Mumbai: Reliance Industries Limited (RIL), India’s most valuable company by market capitalisation, on Monday reported a record consolidated net profit of ₹19,950 crore for the first quarter of financial year 2025 (April–June 2024), representing a 12.4 per cent year-on-year increase, driven by an outstanding performance in its digital services (Jio) and retail divisions.
The company’s revenue from operations for Q1 FY25 stood at ₹2.36 lakh crore, up 11.5 per cent from the same period last year. EBITDA grew 14 per cent year-on-year to ₹43,140 crore, with the EBITDA margin expanding by 50 basis points to 18.3 per cent.
Jio Platforms, which reported revenues of ₹28,550 crore (up 9.7 per cent year-on-year), was the key growth engine, driven by higher ARPU (Average Revenue Per User) following tariff hikes implemented in July and strong subscriber additions in tier-2 and tier-3 cities. Jio’s subscriber base crossed 48.5 crore, maintaining its position as India’s largest telecom operator.
Reliance Retail, with 19,340 stores across the country, posted revenues of ₹83,000 crore — a 17 per cent year-on-year increase — driven by strong festive pre-stocking, growth in fashion and electronics, and rapid expansion of its JioMart e-commerce platform. Reliance Retail is now India’s most profitable brick-and-mortar retailer.
Chairman and Managing Director Mukesh Ambani said the results reflected “the power of Reliance’s integrated, diversified business model” and expressed confidence in achieving the company’s target of doubling revenues to $200 billion by 2030. He also indicated that the company’s New Energy and Green Hydrogen businesses were on track for commercial launch.
The Oil-to-Chemicals (O2C) segment saw a slight moderation in margins due to lower crack spreads and higher crude input costs, but volumes remained strong. RIL’s net debt decreased by ₹17,000 crore during the quarter, reflecting strong operating cash flows.
