RIL April-June Net Profit Jumps 78% On One-Off Gain

Reliance Industries Ltd. posted a 78% on-year rise in consolidated net profit for the April–June quarter at ₹269.94 million, largely driven by a one-time gain of over ₹89 million from the sale of listed investments. Excluding this, the company's operating performance fell slightly short of expectations.

Revenue, excluding excise duty, grew 5% on year to ₹2.436 trillion. However, EBITDA excluding other income stood at ₹429.05 million, lower than the consensus estimate of ₹449.99 million.

The company recorded other income of ₹151.19 million during the quarter, compared with ₹39.83 million a year ago. Analysts attributed the spike to stake sales in Asian Paints Ltd., although Reliance did not confirm this.

EBITDA including other income rose 36% on year to ₹580.24 million, with margins improving 460 basis points to 21.2%. The company incurred ₹298.75 million in capital expenditure and ended the quarter with net debt of ₹1.176 trillion.

Oil-to-Chemicals Business Misses Expectations

Revenue from the oil-to-chemicals segment fell 1.5% on year to ₹1.548 trillion, while EBITDA rose 11% to ₹145.11 million—below the expected 19% growth. Margins improved 110 basis points to 9.4%.

The company said growth was supported by better downstream margins and domestic demand through Jio-bp, despite lower throughput due to planned maintenance and weak polyester margins.

Jio Platforms Outperforms On Strong Subscriber Growth

Telecom arm Jio Platforms Ltd. reported a 19% on-year rise in revenue to ₹350.32 million and a 24% increase in EBITDA to ₹181.35 million, beating expectations. Margins improved sequentially to 51.8%.

Average revenue per user rose to ₹208.80 from ₹206.00 a quarter ago. The subscriber base expanded to 498.1 million, driven by 10 million net additions.

Retail Segment Growth Muted

Reliance Retail Ventures Ltd. posted an 11% rise in revenue to ₹737.20 million, while EBITDA grew 13% to ₹63.81 million, trailing expectations of 21% growth. Margins expanded 20 basis points to 8.7%.

The company opened 252 new stores during the quarter, taking the total to 19,592. Gross operating area declined to 77.6 million sq ft from 81.1 million a year ago.

Customer footfall rose 24% on year to 358 million, with strength in grocery, fashion, and the Ajio and beauty categories.

Oil And Gas Exploration Revenue Slips

Revenue from the oil and gas business fell 1% on year to ₹61.03 million, while EBITDA declined 4% to ₹49.96 million. Margins dropped 240 basis points to 81.9%.

Gas production from the KG-D6 basin declined 8% to 63.9 bcf, while CBM output rose 22% to 2.8 bcf. Gas realisation from KG-D6 improved, while CBM pricing fell.