Explorer

Reliance Q2 FY25: Net Profit Declines 4.78% To Rs 16,563 Crore

RIL said that an unfavourable demand-supply imbalance resulted in a significant 50 per cent drop in transportation fuel cracks, along with ongoing weakness in downstream chemical margins

Reliance Industries Ltd (RIL) reported a 4.78 per cent decline in its consolidated net profit for the second quarter of the financial year 2024-25 (Q2 FY25), the company said on Monday. The company's net profit for the quarter was Rs 16,563 crore, down from Rs 17,394 crore in the same period last year.

RIL's total income increased by 0.65 per cent to Rs 2,40,357 crore, up from Rs 2,38,797 crore in the same quarter last year. The company, led by Mukesh Ambani, reported stable gross revenue year-on-year (YoY) at Rs 2,58,027 crore (approximately $30.8 billion).

"Reliance once again demonstrated the resilience of its diversified business portfolio. Our performance reflects robust growth in Digital Services and Upstream business. This helped partially offset weak contribution from O2C business, which was impacted by unfavourable global demand-supply dynamics," Ambani said. 

RIL stated in a release that an unfavourable demand-supply imbalance resulted in a significant 50 per cent drop in transportation fuel cracks, along with ongoing weakness in downstream chemical margins.

"Oil-to-chemicals (O2C) revenue improved with higher volumes and increased domestic placement of products. Digital services revenue increased with the impact of revised telecom tariffs for mobility services and scale-up of homes and digital services businesses. Lower gas price realisations led to 6 per cent lower revenue in the oil and gas segment," it also said. 

EBITDA (earnings before interest, taxes, depreciation, and amortisation) fell by 2 per cent year-on-year to Rs 43,934 crore (approximately $5.2 billion). "EBITDA for Jio Platforms Ltd increased 17.8 per cent YoY due to better subscriber mix, digital services scale-up and revision in telecom tariffs," it also said.

"EBITDA margin for Reliance Retail Ventures Ltd improved by 30 basis points (bps) with continued focus on streamlining of operations and calibrated approach in B2B. O2C EBITDA was lower by 23.7 per cent on account of sharp decline in product margins. Fuel cracks declined by nearly 50 per cent YoY. Downstream chemical also declined with muted global demand in a well-supplied market. RIL benefited due to superior ethane cracking economics driven by sharp fall in ethane prices. Oil and gas segment EBITDA increased by 11 per cent on account of sustained volume growth and one time provisioning towards decommissioning cost for Tapti field in Q2 FY24," RIL added.

Also Read : IPO: Hyundai Issue Opens Today, Check GMP Before Placing Bids For Subscription

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

'You Will Be Chief Minister Someday': Fadnavis Tells His Deputy Ajit Pawar, Shares 24-Hour Work Plan
'You Will Be Chief Minister Someday': Fadnavis Tells His Deputy Ajit Pawar, Shares 24-Hour Work Plan
'Motion' To Remove Jagdeep Dhankhar As Rajya Sabha Chairman Dismissed On Technicality. Here's What Happened
'Motion' To Remove Dhankhar As RS Chairman Dismissed On Technicality
Rahul Gandhi Sports Blue T-Shirt To Protest Ambedkar's 'Insult'. Know Why Blue Is Linked With Dalit Resistance
RaGa Sports Blue T-Shirt To Protest Ambedkar's 'Insult'. Know Why Blue Is Linked With Dalit Resistance
'I Never Thought...': Ravichandran Ashwin Responds To Father's Controversial Remarks
'I Never Thought...': Ravichandran Ashwin Responds To Father's Controversial Remarks
Advertisement
ABP Premium

Videos

Rahul Gandhi Linked to Incident That Led to BJP MP Mukesh Rajput’s HospitalizationBJP MP Mukesh Rajput Hospitalized in ICU After Alleged Push by Rahul GandhiHeated Exchange in Parliament as Opposition Targets Amit Shah Over Ambedkar RemarksLucknow Protest Turns Tragic: Congress Worker Dies, Police Investigation Underway

Photo Gallery

Embed widget