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Reliance Industries Ltd (RIL) has achieved a significant milestone by becoming the first Indian company to surpass the Rs 1 lakh crore mark in pre-tax profits, as it announced its earnings for the quarter ending March 31.
The company also reported a record annual consolidated revenue of over Rs 10 lakh crore, driven by continued growth momentum in its consumer and upstream businesses. EBITDA rose by 16.1 percent to Rs 1.79 lakh crore for the fiscal year ended March 31.
Net profit for the fiscal year increased by seven percent to Rs 79,020 crore compared to the previous year.
In the quarterly results, the company reported a net profit of Rs 21,243 crore, surpassing analyst estimates, driven by a recovery in its core oil-to-chemicals (O2C) business. Quarterly revenue stood at Rs 2.41 lakh crore.
Analysts had projected a profit of Rs 18,248 crore on revenue of Rs 2.39 lakh crore, based on an average of 10 brokerage estimates. Consolidated EBITDA rose by 14.3 percent to Rs 47,150 crore for the quarter.
The company’s board approved a dividend payout of Rs 10 per share.
Mukesh D. Ambani, Chairman and Managing Director of Reliance Industries Limited, commented on the results, stating, “Reliance became the first Indian company to cross the Rs 100,000-crore threshold in pre-tax profits.” He highlighted strong demand for fuels globally and limited flexibility in the refining system worldwide, supporting margins and profitability in the O2C segment.
Ambani further mentioned that the performance of the digital services segment has been boosted by the accelerated expansion of the subscriber base, supported by both mobility and fixed wireless services.
Reliance’s four main segments—O2C, Oil & Gas, Retail, and Jio—have all reported robust operating performance.
In the oil-to-chemicals segment, EBIDTA rose by three percent to Rs 16,777 crore, supported by advantageous feedstock sourcing and higher domestic product placement.
The oil and gas business reported a record quarterly EBITDA of Rs 5,606 crore, with revenue rising by 42 percent to Rs 6,468 crore mainly due to higher volumes.
Jio Platforms reported a profit of Rs 5,583 crore for the fourth quarter, driven by strong subscriber additions. The average revenue per user (ARPU) also improved to Rs 181.7 per user per month.
For the retail business, EBITDA rose by 18.1 percent to Rs 5,632 crore, with revenue from operations increasing by 10.6 percent in the quarter. The business expanded its store footprint across various consumption baskets, opening 1,840 stores with a gross area addition of 15.6 million sq. ft.
