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Reliance Q1 FY25 Results: Revenue Up, Mixed Performance Across Segments
Reliance Industries' Q1 2024 results show strong revenue growth of 11.5%, with increased earnings in telecom and retail but a drop in chemicals profits.
by S Samayanka
Updated Jul 20, 2024
Table of Content
Reliance Q1 Results 2024
Reliance Industries Limited (RIL) has shared its financial performance for the first quarter of the fiscal year 2025 (1Q FY25). Here’s a simple breakdown of how the company did in this period, compared to the same quarter last year (1Q FY24).
Revenue Growth
- Gross Revenue: Reliance made ₹257,823 crore ($30.9 billion) in revenue, up 11.5% from the previous year. This increase was due to higher prices in their Oil & Gas business and strong growth in consumer businesses.
Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA)
- Overall EBITDA: The company’s EBITDA was ₹42,748 crore ($5.1 billion), a rise of 2.0% from last year.
-
Segments:
- Jio Platforms Limited (JPL): EBITDA increased by 11.6% due to higher revenue and better operational efficiency.
- Reliance Retail Ventures Limited (RRVL): EBITDA grew by 10.5% because of more store footfalls and improved store operations.
- O2C (Oil to Chemicals): EBITDA fell by 14.3% due to lower profits from gasoline and chemicals.
- Oil and Gas: EBITDA rose by 29.8% thanks to increased production from KG D6.
Expenses
- Depreciation: Increased by 15.5% to ₹13,596 crore ($1.6 billion), driven by more assets and higher usage in various businesses.
- Finance Costs: Slightly up by 1.4% to ₹5,918 crore ($710 million), mainly due to higher interest rates.
- Tax Expenses: Decreased to ₹5,786 crore ($694 million).
- Profit After Tax: Dropped to ₹17,448 crore ($2.1 billion).
Capital Expenditure
- Investment: ₹28,785 crore ($3.5 billion) was spent on capital improvements in this quarter.
Jio’s Performance
- Growth: Jio saw strong growth with 130 million 5G subscribers, accounting for over 31% of its wireless data traffic.
- New Plans: Jio introduced new unlimited plans with a 13%-25% price increase but continued to offer unlimited 5G data at no extra cost for its leading plans.
- New Apps: Launched JioSafe, a secure communication app, and JioTranslate, a multi-language translation app.
- Spectrum: Acquired additional spectrum in June 2024, increasing its total to 26,801 MHz.
- JioAirFiber: Experienced high demand with over 1.1 million new home connections.
Reliance Retail’s Performance
- Revenue: Increased by 8.1% to ₹75,615 crore.
- EBITDA: Grew by 10.5% to ₹5,664 crore, boosted by more store visits and new store openings.
- Stores: Added 331 new stores, reaching a total of 18,918 with a combined area of 81.3 million sq. ft.
- Customer Footfall: Over 296 million, up 18.9% from last year.
- Digital and New Commerce: Expanded with notable partnerships and store formats.
Consumer Goods
- Electronics: Saw good growth in sales of ACs, refrigerators, and TVs.
- Fashion & Lifestyle: Expanded product lines and store formats, with notable growth in AJIO and premium brands.
- Grocery: Continued steady growth, especially in big box formats and Tier 2 cities.
- JioMart: Increased average bill values and expanded its seller base.
What Are Reliance's Future Plans?
Reliance Industries has several exciting plans for the future:
- They want to open more stores and grow their retail business even further. This includes expanding their grocery stores and adding more fashion and digital products.
- Reliance Jio will continue to improve its 5G network. They are also working on new apps and services to enhance customer experience.
- The company plans to invest in new energy projects and upgrade its chemical manufacturing. They want to make their operations more efficient and environmentally friendly.
- Reliance is looking to invest in new technologies and digital platforms to stay ahead in the market.
Reliance Standalone Financial Statement For The Quarter Ended
|
Particulars |
Quarter Ended 30th Jun’24 |
Year Ended 31st Mar’24 |
Quarter Ended 30th Jun’23 |
Year Ended 31st Mar’24 |
|
Income |
||||
|
Value of Sales & Services (Revenue) |
140,202 |
159,306 |
132,222 |
574,956 |
|
Less: GST Recovered |
5,871 |
8,292 |
6,323 |
27,014 |
|
Revenue from Operations |
134,331 |
151,014 |
125,899 |
547,942 |
|
Other Income |
3,502 |
3,497 |
2,728 |
12,128 |
|
Total Income |
137,833 |
154,511 |
128,627 |
560,070 |
|
Expenses |
||||
|
Cost of Materials Consumed |
99,679 |
96,259 |
86,709 |
376,418 |
|
Purchases of Stock-in-Trade |
3,967 |
3,347 |
2,622 |
13,453 |
|
Changes in Inventories of Finished Goods, Work-in-Progress and Stock-in-Trade |
(4,876) |
8,584 |
(421) |
2,700 |
|
Excise Duty |
4,433 |
4,182 |
3,272 |
13,408 |
|
Employee Benefits Expense |
2,156 |
1,946 |
2,115 |
7,807 |
|
Finance Costs |
2,963 |
3,613 |
3,596 |
13,430 |
|
Depreciation / Amortisation and Depletion Expense |
4,708 |
4,856 |
3,883 |
17,690 |
|
Other Expenses |
14,657 |
16,673 |
14,109 |
59,891 |
|
Total Expenses |
127,687 |
139,460 |
115,885 |
504,797 |
|
Profit Before Tax |
10,146 |
15,051 |
12,742 |
55,273 |
|
Tax Expenses |
||||
|
Current Tax |
2,457 |
3,212 |
2,648 |
10,922 |
|
Deferred Tax |
78 |
556 |
467 |
2,309 |
|
Profit After Tax |
7,611 |
11,283 |
9,627 |
42,042 |
|
Other Comprehensive Income |
||||
|
I Items that will not be reclassified to Profit or Loss |
(46) |
(15) |
43 |
(38) |
|
II Income tax relating to items that will not be reclassified to Profit or Loss |
11 |
5 |
(11) |
11 |
|
III Items that will be reclassified to Profit or Loss |
704 |
608 |
1,039 |
63 |
|
IV Income tax relating to items that will be reclassified to Profit or Loss |
(175) |
(147) |
(261) |
7 |
|
Total Other Comprehensive Income (Net of Tax) |
494 |
451 |
810 |
43 |
|
Total Comprehensive Income for the Period |
8,105 |
11,734 |
10,437 |
42,085 |
|
Earnings per Equity Share (Face Value of ₹10/-) |
||||
|
(a.1) Basic (in ₹) |
11.25 |
16.68 |
14.23 |
62.14 |
|
(b.1) Diluted (in ₹) |
11.25 |
16.68 |
14.23 |
62.14 |
|
Paid up Equity Share Capital (Equity Shares of face value of ₹10/- each) |
6,766 |
6,766 |
6,766 |
6,766 |
|
Other Equity excluding Revaluation Reserve |
508,330 |
|||
|
Capital Redemption Reserve/Debenture Redemption Reserve |
1,683 |
1,683 |
1,683 |
1,683 |
|
Net Worth (including Retained Earnings) |
475,972 |
468,357 |
442,014 |
468,357 |
|
Ratios |
||||
|
a) Debt Service Coverage Ratio |
1.02 |
3.41 |
1.01 |
1.84 |
|
b) Interest Service Coverage Ratio |
4.42 |
5.17 |
4.54 |
5.12 |
|
c) Debt Equity Ratio |
0.37 |
0.41 |
0.41 |
0.41 |
|
d) Current Ratio |
1.04 |
1.09 |
1.24 |
1.09 |
|
e) Long Term Debt to Working Capital |
3.93 |
3.47 |
2.42 |
3.47 |
|
f) Bad Debts to Account Receivable Ratio |
- |
- |
- |
- |
|
g) Current Liability Ratio |
0.57 |
0.54 |
0.53 |
0.54 |
|
h) Total Debts to Total Assets |
0.20 |
0.22 |
0.22 |
0.22 |
|
i) Debtors Turnover |
35.37 |
37.66 |
22.22 |
29.57 |
|
j) Inventory Turnover |
7.23 |
7.63 |
6.51 |
7.31 |
|
k) Operating Margin (%) |
6.9 |
9.5 |
10.3 |
9.8 |
|
l) Net Profit Margin (%) |
5.4 |
7.1 |
7.3 |
7.3 |
Reliance Share Price
|
Date |
Share Price |
Change |
Percentage Change |
|
19 Jul, 3:30 pm IST |
3,116.95 INR |
−56.40 INR |
−1.78% |