Reliance Industries Q3 Results: Revenue Rises 4%, Profit Up 12%
The revenue logged by RIL in Q3 is in line with the estimates shared by analysts.
Reliance Industries Ltd. on Thursday posted a 4% sequential climb in its revenue from operations to Rs 2.39 lakh crore for the quarter ended Dec. 31, 2024. This is in line with the consensus estimate of analysts tracked by Bloomberg.
The net profit of the oil-to-telecom conglomerate rose 12% sequentially during the third quarter, on the back of a strong overall performance.
RIL's bottomline during the quarter under review came in at Rs 21,804 crore, according to their exchange filing. This is comparable with the consensus estimate of Rs 18,337 crore of analysts tracked by Bloomberg.
RIL Q3 FY25 Result Highlights (Consolidated, QoQ)
Revenue from operations rose 4% to Rs 2.39 lakh crore from Rs 2.31 lakh crore (Bloomberg estimate: Rs 2.42 lakh crore).
Ebitda up 12% to Rs 43,789 crore from Rs 39,058 crore (Bloomberg estimate: Rs 41,627 crore).
Ebitda margin rose to 18.2% from 16.9% (Bloomberg estimate: 17.2%)
RIL's oil-to-chemicals or O2C business, which contributes over 60% to company's overall revenues, logged a 4% sequential drop on the back of lower exports. However, the operating profit for the segment rose 16% quarter-on-quarter to Rs 14,402 crore from Rs 12,413 crore in the September quarter. Margins for the O2C segment rose to 9.6% from 8% in the previous quarter.
Mukesh Ambani, chairman of Reliance Industries, said the O2C business showcased its innate resilience registering growth during the third quarter despite prolonged period of volatility in the global market.
The gross refining margins recovered during the quarter and the petrochemical deltas exhibited a mixed trend, he said.
The oil production and exploration segment also continue to play a pivotal role in providing the crucial transition fuel to bolster India’s energy security, he said.
The company's outstanding debt rose to Rs 3,50,453 crore in the third quarter of fiscal 2025 from Rs 3,36,337 crore in the second quarter. The cash and cash equivalent for the same period rose to Rs 2,34,988 crore from Rs 2,19,899 crore in the previous quarter.
Net debt dropped marginally to Rs 1,15,465 crore from Rs 1,16,438 crore in the previous quarter.
Segment Earnings
Oil-to-chemicals
The O2C business contributes maximum to the total revenues of the company. But in the third quarter, the revenue for the segment dropped 4% sequentially to Rs 149,595 crore from Rs 155,580 crore on the back of lower exports.
Exports for the quarter fell to Rs 67,672 crore sequentially from Rs 70,631 crore in the September quarter.
However, the operating profit for the segment rose 16% QoQ to Rs 14,402 crore in December quarter from Rs 12,413 crore in the preceding quarter. Margins for the O2C segment rose to 9.6% from 8% in the previous quarter.
Oil and gas
The segmental revenue rose 2.3% QoQ to Rs 6,370 crore from Rs 6,222 crore in the previous quarter. Operating profit or Ebitda for the segment rose 5.2% sequentially to Rs 5,565 crore from Rs 5,290 crore in the preceding quarter.
However, on a year-on-year basis, the segment revenue declined by 5.2% mainly on account of lower volume of gas and condensate in KGD6, and lower realisation for coal bed methane gas and condensate, the company said.
This was partly offset by increase in coal bed methane, or CBM gas volumes and marginal increase in the KGD6 gas price.
The average price realised for KGD6 gas was $9.74/mmBtu in the December quarter versus $9.66/mmBtu a year ago. The average price realised for coal bed methane gas was $10.58/mmBtu in the October-December period as compared to $15.55/mmBtu in the year-ago quarter.
Before the results were declared, RIL shares on Thursday closed 1.31% higher at Rs 1,268.7 apiece on the BSE, compared to a 0.42% climb in the benchmark Sensex.
