Reliance Industries Q4FY25 profit rises 6.4% to Rs 22,611 crore; full-year revenue crosses Rs 10.7 lakh crore

However, tax expenses edged up 1.4 percent YoY to Rs 6,669 crore, the company said in a filing on Friday.

Revenue up 8.8% in Q4

The company’s revenue for Q4FY25 rose 8.8 percent YoY to Rs 2.88 lakh crore, driven by double-digit growth in Jio Platforms, Reliance Retail and the oil-to-chemicals (O2C) business.

Operating profit (EBITDA) increased by 3.6 percent YoY to Rs 48,737 crore, although the EBITDA margin narrowed to 16.9 percent from 17.8 percent in the year-ago quarter. Depreciation stood steady at Rs 13,479 crore, while finance cost rose 6.8 percent YoY to Rs 6,155 crore due to higher average liabilities.

Digital business: Jio Platforms

Jio Platforms reported another strong quarter with net profit surging 25.8 percent YoY to Rs 7,023 crore, and revenue up 17.8 percent to Rs 39,853 crore. The company attributed the growth to tariff hikes in mobility, and gains in its homes and digital services businesses.

EBITDA grew 18.5 percent YoY to Rs 17,016 crore, aided by a 40 bps margin expansion. Jio’s subscriber base crossed 48.8 crore, while ARPU rose 13.5 percent YoY to Rs 206.2, boosted by the pass-through of tariff revisions.

Retail: Broad-based growth

Reliance Retail posted a 30.4 percent YoY jump in profit to Rs 3,519 crore, while revenue rose 15.7 percent to Rs 88,620 crore in Q4, on the back of growth across consumption categories.

EBITDA rose 14.3 percent to Rs 6,711 crore, though the margin eased to 8.5 percent from 8.7 percent a year ago. The total store count stood at 19,340 outlets as of March 2025, up from 18,836 in March 2024.

Oil-to-Chemicals: Margin squeeze despite higher revenue

Revenue from the O2C segment rose 15.4 percent YoY to Rs 1.64 lakh crore, supported by higher volumes and improved domestic product penetration. Exports rose 2.2 percent to Rs 73,749 crore.

However, EBITDA fell 10 percent YoY to Rs 15,080 crore, due to weaker fuel cracks and soft polyester chain margins, though this was partially cushioned by better volume and feedstock optimisation.

Total throughput for the quarter rose 2.5 percent YoY to 20.3 million metric tonnes (MMT), with production for sale increasing 4.7 percent to 17.9 MMT.

Oil & Gas: EBITDA down on higher costs, volume decline

Revenue from the oil and gas segment declined 0.4 percent YoY to Rs 6,440 crore, as lower gas output and reduced oil offtake from the KGD6 basin offset the benefits of higher realised gas prices and increased CBM output.

EBITDA dropped 8.6 percent to Rs 5,123 crore, hit by one-time maintenance expenses and natural field decline. Production from KGD6 fell 10.8 percent to 63.7 billion cubic feet equivalent (BCFe), while CBM production jumped 28.6 percent to 2.7 BCFe.

Full-year performance: Record revenue, profit

For FY25, Reliance reported record consolidated revenue of Rs 10.71 lakh crore, up 7.1 percent YoY, and a record EBITDA of Rs 1.83 lakh crore, a 2.9 percent increase over the previous fiscal.

Net profit for the year rose 2.9 percent to Rs 81,309 crore, while EBITDA margin slipped to 17.1 percent from 17.8 percent.

Chairman Mukesh Ambani said the company had “laid a strong foundation” for its new energy and battery ventures, and expects these businesses to transition from incubation to operations in the coming quarters. “The New Energy growth engine will create significant value for Reliance, for India and for the world,” he said.

JioStar Business: Digital content push

The JioStar business, comprising JioHotstar and television broadcasting, reported FY25 profit of Rs 229 crore on revenue of Rs 10,006 crore, with EBITDA at Rs 774 crore.

JioHotstar served 503 million monthly active users (MAUs) in March 2025, buoyed by the ICC Champions Trophy, IPL, and India’s largest digital content library. The JioStar TV network reached over 76 crore monthly viewers, commanding a 34 percent market share in TV entertainment.

Dividend, fund raising and capex

The company’s board recommended a dividend of Rs 5.5 per share for FY25. It also approved a plan to raise up to Rs 25,000 crore via non-convertible debentures through private placement.

Capital expenditure in Q4FY25 stood at Rs 36,041 crore, up from Rs 23,207 crore in Q4FY24. For the full year, capex was Rs 1.31 lakh crore, marginally lower than Rs 1.32 lakh crore in FY24.

Cash and cash equivalents rose to Rs 2.3 lakh crore, while net debt remained largely unchanged at Rs 1.17 lakh crore as of March 2025.