Billionaire Mukesh Ambani-led Reliance Industries recorded a 7.4 per cent increase in its third quarter earnings for the financial year 2024-25, mainly driven by its retail, telecom and oil and petrochemicals business. The oil-to-telecom conglomerate reported a consolidated net profit of Rs 18,540 crore in Q3 FY25 from Rs 17,265 crore in the same quarter of FY24.
“Robust growth in the digital services business was led by sustained subscriber addition and consistent improvement in customer engagement metrics. This was well supported by a favourable subscriber mix, with an increasing number of users upgrading to 5G networks,” said RIL chairman Mukesh Ambani. Retail business benefitted as consumption picked up, driven by festive demand, he added
Reliance Retail
The retail arm of the conglomerate reported an 8.75 per cent increase in gross revenue to Rs 90,333 crore, while its profit after tax (PAT) rose 10 per cent to Rs 3,458 crore for the December quarter. Digital commerce and new commerce contributed 18 per cent of the total revenue of Reliance Retail as it continued to scale these new-age channels.
RIL is eyeing to bring American luxury department store chain Saks Fifth Avenue in India as a part of its retail business expansion plans.
“So to address the super Luxury segment in India, we entered into a franchise for India with Saks, Fifth Avenue,” said Reliance Retail CFO Dinesh Taluja during the earnings call.
Reliance Telecom
Jio Infocomm's standalone profit jumped 24 per cent to Rs 6,477 crore in Q3 FY25. Jio Platforms, that houses all digital business, consolidated net profit rose to Rs 6,861 crore.
All four key parameters data minute usage, data consumed, average per-user earnings, and number of subscribers grew. The customer base rose to 482.1 million from 478.8 million in July-September 2024 and 470.9 million in October-December 2023, average revenue per user crossed the Rs 200 per month mark. ARPU in Q3 was Rs 203.3 against Rs 195.1 in the previous quarter and Rs 181.7 the previous year.
The residual impact of the tariff hike implemented in mid-2024 will flow through over the next few months, the company said.
With Inputs from PTI.
