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Reliance Industries, India’s largest conglomerate by market value, announced its financial results for the first quarter of the fiscal year 2024-25. The earnings revealed a mixed performance across its various segments.
NEW DELHI: Reliance Industries, India’s largest conglomerate by market value, announced its financial results for the first quarter of the fiscal year 2024-25. The earnings revealed a mixed performance across its various segments.
The company reported a consolidated net profit of ₹15,138 crore for the quarter ended June 2024, marking a decline of 5% from ₹16,011 crore in the corresponding quarter last year. Sequentially, the profit fell sharply by 20% from ₹18,951 crore in the previous quarter (January-March 2024).
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Revenue from operations increased to ₹2.36 lakh crore from ₹2.10 lakh crore in the first quarter of the previous fiscal year, reflecting a growth trajectory amidst challenging market conditions. EBITDA also fell 9% to Rs 38,765 cr on a quarter on quarter basis.
Telecom Operations, Reliance Jio reported a standalone net profit of ₹5,445 crore for Q1FY25, a marginal 2.02% increase from ₹5,337 crore in the previous quarter (Q4FY24). Revenue from operations rose by 2% to ₹26,478 crore from ₹25,959 crore in Q4FY24. EBITDA for Reliance Jio increased 2% ₹13,920 Cr on quarter on quarter basis.
The company’s refining margins and fuel cracks were adversely impacted, contributing to a decrease in profitability. Higher depreciation costs further compounded the financial challenges in this segment.
Reliance Industries’ stock price closed 1.92% lower at ₹3,109.50 apiece on the Bombay Stock Exchange (BSE) following the announcement of its financial results. The market response indicated cautious sentiment among investors.
Earnings per share stood at ₹22.37, down from ₹23.66 in the same period last year.
Reliance Industries Ltd is India’s largest private sector conglomerate, with diversified interests in petrochemicals, refining, oil & gas exploration, retail, and telecommunications. The company, under the leadership of Mukesh Ambani, continues to be a key player in shaping India’s economic landscape.
