Reliance Industries Q4 Results Highlights: RIL Q4 net profit higher, becomes first Indian company with over Rs 10 lakh crore networth; announces Rs 5.50 dividend

Mukesh D Ambani, Chairman and Managing Director, Reliance Industries, said, “During FY25, we have laid a strong foundation for our projects in renewable energy and battery operations. In the coming quarters, we will see the transition of this business from incubation to operationalization. I firmly believe that the New Energy growth engine will create significant value for Reliance, for India and for the world.”

• JioStar reported revenues of Rs 10,006 crore with EBITDA (including other income) of Rs 774 crore.

• The launch of JioHotstar on 14th February created an OTT platform in the country. Within five weeks of launch, JioHotstar crossed 100 million paid users.

• JioHotstar served 503 million MAUs in the month of Mar ‘25 driven by key sporting events such as ICC Champions Trophy, IPL and India’s largest digital content library of greater than 320K Hours.

• JioStar TV network occupied 34% market share across TV Entertainment and reached over 760 million monthly viewers across the country.

RIL’s Oil and Gas (Exploration and Production) segment Q4 revenue dropped 0.4 per cent YoY mainly on account of lower gas production and lower oil offtake from KGD6, partly offset with improved KGD6 gas price realisation and higher CBM production. The average price realized for KGD6 gas was $ 10.09/MMBTU in Q4FY25 vis-à-vis $ 9.53/MMBTU in Q4FY24. The average price realised for CBM gas was $ 10.36/MMBTU in Q4FY25 vis-à-vis $ 14.34/MMBTU in Q4FY24. EBITDA for the segment stood at Rs 5,123 crore, down 8.6 per cent YoY following higher operating cost due to onetime maintenance activity and a natural decline in KGD6 volumes.

Reliance Industries’ Oil to Chemicals (O2C) segment posts FY25 revenue growth of 11.0% YoY to Rs 626,921 crore ($73.4 billion) primarily on account of higher volumes and increased domestic product placement - Gasoline (+42%), Gasoil (+33%), ATF (+62%). Segment EBITDA for FY25 was lower at Rs 54,988 crore ($6.4 billion) due to significant weakness in transportation fuel cracks and subdued downstream chemical deltas. “Earnings were supported by higher operating rates, operational flexibility, efficient feedstock sourcing and better margin capture for domestic sales,” the company said.

Mukesh D Ambani, Chairman and Managing Director, Reliance Industries, said, “The Retail segment also delivered consistent growth. In FY25, the business focused on a strategic recalibration of our store network, aimed at improving operational efficiencies and long-term sustainability. Our enhanced product catalogue and user experience across all formats, strengthened customer engagement. The quick hyperlocal deliveries initiative has also gained significant traction in the market, connecting strongly with the users. Our suite of omni-channel offerings and wide-spread presence will enable Reliance Retail to continue delivering superior value to all its customers.”

The retail business continued to grow its store footprint, opening 2,659 stores during the year. However, with store rationalisation, total store count was at 19,340 with a total area of 77.4 million sqft. JioMart scaled up its quick hyper local deliveries benefiting from its wide store network presence.

Reliance Retail maintained that the quick hyper local exit daily gross orders in Q4FY25 grew 2.4x QoQ. Consumer Brands became the fastest growing FMCG company in India and achieved around Rs 11,450 crore sales in its 2nd year of operations. The registered customer base stood at 349 million, up 14.8 per cent YoY. Total transactions recorded were at 1.39 billion, up 10.6 per cent YoY.

Mukesh D Ambani, Chairman and Managing Director, Reliance Industries, said, “Our Digital Services business achieved record revenue and profit numbers. Steady increase in subscriber base, with an improving mix and increasing user engagement metrics boosted earnings. Strong adoption of our 5G services and our home broadband offerings continues with accelerated addition in subscribers and in the number of home-connects. Jio continues to invest in innovation, focusing on AI capabilities and next generation technologies, which will shape India’s digital future.”

Reliance Jio posted Q4 revenue at Rs 39,853 crore, up 17.8 per cent YoY. The business vertical reported Q4 EBITDA at Rs 17,016 crore, up 18.5 per cent YoY. Jio recorded a total subscriber base of over 488 million as of Mar ’25, including 191 million true 5G subscribers. ARPU, meanwhile, increased further to Rs 206.2 with continued impact of the tariff hike and better subscriber mix partly impacted by lower number of days in the quarter. Jio said that monthly churn was 1.8 per cent, the lowest in the industry. Net subscriber addition was 6.1 million during the quarter. New additions were driven by the rebound of mobility additions post tariff hike and the steady ramp-up of connected home.

RIL announced that capital expenditure for the year ended March 31, 2025, was Rs 131,107 crore ($ 15.3 billion).

Reliance Industries announced that the company board has approved raising of funds through issuance of listed, secured / unsecured, redeemable non-convertible debentures up to Rs. 25,000 crore, in one or more tranches, on private placement basis.

The company board has recommended a dividend of Rs. 5.50 per equity share of Rs. 10/- each for the financial year ended March 31, 2025. In a regulatory filing, RIL said, "We shall inform you in due course the date on which the Company will hold its Annual General Meeting for the financial year ended March 31, 2025 and the date from which dividend, if approved by the shareholders, will be paid."

According to Goldman Sachs, Reliance Retail is expected to post Q4 sales growth (ex-connectivity) of 6.5 per cent YoY. “We note that Q4FY25 sales growth is likely to have a slight drag for all companies because the quarter has one fewer day than Q4FY24. The improving sales growth trend for Reliance Retail is driven by (1) re-structuring of Grocery business largely behind (B2B business rationalization and streamlining of store portfolio through closures of low-profitability stores), and (2) focus in Fashion business on trendier designs and better value proposition (launch of new fast fashion formats like Yousta).” The brokerage firm forecasted a slight improvement in margins sequentially.

Reliance Jio is expected to continue benefitting from the July 2024 tariff hikes in Q4, analysts said. The telecom major is likely to add around four million subscribers. According to the average of estimates from five brokerages as calculated by Financial Express, Jio’s subscriber base is expected to come in at 488 million at the end of the March 2025 quarter, and ARPU at Rs 204.76. Its Q3FY25 subscriber base was 482 million, and ARPU was Rs 203.

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Shares of Reliance Industries were down 0.12 per cent at 5:45 pm at a trading price of Rs 1,300.05.