Reliance Industries Ltd (RIL) has reported an 11.9 per cent increase in net profit at Rs 21,804 crore for the third quarter (Q3) ended December 2024 as against Rs 19,488 crore in the same period a year ago. Net profit attributable to the owners of the company rose by 7.38 per cent to Rs 18,540 crore for Q3 as against Rs 17,265 crore last year. Gross revenue rose by 7.7 per cent to Rs 267,186 crore for the third quarter as against Rs 248,160 crore a year ago. Its digital arm Jio Platforms (JPL) posted a 19.2 per cent rise in revenue to Rs 38,750 crore due to continuing flow through of tariff revisions for mobility services, and healthy growth in homes and digital services businesses. JPL’s net profit rose 26 per cent to Rs 6,861 crore for the third quarter. Reliance Retail Ventures Ltd has posted a 10 per cent increase in net profit to Rs 3,458 crore for Q3 and a revenue at Rs 90,333 crore, up 8.8 per cent amid growth across consumption baskets driven by festive buying and wedding season. RIL Chairman and MD Mukesh D. Ambani said, “it gives me great pleasure to see Reliance grow exponentially over the years and set new benchmarks that demonstrate the inherent strength and resilience we have across all our businesses. The delivery of record EBITDA and PAT at a consolidated level for this quarter is a testament to this.” Ambani said robust growth in digital services business was led by sustained subscriber addition and consistent improvement in customer engagement metrics. “This was well supported by a favourable subscriber mix, with an increasing number of users upgrading to 5G networks. Jio’s compelling offering of home broadband services also continued to rapidly gain ground and maintain its pre-eminent market position,” he said. “A superior understanding of customer needs and preferences enables Reliance Retail to serve a wide variety of demographic profiles with the right product, at the right time, through the right channel.,” Ambani said.
