Reliance Industries Reports Strong FY25 Revenue and Profit Growth, Achieves Historic Net Worth Milestone

Reliance Industries Limited (RIL), India’s largest conglomerate, recently announced its fourth-quarter and year-end financial results for the fiscal year 2024-2025, showcasing impressive revenue growth and significant milestones. For the fourth quarter, RIL posted a net profit of ₹22,611 crore, marking a 6.44% increase from ₹21,243 crore in the same period the previous year. Revenue from operations during the quarter rose by 10.51% to ₹2,61,388 crore, up from ₹2,36,533 crore in Q4 FY24, exceeding market expectations.

Annual Performance

For the entire fiscal year 2025, RIL achieved its highest-ever annual consolidated revenue of ₹9,64,693 crore, reflecting a growth of 7.30% year-over-year. The strong performance was mainly driven by the company’s consumer businesses and the Oil to Chemicals (O2C) segment. Additionally, RIL became the first Indian company to surpass a net worth of ₹10 lakh crore, a historic corporate milestone.

Key Segment Performance

1. Digital Services (Jio): RIL’s digital services business continued to thrive, with Q4 revenue reaching ₹39,853 crore, reflecting a robust 17.8% growth compared to last year. The Jio platform’s EBITDA for the quarter rose by 18.5%, reaching ₹17,016 crore. By March 2025, Jio’s subscriber base crossed 488 million, including 191 million 5G users. The Average Revenue Per User (ARPU) grew to ₹206.2, fueled by tariff increases and an improved subscriber mix. Jio is also focusing heavily on innovations, particularly in Artificial Intelligence and next-gen technologies.
2. Retail: Reliance Retail saw impressive growth in Q4 FY25, with revenue reaching ₹88,620 crore, a 15.7% increase from the same period in the previous year. The EBITDA for this segment stood at ₹6,711 crore, up by 14.3%. The retail business continues to expand its footprint, with 2,659 new stores opened during the year, bringing the total to 19,340 stores. Additionally, the company has seen significant success with its quick hyperlocal delivery services, which saw a 2.4x increase in daily gross orders in Q4.
3. Oil to Chemicals (O2C): The O2C business recorded a revenue of ₹164,613 crore in Q4, marking a 15.4% increase year-over-year. However, the segment’s EBITDA fell by 10% to ₹15,080 crore due to lower margins in transportation fuels and polyester products. For the entire fiscal year, O2C revenue rose by 11% to ₹626,921 crore, though the segment’s overall EBITDA was lower due to continued volatility in energy prices.
4. Oil & Gas (Exploration and Production): The Oil & Gas segment experienced a slight decline in Q4, with revenues falling by 0.4% to ₹6,440 crore. The drop was mainly due to reduced gas production and oil offtake from the KGD6 fields. Despite this, the segment showed improvement for the full year, with a 3.2% revenue increase and a 4.9% rise in EBITDA.

Other Highlights

• Jio-bp: The partnership between Jio and BP showed strong growth in sales volumes, particularly in high-speed diesel (HSD) and aviation turbine fuel (ATF).
• JioStar: The merger with JioStar led to a revenue of ₹10,006 crore in Q4, with an EBITDA of ₹774 crore. The OTT platform achieved over 100 million paid users within five weeks of its launch.

Financial Investments

Reliance also reported a capital expenditure of ₹131,107 crore ($15.3 billion) for FY25 and plans to raise funds up to ₹25,000 crore through the issuance of non-convertible debentures.

Mukesh Ambani, the Chairman of RIL, noted that FY25 had been a challenging year due to global macroeconomic pressures and geopolitical shifts. However, he highlighted the resilience of the company’s O2C and retail segments and the continued innovation in Jio, which is investing heavily in Artificial Intelligence and next-generation digital technologies.

Despite the positive overall performance, RIL’s stock closed lower following the earnings announcement, down 0.09% at ₹1,300.40 per share. However, the stock has risen by 7% in the past month.

Conclusion

RIL’s FY25 results reflect strong growth in key consumer-facing and O2C businesses, while some segments faced margin pressures in Q4. The company’s diversified portfolio and continued focus on innovation position it well for sustained growth in the future.