Reliance Profit Jumps 41% as Quarterly Revenue Hits Record

Reliance Industries reported net profit of ₹25,548 crore for the July-to-September quarter, up 41% from a year earlier, according to The Economic Times. Revenue reached a record ₹3.62 lakh crore, while earnings before interest, tax, depreciation and amortisation rose 24% to ₹62,409 crore. The figures show a sharp lift across the group, but not every business shared equally in it. ^2,5

The record revenue came as the oil-to-chemicals business had its strongest quarter, with revenue of ₹2.31 lakh crore. Earnings rose nearly 68% from a year earlier to ₹25,203 crore. Higher refining margins and stronger chemical prices helped, as global supply problems tightened crude and fuel markets. Jio Platforms also grew: revenue rose 11.3% to ₹47,485 crore, and its average monthly revenue per user reached ₹218.8. ^3,7

Jio Platforms’ growth came alongside a weaker retail result. Reliance Retail’s gross revenue rose 6.4% to ₹91,716 crore, but its profit fell about 24% to ₹2,619 crore. The company linked the drop in earnings to spending on online sales, higher costs it covered for customers, and major festivals falling in the next quarter. The contrast shows how Reliance’s mix of energy, telecom and retail can cushion weakness in one area, while leaving each business exposed to different pressures. ^8,12

That mix also frames Reliance’s next financing move. Its board approved raising up to ₹15,000 crore through non-convertible debentures, a form of borrowing, in one or more private sales. The company reported capital spending of ₹38,153 crore during the quarter, including work on oil-to-chemicals and new-energy projects. The approved debt sale gives Reliance another way to fund its plans, but the board has yet to set out the tranches. ^5,16