. With fast-paced expansion of its retail footprint, Reliance Retail continues to cement its position as the preferred retailer for millions of Indians. The digital and new commerce segments are also scaling up rapidly. Reliance Retail is focused not only on providing quality products to customers, but also on enhancing overall customer experience, both during and after sales,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited.
Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited, said, “The digital services business registered an impressive financial performance year-on-year, continuing its positive growth momentum. Jio’s True 5G network, covering ~85% of India’s 5G capacity, continues to attract users, while the fixed broadband offerings are witnessing increasing consumer traction both in homes and enterprises. The attractive value proposition offered by Jio is enabling more Indians to transition to next-gen data networks. This is further accelerating the digital revolution which is reshaping communications, analytics and computing, media and entertainment and commerce in India. Jio is committed to provide the best-quality state-of-the-art network at most affordable prices globally.”
Reliance Industries posted EBITDA at Rs 42,748 crore, up 2 per cent on-year. Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited, said, “Consolidated EBITDA for the quarter improved from a year ago with strong contribution from Consumer and Upstream businesses offsetting weak O2C operating environment. Reliance’s resilient operating and financial performance in this quarter underscores the strength of its diverse portfolio of businesses. Importantly, these businesses are contributing significantly to India’s growth, providing vital energy and vibrant channels for digital and physical distribution of goods and services.”
Reliance Industries Ltd (RIL) on Friday released its fiscal first quarter numbers with profit at Rs 15,138 crore, down 5.5 per cent on-year in comparison to Rs 16,011 crore posted during Q1FY24. It posted revenue from operations at Rs 236,217 crore, up 12 per cent as against Rs 210,831 crore during the corresponding quarter of previous fiscal year.
Earlier, Reliance Industrial Infrastructure Limited (RIIL) reported its first quarter earnings for FY25 with profit at Rs 2.90 crore, up 2.8 per cent in comparison to Rs 2.82 recorded during the corresponding quarter of previous financial year. It posted a total income of Rs 18.43 crore, down 10.7 per cent as against Rs 20.63 during the same period last year, on account of lower utilisation of infrastructure assets.
Reliance Jio on Friday recorded fiscal first quarter profit at Rs 5445 crore, up 12 per cent in comparison to Rs 4863 crore. It posted revenue from operations at Rs 26,478 crore for the quarter ended June 30, 2024. Revenue during the same period last year was at Rs 24,042 crore. The company EBITDA stood at Rs 13,920 crore, up 10.7 per cent on-year as against Rs 12,578 crore during Q1FY24. EBITDA margin came in at 52.6 per cent.
RIL’s Jio Platforms had reported an EBITDA increase of 12.5 per cent on-year with higher revenue driven by sustained momentum in subscriber additions.
Reliance Retail had recorded EBITDA growth of 18.5 per cent led by business efficiencies and a 60 bps margin expansion to 8.6 per cent.
RIL’s Oil to Chemicals business posted a resilient EBITDA despite weak margin environment.
RIL’s Oil and Gas segment EBITDA increased by 47.5 per cent, led by 66.4 per cent higher gas and condensate production from KG D6 block.
Reliance Industries board had, during the announcement of Q4FY24 earnings, also recommended a dividend of Rs 10 per equity share of Rs 10 each for the financial year ended March 31, 2024.
For Q4FY24, Reliance Industries had posted profit at Rs 18,951 crore, down 1.8 per cent in comparison to Rs 19,299 crore during the fourth quarter of FY23. It had posted revenue from operations at Rs 240,715 crore, up 11.3 per cent as against Rs 216,265 crore during the corresponding quarter of FY23. The revenue growth was supported by double-digit growth in O2C and consumer business, the company had stated. Oil & gas segment revenues increased sharply by 42.0 per cent with higher volumes from KG D6 block.
The company EBITDA for the quarter stood at Rs 47,150 crore, up 14.3 per cent on-year as compared to Rs 44,678 crore during Q4FY23.
According to analysts at JM Financial, Reliance Industries is expected to post Q1 profit at Rs 15,387 crore, which will be lower than the previous year’s profit by 3.9 per cent. The revenue from operations is estimated at Rs 2,31,463 crore, down 11.5 per cent YoY. JM Financial expects EBITDA at Rs 39,369 crore, showcasing a growth of 3.3 per cent YoY.
Earlier, Reliance Industries had said, “Pursuant to Regulation 29 and other applicable provisions of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please note that meeting of the Board of Directors of the Company is scheduled to be held on Friday, July 19, 2024, inter alia, to consider and approve the standalone and consolidated unaudited financial results of the Company for the quarter ended June 30, 2024.”