Financial And Operational Performance Of Reliance Industries Limited (RIL) & Reliance Jio Infocomm Limited (RJIL).

Mumbai,15th of October, 2024 : Reliance Industries Ltd Q2 FY2024-25 Results

Consolidated Numbers:

• Reliance posted consolidated revenues at ₹258,027 crore ($30.8 billion), up marginally YoY
• Reliance’s consolidated EBITDA marginally declined to ₹43,934 crore ($5.2 billion). Strong contribution from Digital Services was offset by a weakness in O2C.
• Reliance’s consolidated Profit after tax and Share of Profit/(Loss) of Associates & JVs decreased 2.8% Y-o-Y to ₹19,323 crore
• Capital Expenditure for the quarter ended June 30, 2024, was ₹34,022 crore ($4.1 billion)
• RIL’s consolidated Net Debt as of 30th Sept 2024 was marginally lower at ₹116,438 crore as against ₹117,727 crore as of 30th Sept 2023

Jio Platforms

• Jio Platforms’ EBIDTA for quarter ended Sept 2024 increased by 17.8% Y-o-Y to ₹15,931 crore 
• Jio’s net profit for the quarter grew 23.4% Y-o-Y to a record high of ₹6,539 crore 
• Jio’s subscriber base stood at 478.8 million at end Sept ’24, 4.2% higher Y-o-Y. Limited amount of SIM consolidation observed after the tariff hike in 2Q FY25, offsetting continued strength in gross addition; monthly churn increased to 2.8% 
• Jio’s ARPU increased to ₹195.1 with the partial follow-through of the tariff hike and a better subscriber mix. The full impact of the tariff hike will flow through in the next 2-3 quarters 
• Jio’s customer engagement levels continued to remain strong with total data and voice traffic increasing by 24% to 45.0 bn GB and 6.4% Y-o-Y to 1.42 trillion minutes, respectively 
• Jio has crossed 147 million subscribers on True5G in less than two years of launch and continues to be the largest 5G operator outside China 
• JioAirFiber’s rapid uptake has significantly accelerated the pace of home connections, with ~2.8 million connected homes by JioAirFiber as of September 2024. Jio’s pace of home connections is the fastest of its kind globally 

Reliance Retail

• Reliance Retail’s Gross Revenue for Sept 2024 quarter dropped 1.1% Y-o-Y to ₹76,302 crore, impacted by weak F&L demand, continued focus on streamlining of operations and calibrated approach to B2B business to improve margins
• Reliance Retail’s quarterly EBITDA from operations was at ₹5,675 crore, up 1.0% Y-o-Y. EBITDA margin from operations at 8.5%, up 40 bps Y-o-Y
• Reliance Retail opened 464 new stores. Total store count stood at 18,946 at end Sept ’24 with area under operation at 79.4 million sq. ft. The quarter recorded footfalls of over 297 million, a growth of 14.2% Y-o-Y.
• The registered customer base grew to 327 million, making Reliance Retail one of the most preferred retailers in the country. The total transactions recorded were at 343 million, up 8.9% Y-o-Y

O2C and E&P

• Reliance’s O2C Segment Revenue for the quarter increased by 5.1% Y-o-Y to ₹155,580 crore ($ 18.6 billion) higher volumes and significant increase in domestic fuel retail sales.
• Reliance’s O2C Segment EBITDA for Sept ’24 quarter was lower by 23.7% Y-o-Y at ₹12,413 crore ($1.5 billion) as unfavourable demand-supply balance led to sharp ~50% decline in transportation fuel cracks and weakness continued in downstream chemical deltas.
• The Oil & Gas segment revenue for the quarter was lower by 6.0% Y-o-Y at ₹6,222 crore ($743 million), mainly on account of lower price realisation partly offset by increase in gas and condensate volumes in KGD6 and CBM field
• The Oil & Gas segment’s quarterly EBITDA increased to ₹5,290 crore which is up by 11.0% on Y-o-Y basis. EBITDA margin was at 85.0% for the quarter.
• The average KGD6 Production for the 2Q FY25 is 28.5 MMSCMD of gas and 20,800 bbl / day of Oil / Condensate

About The Author