Reliance Q4 Results: Consolidated PAT At Rs 19,407 Cr, Ambani Expects New Energy To Create Significant Value

Reliance Industries Q4 Results: Asia's richest man, Mukesh Ambani's behemoth, Reliance Industries, reported healthy Q4FY25 results. The oil and gas giant bagged a consolidated net profit of Rs 19,407 crore in Q4, registering a growth of 4.7% QoQ and 2.41% YoY. Revenue witnessed single-digit growth.

The profitability is attributed to the owners of the company. Reliance's PAT stood at Rs 18,540 crore in Q3FY25 and Rs 18,951 crore in Q4FY24.

In the quarter under review, Reliance posted revenue of Rs 288,138 crore in Q4FY25, registering growth of 8.8% YoY and 7.84% QoQ. The company's revenue stood at Rs 264,834 crore in Q4FY24 and Rs 267,186 crore in Q3FY25. The performance was supported by revenue growth in consumer business and O2C.

During the quarter under review, Oil to Chemicals (O2C) revenue improved by 15.4% Y-o-Y due to increased volumes and a broader domestic product footprint. While Oil and Gas segment revenue decreased by 0.4% due to lower gas production and lower oil offtake from KGD6.

Also, JPL revenue increased by 17.8% Y-o-Y, and RRVL revenue increased by 15.7% Y-o-Y with growth across consumption baskets.

Meanwhile, EBITDA surged by 3.6% YoY to TRs 48,737 crore. In segment-wise performance, JPL EBITDA increased by 18.5% Y-o-Y, while EBITDA of retail business recorded growth of 14.3% Y-o-Y. However, O2C and Oil & Gas EBITDA performance declined by 10% YoY and 8.6% YoY in the Q4.

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."

Ambani added, the Oil to Chemicals business posted a resilient performance despite considerable volatility in energy markets. Significant demand-supply imbalances in downstream chemicals markets have led to multi-year low margins. Our business teams ensured the optimization of integrated operations and feedstock costs to enhance margin capture across value chains. The Oil & Gas business recorded its highest-ever annual EBITDA led by higher production from our KGD6 and CBM blocks.

The billionaire firmly believes that New Energy's growth engine will create significant value for Reliance.

"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 the world," He said.

For FY25, Reliance posted gross revenue of Rs 1,071,174 crore, rising by 7.1% YoY.

Under the topline front, the major drivers for FY25 are:

- 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.

- RRVL revenue increased by 7.9% Y-o-Y led by growth in consumer electronics and grocery consumption baskets.

- Oil to Chemicals (O2C) revenue improved by 11.0% Y-o-Y with higher volumes and increased domestic product placement - Gasoline (+42%), Gasoil (+33%), ATF (+62%).

- Oil and Gas segment revenue increased by 3.2% due to higher volumes from KGD6 and CBM blocks.

Moreover, EBITDA climbed by 2.9% YoY for FY25, to Rs 183,422 crore ($ 21.5 billion). The key drivers were:

- JPL EBITDA increased by 16.8% Y-o-Y driven by strong revenue growth and sustained high EBITDA margin.

- RRVL EBITDA increased by 8.6% Y-o-Y driven by strong productivity gains with recalibration of the store network.

- O2C EBITDA reduced by 11.9% on account of a weak margin environment across transportation fuels and downstream chemical deltas. Earnings were supported by higher volumes, operational flexibility, efficient feedstock sourcing and better capture of domestic margins.

- Oil and Gas segment EBITDA increased by 4.9% tracking higher revenues and improved operating margins.

For the fiscal, the giant's Profit After Tax and Share of Profit/(Loss) of Associates & JVs increased by 2.9% Y-o-Y to Rs 81,309 crore ($ 9.5 billion).