Refineries & Petro-Products company Reliance Industries announced Q3FY25 results Gross Revenue increased by 7.7% YoY to Rs 2,67,186 crore (USD 31.2 billion). JPL revenue increased by 19.2% YoY due to continuing flow through of tariff revisions for mobility services, and healthy growth in homes and digital services businesses. RRVL revenue increased by 8.8% YoY with growth across consumption baskets driven by festive buying and wedding season. Oil to Chemicals (O2C) revenue improved by 6% YoY with higher volumes and increased domestic product placement. Planned shutdown of major units during the same quarter last year impacted volumes. Marginally lower KGD6 volumes and fall in price realisations for CBM and condensate led to 5.2% decline in Oil and Gas segment revenue. EBITDA increased by 7.8% YoY to Rs 48,003 crore (USD 5.6 billion). JPL EBITDA increased by 18.8% YoY driven by higher subscriber base, improving ARPU and favorable mix. RRVL EBITDA increased by 9.5% with improved operational efficiencies and superior store operating metrics. O2C EBITDA increased by 2.4% supported by higher volumes and operational flexibility. Efficient feedstock sourcing, higher domestic product placement and improved polymer deltas offset weak fuel cracks. Oil and Gas segment EBITDA decreased by 4.1% largely on account of decline in volumes and price realisations. Depreciation increased by 2.2% YoY to Rs 13,181 crore (USD 1.5 billion). Finance Costs increased by 6.7% YoY to Rs 6,179 crore (USD 722 million), primarily due to higher debt balance. However, net debt remained largely flat. Tax Expenses increased by 7.8% YoY to Rs 6,839 crore (USD 799 million). Profit After Tax and Share of Profit/(Loss) of Associates & JVs increased by 11.7% YoY to Rs 21,930 crore (USD 2.6 billion). Capital Expenditure for the quarter ended December 31, 2024, was Rs 32,259 crore (USD 3.8 billion). Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries, said: “The previous month commemorated the 25th anniversary of our Jamnagar refinery. It gives me great pleasure to see Reliance grow exponentially over the years and set new benchmarks that demonstrate the inherent strength and resilience we have across all our businesses. The delivery of Record EBITDA and PAT at a consolidated level for this quarter is a testament to this. Robust growth in digital services business was led by sustained subscriber addition and consistent improvement in customer engagement metrics. This was well supported by a favorable subscriber mix, with an increasing number of users upgrading to 5G networks. Jio’s compelling offering of home broadband services also continued to rapidly gain ground and maintain its pre-eminent market position. It gives me immense joy to see Jio grow and support the expanding technology capabilities of new India. Teams at Jio continue to enhance its offerings, in line with the constantly evolving technology landscape to bring the best-in-class digital experience to all. Retail segment delivered a strong performance, with noteworthy contribution from all formats. The business ably capitalized on the pick-up in consumption amid festive demand during the quarter. A superior understanding of customer needs and preferences enables Reliance Retail to serve a wide variety of demographic profiles with the right product, at the right time, through the right channel. With customer-centric innovation at its core, the business constantly endeavors to enhance the shopping experience of its customers through its vast reach and a constantly expanding product basket. The O2C business showcased its innate resilience, registering growth even in this prolonged period of volatility in the global energy markets. Refining margins recovered sequentially, with petrochemical deltas exhibiting a mixed trend. Upstream segment continues to play a pivotal role in providing the crucial transition fuel bolstering India’s energy security. As we stand at another iconic milestone today, we are geared up for the transformational growth that Reliance is set to experience in the near future.” Akash M Ambani, Chairman of Reliance Jio Infocomm, said: “Jio has played a key role in digital inclusion by bringing the world’s best communication technologies for every Indian. Rapid scale up of 5G adoption and proliferating fixed broadband beyond Tier1 towns over the past year, further strengthens the Digital India mission. Jio will continue to lead the charge in technology innovation by fully embracing the power of AI to create a connected, intelligent future that is truly transformative. This will drive sustained value creation over next many years.” Isha M. Ambani, Executive Director, Reliance Retail Ventures, said: “Reliance Retail delivered strong performance during the quarter led by festive buying across consumption baskets. Our focus on offering wide range of products at an attractive price value proposition continues to draw customers to our stores and digital platforms. We are creating through JioMart – express deliveries, scheduled deliveries coupled with Milkbasket - subscription services, a seamless shopping experience that serves diverse customers across all categories and catchment”. Result PDF