Reliance Industries’ Q1FY25 Quarter Results
Reliance Industries’ revenue grew 12% YoY
- 22 Jul 2024
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- Reliance Industries reported 2% quarter-on-quarter (QoQ) decrease in its consolidated revenues for the quarter ended June (Q1FY25). On a year-on-year (YoY) basis, it witnessed growth of 12%.
- Its expenses for the quarter were down by 0.3% QoQ and up 14% YoY.
- The net profit decreased 18% QoQ and 4% YoY.
- The earnings per share (EPS) of Reliance Industries stood at 22.4 during Q1FY25.
Reliance Industries’ Financial Statements for Q1FY25:
| (Rs crores) | Q1FY24 | Q4FY24 | Q1FY25 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total income | 214,644 | 245,249 | 240,200 | -2% | 12% |
Total expenses | 190,350 | 217,529 | 216,966 | -0.3% | 14% |
Profit before tax | 24,294 | 27,720 | 23,234 | -16% | -4% |
Tax | 6,112 | 6,577 | 5,786 | -12% | -5% |
Profit after tax | 18,258 | 21,243 | 17,445 | -18% | -4% |
Earnings per share | 23.7 | 28.0 | 22.4 |
Q1 FY25 Performance Highlights
- Gross Revenue: ₹257,823 crore ($30.9 billion), up 11.5% YoY, driven by higher oil prices, strong Oil & Gas volumes, and steady consumer business growth.
- EBITDA: ₹42,748 crore ($5.1 billion), up 2.0% YoY.
- Depreciation: ₹13,596 crore, up 15.5% YoY due to expanded assets and increased utilisation.
- Finance Costs: ₹5,918 crore, up 1.4% YoY from higher interest rates.
- Profit After Tax: ₹17,448 crore, decreased YoY.
- Capital Expenditure: ₹28,785 crore ($3.5 billion).
Key Highlights
- Year-on-year revenue growth was driven by strong performance across all key segments.
- EBITDA growth was bolstered by the upstream and consumer businesses despite a muted performance in the O2C(Oil to Chemicals) segment due to challenging operating conditions.
- The Year-on-Year PAT was affected by increased depreciation costs.
- The Quarter-on-Quarter decline in PAT was primarily due to a 22% drop in O2C EBITDA.
Management Commentary
Mukesh D. Ambani-Reliance Industries Limited Chairman & Managing Director said:
- Consolidated EBITDA improved year-on-year due to strong Consumer and Upstream contributions.
- Jio’s True 5G network, covering 85% of India’s capacity, drives financial growth and digital transformation.
- Retail business achieved robust results, supported by all consumption baskets and rapid expansion.
- O2C business mitigated challenges through integration and flexibility despite lower fuel cracks.
- Progress on New Energy Giga-factories aims to create a sustainable green energy ecosystem in India.
- Mr. Akash M Ambani, Chairman of Reliance Jio Infocomm said “Ubiquitous, high-quality, affordable internet is the backbone of Digital India and Jio takes pride in contributing to this. Our new prepaid plans would foster industry innovation towards 5G and AI and drive sustainable growth. Jio with its superior network and new service propositions would further build its market leadership with a customer first approach.
Data Source: BSE, Company announcements
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