Reliance Industries Q4 Results Highlights: Jio, retail steer FY25 growth, O2C weakens; dividend declared

Reliance Industries Q4 Results Live: Reliance Retail, a sector bellwether that sells groceries to toys and cosmetics to global fashion brands, posted a robust performance on the back of better product mix and formats. It’s an early sign that India’s year-long consumption slump may be easing

Ambani-controlled Jio Platforms Ltd. announced a surprise pact in March with SpaceX to offer Starlink Inc.’s satellite internet services in India, a day after rival Bharti Airtel Ltd. unveiled a similar arrangement.

Reliance Industries Q4 Results Live: Reliance Retail's consumer business revenue touched ₹11,500 crore in FY25, becoming the company's fastest growing vertical in India. Reliance, which is present in fast-moving consumer goods (FMCG) segment with Independence, Campa and other brands, is scaling its presence across the country.

"The brands are very, very widely distributed. If we look at some of our key brands like Campa and Independence, they are all growing very rapidly," said Reliance Retail CFO Dinesh Taluja during earnings call. Its soft drink brand Campa has already gained double-digit market share in the key markets where it is available, he said.

"We also continue to add to our portfolio by launching new products and acquiring new brands," Taluja added. In FY25, Reliance's consumer businesses "continued to expand its reach through general trade leading to 3.5X Y-o-Y growth in sales during the period".

Reliance Industries Q4 Results Live: “During FY25, we have laid a strong foundation for our projects in renewable energy and battery operations. In the coming quarters, we will see the transition of this business from incubation to operationalization. I firmly believe that the New Energy growth engine will create significant value for Reliance, for India and for the world,” said Mukesh Ambani.

Reliance Industries Q4 Results Live: JioStar, the joint venture created after the merger of the media business of Reliance and the India business of global media giant Walt Disney, on Friday reported revenues of ₹10,006 crore with pre-tax earnings of ₹774 crore.

JioHotstar, which was launched after the merger of two leading OTT platforms JioCinema and Disney Hotstar on February 14, 2025, crossed 100 million paid user milestone within five weeks, according to earnings statement from Realiance Industries.

"JioHotstar served 503 million MAUs (monthly active users) in the month of Mar '25 driven by key sporting events such as ICC Champions Trophy, IPL and India's largest digital content library of greater than 320K hours," it said.

JioStar's linear TV network occupied 34 per cent of the market share across TV entertainment and reached over 760 million monthly viewers across the country.

Reliance Industries (RIL), the Walt Disney Company and Viacom 18 Media Private had announced the merger of their TV and digital platforms on November 14, 2024. The merged entity, JioStar, has exclusive TV and digital rights for the IPL besides other cricket events and marque tournaments.

Reliance Industries Q4 Results Live: “Our digital services business achieved record revenue and profit numbers. Steady increase in subscriber base, with an improving mix and increasing user engagement metrics boosted earnings. 

Strong adoption of our 5G services and our home broadband offerings continues with accelerated addition in subscribers and in the number of home-connects. Jio continues to invest in innovation, focusing on AI capabilities and next generation technologies, which will shape India’s digital future,” said Mukesh Ambani, Chairman and Managing Director, Reliance Industries.

Reliance Industries Q4 Results Live: Q4 scores of oil & gas segment

-4Q FY25 revenue is lower by 0.4% Y-o-Y mainly on account of lower gas production and lower oil offtake from KGD6, partly offset with improved KGD6 gas price realisation and higher CBM production.

-The average price realized for KGD6 gas was $ 10.09/MMBTU in 4Q FY25 vis-à-vis $ 9.53/MMBTU in 4Q FY24. The average price realised for CBM gas was $ 10.36/MMBTU in 4Q FY25 vis-à-vis $ 14.34/MMBTU in 4Q FY24.

EBITDA declined 8.6% to ₹ 5,123 crore on Y-o-Y basis following higher operating cost due to onetime maintenance activity and a natural decline in KGD6 volumes.

Reliance Industries Q4 Results Live: Oil-to-chemical business, which houses the twin refineries at Jamnagar in Gujarat and petrochemical plants, saw EBITDA fall 10 per cent to ₹15,080 crore in Q4 and 12 per cent in the full fiscal. It made good the fall in cracks or margins by placing more fuel in the domestic market.

In the fuel retail business, Jio-bp - its joint venture with BP of the UK - saw diesel and petrol sales rise by 24.4 per cent and 25.4 per cent respectively in the quarter, the statement said.

Lower gas output from KG-D6 fields led to an 8.6 per cent fall in the pre-tax profit of its oil and gas business to ₹5,123 crore in Q4. "The average KGD6 production for the 4Q is 26.73 million standard cubic metres per day of gas and 19,000 barrels a day of oil," it said.

Reliance Industries Q4 Results Live: Reliance Retail key metrics

-AJIO delivered a steady performance during the period and added 1.9 million new customers. The portfolio was strengthened to 2.4 million options, marking a 44% Y-o-Y growth. 

-Onboarding trendy and market-relevant brands to enhance consumer choices remains a priority, with the share of external brands rising by 11% Y-o-Y.

-AJIO continues to enhance shopping experience for its customers and launched same-day and next day delivery services across 26 cities.

-The flagship event, “All Star Sale”, was successfully executed, adding over 6 lakh new customers during the campaign.

-Shein, with a motto of ‘Global fashion to every Indian at affordable prices’ was launched across the app, website, and Shop-in-Shop on AJIO. Currently 12,000+ options are live on the platform

Reliance Industries Q4 Results Live: Reliance Retail Q4

-Business opened 1,085 new stores during the March quarter.

-Total transactions recorded were at 361 million, up 16.1% Y-o-Y.

-Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited, said “Reliance Retail delivered strong growth in revenue and profits, powered by improved efficiencies, innovative formats, a sharper product mix, and continued investments in technology and customer experience. We remain focused on shaping the future of retail with agility and purpose".

Reliance Industries Q4 Results Live: Reliance Retail in FY25

-Reliance Retail recorded a gross revenue of ₹330,870 crore for the year FY25, a growth of 7.9% over last year.

-The business continued its strong track record of profit growth registering an EBITDA of ₹25,053 crore, higher by 8.6% Y-o-Y for FY25.

-During the year, EBITDA margin on net sales continued to show improvements at 8.6%, up 20 bps Y-o-Y.

-JioMart scaled up its quick hyper local deliveries benefiting from its wide store network presence. The quick hyper local exit daily gross orders in 4Q FY25 grew 2.4x Q-o-Q.

- Consumer brands became fastest growing FMCG company in India; achieved ~ ₹11,450 crore sales in 2nd year of operations.

Reliance Industries Q4 Results Live: Akash M Ambani, Chairman of Reliance Jio Infocomm, said, “Jio continues to drive consistent outperformance in customer engagement with best-in-the-world network technologies and a wide bouquet of digital services for all Indians. 

Jio is proud to have served millions of users at world’s largest congregation of people, the Mahakumbh mela where its network scalability and flexibility was well demonstrated. Jio is working on enabling large scale AI infrastructure and services that will add an intelligence layer to all Jio services.”

Reliance Industries Q4 Results Live: For the year ended March 31, 2025, Jio's PAT grew by about 22 per cent to ₹26,120 crore from ₹21,434 crore in the year-ago period. Revenue from operations of Jio Platforms grew by about 17 per cent to ₹1,28,218 crore in FY25 from ₹1,09,558 crore in FY24.

"JPL revenue increased by 16.9% Y-o-Y led by higher ARPU on account of tariff revisions for mobility services and improving subscriber mix. Strong growth in home connects and scale-up of digital services also contributed to revenue growth," the statement said.

Reliance Industries Q4 Results Live: Reliance Jio Q4 key metrics

-Operating revenue (net of GST) growth driven by impact of tariff revisions for mobility services, and growth in homes and digital services businesses.

-EBITDA growth driven by healthy revenue growth and margin improvement.

-ARPU increased further to ₹206.2 with continued impact of the tariff hike and better subscriber mix partly impacted by lower number of days in the quarter

Reliance Industries Q4 Results Live: Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said: “FY2025 has been a challenging year for the global business environment, with weak macro-economic conditions and a shifting geo-political landscape. Our focus on operational discipline, customer-centric innovation and fulfilling India’s growth requirements has helped Reliance deliver a steady financial performance during the year."

Reliance Industries Q4 Results Live: “Reliance Industries' Q4 results show a mixed performance. Consolidated net profit rose to ₹19,407 crore, with revenue growing 8.7% QoQ to ₹2.61 lakh crore. Jio Platforms (JPL) drove growth with a 16.9% Y-o-Y revenue increase, led by higher ARPU and strong home connects and digital services growth,” said Seema Srivastava, Senior Research Analyst at SMC Global Securities.

"JPL EBITDA grew 16.8% Y-o-Y. The O2C segment saw revenue growth, but margins dipped to 9.2%. Retail business revenue was ₹88,637 crore with a stable EBITDA margin of 7.6%. Overall, the company's performance is stable, with growth in key segments offsetting some profitability impacts," she added.

Reliance Industries Q4 Results Live: EBITDA for its digital services segment, which consists of telecom business Jio, surged 18 per cent, while retail segment EBITDA rose 14 per cent. The oil-to-chemicals segment results were impacted due to significant weakness in transportation fuel cracks, the company said.

Reliance Industries Q4 Results Live: Reliance Industries said in its exchange filing that the board approved raising of funds through issuance of listed, secured / unsecured, redeemable non-convertible debentures up to Rs. 25,000 crore, in one or more tranches, on private placement basis.

Reliance Industries Q4 Results Live: The oil to telecom conglomerate's board recommended a final dividend of Rs. 5.50 per equity share of Rs. 10 each for the financial year ended March 31, 2025, while declaring the March quarter results. The record date for the dividend is not announced yet. 

Reliance Industries Q4 Results Live: The conglomerate's net profit rises two per cent to ₹19,407 crore in the March quarter, compared to ₹18,951 crore. The consolidated revenue from operations in the fourth quarter of FY25 rose to ₹2.61 lakh crore compared to ₹2.36 lakh crore in the year-ago period.

Reliance Industries Q4 Results Live: Reliance Power said it has appointed Neeraj Parakh as Chief Executive Officer. His appointment is effective from Monday for a period of three years, Reliance Power said in an exchange filing.

Parakh's appointment as the company's Executive Director and Chief Executive Officer (CEO) is subject to the approval of members, it said. He is not related to any of the directors of the company. Parakh joined the Reliance Group in June 2004 as an additional manager in the Central Technical Services team at Reliance Infrastructure (Reliance Infra).

Reliance Industries Q4 Results Live: Reliance shares have rallied more than 13% from a low earlier in April, beating the benchmark NSE Nifty 50 Index and shaking off concerns over US President Donald Trump’s trade war. That lifted their valuation to 21 times earnings estimated for the next 12 months, in line with the five-year average.

Analysts have grown more confident even as they expect the Mumbai-based company to report a decline in quarterly net income, with Morgan Stanley pointing to a rise in interest costs and depreciation of expenses in the consumer-focused businesses. Still, the Wall Street bank anticipates earnings will recover for some units and sees revenue from the retail operations rising 10%.

Reliance Industries Q4 Results Live: Sell-side analysts are the most bullish on Reliance Industries Ltd. since 2008, reflecting optimism for a better outlook ahead of earnings due later Friday. More than 92% of the 39 brokerages tracked by Bloomberg have a buy recommendation on the shares of India’s largest privately owned refiner.
 Firms from Macquarie Group Ltd. to Kotak Securities Ltd. have upgraded their rating on billionaire Mukesh Ambani’s flagship firm since January, with analysts highlighting its cheap valuation and a potential recovery after disappointing earnings in six out of the last seven quarters.

Reliance Industries Q4 Results Live: CLSA maintained its bullish stance on the stock. CLSA has an ‘Outperform’ rating on Reliance with a price target of ₹1,650. The brokerage said that the stock is now within 5% of what it calls “conservative value”, but triggers are in place for 2025 that projects a 30% upside for the stock.

Reliance Industries Q4 Results Live: Shares of Reliance Industries settled 0.12 per cent lower at ₹1,300.05 apiece on the BSE. The conglomerate commands a market cap of ₹17,59,276.14 crore. Shares of Reliance have rallied over two per cent in the last five sessions, 1.21 per cent in one month and seven per cent year-to-date (YTD). 

Reliance Industries Q4 Results Live: Going forward, investor attention will be on management commentary around margin outlook, developments in new energy initiatives, the timeline for potential listings of Jio and Reliance Retail, the crude oil price outlook, 5G rollout strategy, retail network expansion, and updates on KG-D6 production trends and future exploration plans.

Reliance Industries Q4 Results Live: The Oil & Gas business is expected to report a 9% YoY drop in EBITDA and an 8% decline QoQ, primarily due to reduced output from the KG-D6 block. This comes despite a 2% YoY increase in deepwater gas prices, which remained flat sequentially.

Reliance Industries Q4 Results Live: “Reliance Industries Q4 results are expected to remain stable. However, operating profit may come under pressure due to higher crude oil prices. The oil and gas business could stay flat, while Jio and the retail segment may post some growth. Overall, it is likely to be a mixed and stable quarter, with no major surprises expected. Markets are pricing in a tepid Q4 performance," said Avinash Gorakshakar, the head of research at Profitmart Securities.

Reliance Industries Q4 Results Live: India's most valued company and also a Nifty 50 heavyweight, will be reporting results for the March quarter later this evening. Analysts are expecting a mixed quarter, where the consolidated Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA)  may remain flat, while tariff hikes can aid  improvement in the Average Revenue Per User (ARPU) of its telecom business.

Reliance Industries Q4 Results Live: Consolidated EBITDA is projected to increase marginally by 0.5% to ₹44,002 crore, versus ₹43,789 crore in Q3FY25, according to Kotak Institutional Equities. However, the EBITDA margin is expected to contract by 38 basis points to 17.9% from 18.2% QoQ.

Reliance Industries Q4 Results Live: Reliance Group's non-banking financial company (NBFC) Jio Financial Services Ltd reported a two-per-cent rise in its consolidated net profit to ₹316.11 crore in the fourth quarter of the financial year 2024-25 (Q4FY25), compared to ₹310.63 crore in the same period a year ago. 

The NBFC announced its first-ever dividend issue of Re 0.50 per share. This means eligible shareholders will receive a dividend of Re 0.50 apiece for every share they own. The record date for the dividend issue will be announced soon after it holds its Annual General Meeting for FY25

Reliance Industries Q4 Results Live: Reliance Industries reported a consolidated net profit of ₹18,540 crore for the third quarter of FY25, up 7.4 per cent from ₹17,265 crore in the same period last year. The company’s consolidated revenue in Q3FY25 increased 6.7 per cent YoY to ₹2.40 lakh crore from ₹2.25 lakh crore, year-on-year (YoY).

At the operational level, Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) during the quarter ended December 2024 grew eight per cent to ₹43,789 crore from ₹40,656 crore, YoY. The EBITDA margin improved by 20 basis points (bps) to 18.3 per cent from 18.1 per cent in the year-ago quarter, on higher refining margins and growth in digital services

Reliance Industries Q4 Results Live: Sell-side analysts are the most bullish on Reliance Industries since 2008, reflecting optimism for a better outlook ahead of Q4 results today. More than 92% of the 39 brokerages tracked by Bloomberg have a buy recommendation on the shares of India’s largest privately owned refiner.

Firms from Macquarie Group Ltd. to Kotak Securities Ltd. have upgraded their rating on billionaire Mukesh Ambani’s flagship firm since January, with analysts highlighting its cheap valuation and a potential recovery after disappointing earnings in six out of the last seven quarters, Bloomberg reported.

Reliance Industries Q4 Results Live: Reliance Industries Q4 results are expected to be mixed, with modest growth anticipated in the telecom and retail segments, while the oil & gas business could face headwinds from elevated crude oil prices. The company’s profit in the January-March quarter of FY25 may fall on the back of weak oil-to-chemicals (O2C) business. However, Reliance Retail and Jio businesses are expected to see some strength and contribute to the overall growth.

Reliance Industries Q4 Results Live: Reliance Industries share price traded higher on Friday ahead of its Q4 results today. The gains in Reliance share price comes despite a sharp fall in the Indian stock market today. Reliance shares opened at ₹1,301.00 apiece as against its previous close of ₹1,301.65 apiece on the BSE. RIL shares hit an intraday high of ₹1,325.25 and an intraday low of ₹1,288.00. At 1:55 PM, Reliance shares were trading 0.41% higher at ₹1,306.95 apiece, commanding a market capitalisation of over ₹17,68,613 crore.

Reliance Industries Q4 Results Live: The board of directors of Reliance Industries will consider raising of funds by way of issuance of listed, secured / unsecured, redeemable non-convertible debentures on private placement basis, in one or more tranches.

Reliance Industries Q4 Results Live: Reliance Industries board will also consider declaration of dividend along with Q4 results today. “The meeting of the Board of Directors of the Company is scheduled to be held on Friday, April 25, 2025, to recommend dividend on equity shares of the Company for the financial year ended March 31, 2025,” Reliance Industries said.

Reliance Industries Q4 Results Live: Reliance Industries Ltd (RIL), the billionaire Mukesh Ambani-led oil-to-telecom conglomerate, is set to report its Q4 results today. Along with the Reliance Q4 results, the company will also declare its earnings for the full financial year ending 31 March 2025.