Reliance Industries Achieves Record Quarterly Profit in Q3: Top 10 Highlights You Need to Know

Reliance Industries’ strong digital and retail performance in Q3FY25 led to a double-digit increase in profits.

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Reliance Industries Achieves Record Quarterly Profit in Q3: Top 10 Highlights You Need to Know Reliance Industries Achieves Record Quarterly Profit in Q3 Operational Highlights:1. Jio Platforms Strategic Advancement:2. Retail Reliance 3. O2C (oil-to-chemicals)4. Gas and Oil 5. Balance sheet 6. Investment in Capital

Strong development in digital services and retail industries helped Reliance Industries, a leader in telecom, retail, and oil, report record quarterly profits and EBITDA for the quarter ending December 2024 (Q3FY25).

Reliance Industries Achieves Record Quarterly Profit in Q3

“Our digital services business has experienced strong growth due to consistent customer additions and improved engagement metrics,” stated Chairman Mukesh Ambani. He also highlighted the retail industry’s impressive performance and its significant contributions across all formats.

On January 16, 2025, Reliance’s stock finished at ₹1,266.45, up 4.2%.

Operational Highlights:

EBITDA Performance: Reliance reported a consolidated EBITDA of ₹48,003 crore for the third quarter of FY25, which increased 7.8% year over year (YoY) and achieved a margin of almost 19%. Two significant causes were the growth of Jio Platforms and an approximate 10% increase in Reliance Retail’s EBITDA.

EBITDA Margin: Margins rose 10 basis points to 18%.

1. Jio Platforms

Jio Platforms’ Q3FY25 profit increased by 26% year over year to ₹6,861 crore. Mobility service rate revisions and robust growth in residential and digital services drove a 19.2% YoY increase in revenue to ₹38,750 crore.

Subscriber Growth: The user base grew from 470.9 million in Q3FY24 to 482.1 million in Q3FY25, with net subscriber additions of 3.3 million. Churn decreased to 2.0% each month.

EBITDA Growth: With a 50.1% margin, EBITDA expanded 18.8% YoY to ₹16,585 crore, driven by stronger customer mix, a larger user base, and higher ARPU (Average Revenue Per User).

ARPU: From ₹181.7 in Q3FY24 and ₹195.1 in Q2FY25, ARPU increased to ₹203.3 per user per month. Reliance stated that additional effects from pricing increases have not yet been felt.

Strategic Advancement:

@ Currently, 40% of Jio’s wireless traffic comes from its True5G network, which has over 170 million users.

@ The top 1,000 cities and towns accounted for more than 70% of the new JioAirFiber additions.

@ JioBrain, an AI-powered machine learning platform, and JioAICloud, which offers 100GB of free cloud storage, were unveiled by Jio.

2. Retail Reliance

In Q3FY25, Reliance Retail Ventures reported a ₹3,458 crore profit, up 10% year over year. Its status as one among India’s most favored retailers was cemented when its client base increased by 5% to over 338 million.

Revenue Growth: Driven by wedding season sales and festive shopping, revenue increased by 18.4% QoQ and 8.8% YoY to ₹90,333 crore.

Operational Efficiency: Margin increased 20 basis points to 8.6%, while EBITDA increased 9.5% year over year to ₹6,828 crore. EBITDA grew 16.7% sequentially.

Expansion: During the quarter, 779 new stores were opened, increasing the total to 19,102 locations with 77.4 million square feet of operating space.

3. O2C (oil-to-chemicals)

O2C income increased 6% year over year to ₹1.49 lakh crore as a result of robust local demand and increased production.

EBITDA Growth: Despite low fuel margins, EBITDA grew 2.4% year over year to ₹14,402 crore thanks to more domestic placements and effective feedstock procurement.

Production and Throughput: Production for sale increased by 9.1% to 17.9 MMT, while total throughput increased by 8% YoY to 20.2 MMT.

4. Gas and Oil

Due to lower volumes from KG D6 and poorer recoveries for CBM gas and condensates, the oil and gas business reported ₹6,370 crore in revenue for Q3FY25, a 5.2% YoY decrease.

EBITDA: Due to reduced KG D6 shipments and realizations, it fell 4.1% year over year to ₹5,565 crore.

Gas Prices: The average price of KG D6 gas was $9.74/MMBTU, which was somewhat higher than the $9.66 price in Q3FY24.

Production Volumes: At 68.5 billion cubic feet equivalent (BCFe), KG D6 natural gas production fell 5.3% year over year. However, CBM production increased 35% year over year to 2.7 BCFe.

5. Balance sheet

@ As of Q3FY25, outstanding debt was ₹3.5 lakh crore, up ₹14,116 crore from the previous quarter. Net debt dropped to ₹1.15 lakh crore as cash and equivalents rose by ₹15,089 crore to ₹2.35 lakh crore.

@ Compared to the prior quarter, when it was 0.66, the net debt-to-EBITDA ratio improved to 0.6.