Daijiworld Media Network - Mumbai

Mumbai, Jan 16: Mukesh Ambani-led Reliance Industries Ltd (RIL) on Friday reported a marginal 0.56 per cent year-on-year growth in its consolidated net profit at Rs 18,645 crore for the third quarter, attributable to shareholders. Revenue from operations during the period rose 11 per cent YoY to Rs 2.69 lakh crore.

On a sequential basis, profit increased 3 per cent from Rs 18,165 crore reported in the September quarter, while revenues rose 4 per cent quarter-on-quarter. The oil-to-telecom conglomerate posted an EBITDA of Rs 50,932 crore, up 6 per cent YoY, led by strong operating performance in the Jio and oil-to-chemicals (O2C) businesses.

“Reliance is entering a new phase of value creation with its initiatives in the AI and new energy domains. I am confident that Reliance will play a pioneering role in the evolution of these epoch-defining technologies,” said Mukesh Ambani, Chairman and Managing Director, RIL.

During the quarter, depreciation rose 11 per cent YoY to Rs 14,622 crore, while finance costs increased 7 per cent to Rs 6,613 crore, largely due to the operationalisation of 5G spectrum assets. Tax expenses stood at Rs 7,530 crore, up 10 per cent YoY. Capital expenditure for the quarter amounted to Rs 33,826 crore, driven by investments in O2C, new energy, and expansion of Jio and Retail networks.

The O2C segment reported an 8 per cent increase in revenues at Rs 1.69 lakh crore, while EBITDA rose 15 per cent YoY to Rs 16,507 crore, supported by higher transportation fuel cracks and improved sulphur realisations. Fuel retailing through Jio-bp expanded its network to 2,125 outlets, driving strong volume growth.

Reliance Jio posted an 11 per cent YoY rise in net profit at Rs 7,629 crore, with revenues up 13 per cent to Rs 43,683 crore. EBITDA for the segment rose 16 per cent YoY to Rs 19,303 crore, while ARPU increased to Rs 213.7. The subscriber base reached 515 million, with 5G users touching 253 million.

Reliance Retail reported a steady performance, with profit after tax rising 3 per cent YoY to Rs 3,551 crore and gross revenue increasing 8 per cent to Rs 97,605 crore. The company added 431 new stores during the quarter, taking the total count to 19,979.

The oil and gas business reported lower revenues and EBITDA due to reduced volumes and price realisations, while JioStar posted strong revenues of Rs 8,010 crore with EBITDA of Rs 1,303 crore.

Shares of RIL closed 0.15 per cent higher at Rs 1,461 on the NSE ahead of the results announcement.