Refineries & Petro-Products company Reliance Industries announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Gross Revenue increased by 8.8% YoY to Rs 2,88,138 crore (USD 33.7 billion). JPL revenue increased by 17.8% YoY due to increased subscriber base across mobility and homes, and sustained impact of the tariff hike. RRVL revenue increased by 15.7% YoY with growth across consumption baskets. Oil to Chemicals (O2C) revenue improved by 15.4% YoY due to increased volumes and broader domestic product footprint. Oil and Gas segment revenue decreased by 0.4% due to lower gas production and lower oil offtake from KGD6, partly offset with higher gas price realisation in KGD6 Field and higher CBM production. EBITDA increased by 3.6% YoY to Rs 48,737 crore (USD 5.7 billion). JPL EBITDA increased by 18.5% YoY driven by strong revenue growth and improved margins. RRVL EBITDA increased by 14.3% YoY with improved operational efficiencies and superior store operating metrics. O2C EBITDA reduced by 10.0% due to fall in transportation fuel cracks and polyester chain margins partially offset by higher volumes and feedstock cost optimization. Oil and Gas segment EBITDA decreased by 8.6% on account of higher operating cost due to onetime maintenance activity and a natural decline in KGD6 volumes. Depreciation was steady YoY to Rs 13,479 crore (USD 1.6 billion). Finance Costs increased by 6.8% YoY to Rs 6,155 crore (USD 720 million), primarily due to higher average liability balances. Tax Expenses increased by 1.4% YoY to Rs 6,669 crore (USD 780 million). Profit After Tax and Share of Profit/(Loss) of Associates & JVs increased by 6.4% YoY to Rs 22,611 crore (USD 2.6 billion). Capital Expenditure for the quarter ended March 31, 2025, was Rs 36,041 crore (USD 4.2 billion). FY25 Financial Highlights: Gross Revenue increased by 7.1% YoY to Rs 1,071,174 crore (USD 125.3 billion). JPL revenue increased by 16.9% YoY led by higher ARPU on account of tariff revisions for mobility services and improving subscriber mix. Strong growth in home connects and scale up of digital services also contributed to revenue growth. RRVL revenue increased by 7.9% YoY led by growth in consumer electronics and grocery consumption baskets. Oil to Chemicals (O2C) revenue improved by 11.0% YoY with higher volumes and increased domestic product placement - Gasoline (+42%), Gasoil (+33%), ATF (+62%). Oil and Gas segment revenue increased by 3.2% due to higher volumes from KGD6 and CBM blocks. EBITDA increased by 2.9% YoY to Rs 1,83,422 crore (USD 21.5 billion). JPL EBITDA increased by 16.8% YoY driven by strong revenue growth and sustained high EBITDA margin. RRVL EBITDA increased by 8.6% YoY driven by strong productivity gains with recalibration of store network. O2C EBITDA reduced by 11.9% on account of a weak margin environment across transportation fuels and downstream chemical deltas. Earnings were supported by higher volumes, operational flexibility, efficient feedstock sourcing and better capture of domestic margins. Oil and Gas segment EBITDA increased by 4.9% tracking higher revenues and improved operating margins.Depreciation increased by 4.5% YoY to Rs 53,136 crore (USD 6.2 billion). Finance Costs increased by 5.0% YoY to Rs 24,269 crore (USD 2.8 billion), primarily due to higher average liability balances. Tax Expenses declined by 1.9% YoY at Rs 25,230 crore (USD 3.0 billion). Profit After Tax and Share of Profit/(Loss) of Associates & JVs increased by 2.9% YoY to Rs 81,309 crore (USD 9.5 billion). Capital Expenditure for the year ended March 31, 2025, was Rs 131,107 crore (USD 15.3 billion). Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries, said: “FY25 has been a challenging year for the global business environment, with weak macro-economic conditions and a shifting geo-political landscape. Our focus on operational discipline, customer-centric innovation and fulfilling India’s growth requirements has helped Reliance deliver a steady financial performance during the year The Oil to Chemicals business posted a resilient performance despite considerable volatility in energy markets. Significant demand-supply imbalances in downstream chemicals markets have led to multi-year low margins. Our business teams ensured optimization of integrated operations and feedstock costs to enhance margin capture across value chains. The Oil & Gas business recorded its highest ever annual EBITDA led by higher production from our KGD6 and CBM blocks. 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. 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. 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.” Akash M Ambani, Chairman of Reliance Jio Infocomm, said: “Jio continues to drive consistent outperformance in customer engagement with best-in-the-world network technologies and a wide bouquet of digital services for all Indians. Jio is proud to have served millions of users at world’s largest congregation of people, the Mahakumbh mela where its network scalability and flexibility was well demonstrated. Jio is working on enabling large scale AI infrastructure and services that will add an intelligence layer to all Jio services.” Isha M. Ambani, Executive Director, Reliance Retail Ventures, said: “Reliance Retail delivered strong growth in revenue and profits, powered by improved efficiencies, innovative formats, a sharper product mix, and continued investments in technology and customer experience. We remain focused on shaping the future of retail with agility and purpose". Result PDF