Reliance Industries has announced results for the first quarter of FY25, signaling that it had been on a strong growth path. Gross revenue was at Rs 2.57 lakh crore ($30.9 billion), up by 11.5% year-over-year. This increase can be attributed to solid O2C segment performance due to high oil and product prices, together with outstanding volume growth in the oil & gas segment. Further supporting this were the steady expansion of consumer businesses.
EBITDA for the quarter at Rs 42,748 crore ($5.1 billion) was up 2 percent yearon-year. Strong contributions from the oil & gas and consumer segments supported growth, offsetting a weak O2C operating environment.
He said that, under the able leadership of Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries Limited, the company continued to perform well across its diversified portfolio. He focused on the massive contribution of its businesses in accelerating the growth of India's economy through the energy segment and a huge digital and physical distribution network.
He pointed out that the exceptional financial performance of the digital services business continued the positive growth momentum. He said Jio had taken significant steps in the True 5G network, covering 85% of India's capacity, and growing consumer traction for fixed broadband services.
Reliance Retail has also reported its strong financial performance, underpinned by healthy results in every category of consumption. Ambani mentioned how the firm is working relentlessly to strive for the best customer experience through quality products and excellence in service.
Though various disruptions in the O2C business occur because of lesser fuel cracks and other factors that resulted in timid global demand, Ambani has pointed out the resilience of its integrated O2C model for Reliance. He drew attention to steady growth in its oil and gas segment on the back of higher output.
Looking ahead, Ambani updated Reliance's growth in setting up new energy Giga factories as a move toward an integrated green energy ecosystem for sustainable growth in India.
Bottom Line: Reliance Industries Q1 FY25 results firmly reiterate the power of operational capabilities and strategic diversification that set the group strongly for continued growth across major businesses.
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