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Reliance Industries Q3 Results: Reliance Industries Ltd (RIL), the billionaire Mukesh Ambani-led oil-to-telecom-to-retail conglomerate, has released its earnings for the third quarter of FY25 today, January 16.

The consolidated Reliance Q3 results will include the earnings for the conglomerate’s oil-to-chemical (O2C) business, Reliance Oil & Gas business, Reliance Jio as well as Reliance Retail business.

Relentless growth in the digital services business came from sustained addition of subscribers as well as consistent improvement in customer engagement metrics. This was well supported by a favorable subscriber mix, with the increasing number of users now upgrading to 5G networks. The retail business ably capitalized on the pick-up in consumption amid festive demand during the quarter,” said Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries.

Here are some key takeaways of the Reliance Q3 results 2025:
Reliance Q3 Results (Consolidated)
For the third quarter of FY25, Reliance Industries has reported a consolidated net profit of ₹18,540 crore, up 7.4% from ₹17,265 crore in the same period last year.
The company’s consolidated revenue for Q3FY25 increased 6.7% YoY to ₹2.40 lakh crore from ₹2.25 lakh crore, year-on-year (YoY).

At the operational level, Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) during the the quarter ended December 2024 grew 8% to ₹43,789 crore from ₹40,656 crore, YoY.
The company reported an improvement of 20 basis points in the EBITDA margin to 18.3% from 18.1% in the year-ago quarter, helped by higher refining margins and growth in digital services.

Reliance O2C Q3 Results
Reliance Oil to Chemicals (O2C) business clocked a revenue of ₹149,595 crore in Q3FY25, up 6.0% from ₹141,096 crore in the year-ago period. On a sequential basis, O2C business revenue declined 3.84%. Domestic fuel retailing volume rose sharply with 43.7% growth in MS and 22.8% growth in HSD.
The segment’s EBITDA rose 2.4% YoY to ₹14,402 crore driven by strong volume-led growth and higher polymer deltas.

RIL’s feedstock flexibility, the advantages of ethane cracking over naphtha, and its focus on yield optimization helped to offset the negative impact of unfavorable fuel cracks, the company said.
“The O2C business demonstrated its inherent strength, growing through this extended phase of volatility in the global energy markets. The refining margins had sequentially recovered. Petrochemical deltas trended mixed. The upstream continues to be an essential enabler, providing the all-important transition fuel that supports India’s energy security,” Mukesh Ambani added.

Reliance Jio Platforms Q3 Results
Jio Platforms Ltd (Ltd), the digital services arm of RIL, reported revenue growth of 19.4% YoY to ₹33,074 crore due to continuing flow-through of tariff revisions for mobility services, and healthy growth in homes and digital services businesses.
Net profit of Jio Platform came in at ₹6,861 crore in Q3FY25, up 26% from ₹5,447 crore. EBITDA was up 18.8% to ₹YoY at ₹16,585 crore with a higher subscriber base, improving ARPU, and favorable mix; however, the EBITDA margin came in at 50.1%, a 30 bps decline.

Jio ARPU continued rising during Q3FY25 on a YoY basis, up 12% to ₹203.3, on an essentially sustained impact of the tariff increase and a better mix of subscribers. Net addition during the October-December quarter stood at 3.3 million and monthly churn moderated to 2.0%.
Rapid scale up of 5G adoption and proliferating fixed broadband beyond Tier1 towns over the past year, further strengthens the Digital India mission. Jio will continue to lead the charge in technology innovation by fully embracing the power of AI to create a connected, intelligent future that is truly transformative. This will drive sustained value creation over next many years,” said Akash M Ambani, Chairman of Reliance Jio Infocomm.

Reliance Retail Q3 Results
Reliance Retail revenues for the December 2024 quarter were reported at ₹79,595 crore, a YoY growth of 7% as compared to the corresponding period of ₹74,373 crore last year. Net profit for the December 2024 quarter grew 10% from ₹3,145 crore last year to ₹3,458 crore.
The segment’s EBITDA grew to ₹6,828 crore, up 9.5% from ₹6,238 crore YoY, while the EBITDA margin was increased by 20 bps to 8.6% from 8.4% YoY.

Reliance Retail added 779 new stores. Its total store count stood at 19,102 and area under operation at 77.4 million sq. ft. The quarter recorded footfalls of over 296 million, up 5% YoY. The registered customer base grew to 338 million, making Reliance Retail one of the most preferred retailers in the country, Reliance retail said.

Reliance Retail delivered strong performance during the quarter led by festive buying across consumption baskets. Our focus on offering wide range of products at an attractive price value proposition continues to draw customers to our stores and digital platforms.”. We are creating through JioMart-express deliveries, scheduled deliveries coupled with Milk basket-subscription services, a seamless shopping experience that serves diverse customers across all categories and catchment,” said Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited.

Reliance Oil & Gas Q3 Results
Reliance Oil & Gas business reported a revenue of ₹6,370 crore, a decline of 5.2% from ₹6,719 crore, YoY, mainly on account of lower volume of gas and condensate in KGD6, lower realisation for CBM Gas and Condensate.
The average price realized for KGD6 gas was $ 9.74 per MMBTU in 3QFY25 vis-à-vis $ 9.66 per MMBTU in 3Q FY24. The average price realised for CBM gas was $10.58 per MMBTU in 3Q FY25 vis-à-vis $ 15.55 per MMBTU in 3Q FY24, RIL said.

The segment’s EBITDA declined 4.1% to ₹5,565 crore on YoY basis following lower revenues, while the EBITDA margin dropped by 100 bps YoY to 87.4%.
The average KGD6 Production for the 3Q FY25 is 28.04 MMSCMD of gas and 21,000 bbl / day of Oil / Condensate. The current rate of production is ~27.9 MMSCMD of gas and ~ 20,700 bbl / day of Oil / Condensate, RIL said.

Reliance shares ended 2.83% higher at ₹1,302.35 a piece on the NSE, with a market capitalisation of more than ₹17.16 lakh crore on Thursday.

Summary of Results

– Net Profit: ₹18,540 crore, 7.4% YoY (from ₹17,265 crore).
– Revenue: ₹2.40 lakh crore, 6.7% YoY (from ₹2.25 lakh crore).
– EBITDA: ₹43,789 crore, 8% YoY (from ₹40,656 crore).
– EBITDA Margin: 18.3%, up 20 bps (from 18.1%).

Oil to Chemicals (O2C)
– Revenue: ₹1,49,595 crore, up 6% YoY; sequentially down 3.84%.
– EBITDA: ₹14,402 crore, up 2.4% YoY.
– Domestic Fuel Retail Volume: MS up 43.7%, HSD up 22.8%.

Jio Platforms
– Revenue: ₹33,074 crore, up 19.4% YoY.
– Net Profit: ₹6,861 crore, up 26% YoY (from ₹5,447 crore).
– EBITDA: ₹16,585 crore, up 18.8% YoY; EBITDA margin 50.1% (down 30 bps).
– ARPU: ₹203.3, up 12% YoY.
– Net Subscriber Additions: 3.3 million in Q3.

Reliance Retail
– Revenue: ₹79,595 crore, up 7% YoY (from ₹74,373 crore).
– Net Profit: ₹3,458 crore, up 10% YoY (from ₹3,145 crore).
– EBITDA: ₹6,828 crore, up 9.5% YoY; EBITDA margin 8.6% (up 20 bps).

Operational Highlights:
– New Stores: 779 opened; total stores now at 19,102.
– Footfalls: Over 296 million, up 5% YoY.
– Customer Base: 338 million registered customers.

Oil & Gas
– Revenue: ₹6,370 crore, down 5.2% YoY (from ₹6,719 crore).
– EBITDA: ₹5,565 crore, down 4.1% YoY.
– EBITDA Margin: 87.4%, down 100 bps YoY.

Production:
– KGD6 Gas: Average production at 28.04 MMSCMD.
– Oil/Condensate: ~21,000 barrels/day.

Stock Performance
– Share price ended 2.83% higher at ₹1,302.35 on NSE.
– Market capitalization: ₹17.16 lakh crore.

Key Growth Drivers
– Strong subscriber addition and 5G adoption for Jio
– Festive demand and opening of new stores for Retail
– O2C segment’s steady performance amidst volatility in global energy
– Strategic pricing and cost optimization for Oil & Gas.