RIL Q3 net profit rises 7.3% to ₹18,540 crore

Reliance Industries Ltd. (RIL) Q3 consolidated net profit grew 7.3% year-on-year to ₹18,540 crore led by strong growth in digital services, retail, O2C EBITDA and stable upstream performance, the company said

Consolidated revenue at ₹ 267,186 crore grew 7.7% YoY.

Mukesh D. Ambani, Chairman and Managing Director, RIL said, “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.”

“Retail segment delivered a strong performance, with contribution from all formats. “The business ably capitalized on the pick-up in consumption amid festive demand during the quarter,” he said..

The O2C business showcased its resilience, registering growth even in this prolonged period of volatility in the global energy markets, Mr. Ambani said.

“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,” he said.

Digital’s Services delivered strong EBITDA at ₹ 16,640 crore, up 17% YoY, led by higher ARPU of ₹ 203.3 with sustained impact of tariff hike and better subscriber mix. Residual impact of tariff hike to flow through over the next few months.

“Jio continues to drive 5G uptake in India with 170 million subscribers on True5G accounting for 40% of Jio’s wireless traffic,” the company said

Reliance Retail’s gross revenue for the quarter grew 8.8% Y-o-Y to ₹90,333 crore, driven by several productivity improvement initiatives and increased customer engagement during festive period through new product launches, promotions and in-store activations.

This division’s quarterly EBITDA from operations was at ₹6,632 crore, up 9.8% Y-o-Y. EBITDA margin from operations at 8.6%, up 20 bps Y-o-Y.

The performance of the O2C business was led by strong domestic demand, higher volumes and operational flexibility.

O2C EBITDA at ₹ 14,402 crore, up 2.4% YoY led by operational flexibility, robust domestic demand and higher volumes.

Oil & Gas business EBITDA declined 4% YoY on account of lower KG D6 volumes.

Capex for the quarter at ₹32,259 crore was well covered by cash profit of ₹38,227 crore, the company said.

Net debt as of 31 December 2024 marginally lower QoQ at ₹115,465 crore,