Reliance Q2 Results 2024: Profit Falls by 2.8%

Reliance Q2 Results FY25 posted a 2.8% YoY fall in its consolidated net profit. India’s biggest company in terms of market capitalization opened at ₹2,717.05 per share price on October 15, 2024 from the previous day’s close of ₹2,745.05. Reliance Q2 results 2024 date​ is October 14. So, let’s go through all the details of the oil-to-telecom conglomerate Q2 quarterly earnings of FY25.

Key Highlights of the Reliance Q2 Results FY25

Reliance Industries Q2 results highlighted an increase in revenue but a fall in profit on a year-on-year basis in FY25.

1. Revenue at ₹2,58,027 crores, up 0.8% YoY and up 0.1% QoQ
2. EBITDA at ₹43,934 crores, down 2% YoY and up 2.8% QoQ
3. PAT at ₹19,323 crores, down 2.8% YoY and up 10.8% QoQ

Reliance Industries Q2 Results: Jio Platforms Limited

1. Revenue at ₹37,119 crores, up 17.7% YoY
2. EBITDA at ₹15,931 crores, up 17.8% YoY
3. PAT at ₹ 6,536 crores, up 23.4% YoY
4. ARPU (Average revenue per user) at ₹195.1, up 7.4% YoY
5. Subscribers at 478.8 million, up 4.2% YoY

Jio Platforms Limited Performance Q2 FY25

• Revenue growth was due to the scaling of digital services and recent tariff hikes.
• The addition of subscribers and a limited amount of SIM consolidation.
• 148 million subscribers migrated to Jio True5G and contributed around 34% of the wireless data traffic.
• Data traffic rose by 24% YoY at 45 billion GB.
• Jio is the fastest-growing fixed wireless operator globally (the largest 5G operator outside China) with over 2.8 million AirFiber connections.

Reliance Industries Q2 Results: Reliance Retail Ventures Limited

1. Revenue at ₹76,302 crores, down 1.1% YoY
2. EBITDA at ₹5,850 crores, up 0.3% YoY
3. PAT at ₹2,935 crores, up 5.2% YoY
4. Store count at 18,946, up 1.6% YoY
5. Footfalls at 297 million, u 14.2% YoY

Reliance Retail Ventures Limited Performance Q2 FY25

• Fall in revenue due to weak demand in fashion and lifestyle business and more focus on streamlining operations and B2B segment.
• Focus on scaling up fast hyperlocal deliveries in the pan-India store network.
• AJIO product catalog increased by over 25% YoY and it added over 1.8 million new customers in the Q2 of FY25.
• Opening of the 464 new stores in the second quarter of FY25.
• Digital Commerce and New Commerce contributed to 17% of total revenue earned.
• The network of Digital stores crossed 650 stores.
• In the grocery segment, Smart Bazaar and Smart stores have also experienced growth.

Reliance Q2 Results: Oil to Chemicals (O2C) Segment

1. Revenue at ₹1,55,580 crores, up 5.1% YoY
2. EBITDA at ₹12,413 crores, down 23.7% YoY
3. Throughput (MMT) at 20.2, up 1% YoY

O2C Segment Performance Q2 FY25

• Rise in revenue due to increase in volumes and domestic placement of products.
• EBITDA fell due to unfavorable global demand-supply balance. There is a decline in transportation fuel cracks and a 9.24% fall in downstream chemical deltas.
• Operational flexibility helped in reducing the impact of the decline in ethane price.

Reliance Industries Q2 Results: Oil and Gas Segment

1. Revenue at ₹ 6,222 crores, down 6% YoY
2. EBITDA at ₹5,290 crores, up 11% YoY
3. KG D6 Production (BCFe) at 69.3, up 1.5% YoY
4. CBM Production (BCF) at 2.6, up 23.8% YoY

Oil and Gas Segment Performance Q2 FY25

• Fall in revenue due to lower price realization which is combined with an increase in gas and condensate volumes in KGD6 and CBM fields.
• EBITDA growth because of an increase in volume growth from the KG D6 block and improved CBM output.

Reliance Industries Q2 Results: Media Business

1. Revenue at ₹2,118 crores, down 2.1% YoY
2. EBITDA at ₹55 crores, up 277.41% YoY
3. PAT at -₹188 crores, down by 21.3% YoY

Media Business Performance Q2 FY25

• JioCinema is the fastest-growing subscription-based OTT platform and its subscriber base grew by 2 times from Q1 FY25 to Q2 FY25, totaling over 16 million paid subscribers.
• The successful merger of TV18 Broadcast Ltd. (TV18) and e-Eighteen.com Ltd. (E18) into Network18, thereby forming India’s largest omnichannel news media powerhouse.

Conclusion

Reliance Industries Q2 results​ for FY25 highlight that the rise in the digital services business was offset by the fall in the O2C segment due to unfavorable demand-supply. For the retail segment, more focus is on improving consumer experience, and the digital segment posted strong growth in ARPU and scaling up of home businesses. The robust cash flows and covering of capital expenditure by cash profits is also a positive sign. Keep exploring stocks and open demat account with SMC Global Securities. Stay tuned for all the Nifty 50 companies’ quarterly results.

References

https://rilstaticasset.akamaized.net/sites/default/files/2024-10/RIL-2Q-FY25-Analyst-Presentation-14Oct24.pdf
https://rilstaticasset.akamaized.net/sites/default/files/2024-10/14102024-Media-Release-RIL-Q2-FY2024-25-Financial-and-Operational-Performance.pdf

Author: All Content is verified by SMC Global Securities.