Reliance Industries Ltd (RIL) on Monday videotaped a 4.78 percent decrease in its combined internet revenue throughout the 2nd quarter of the continuous fiscal year 2024-25 (Q2 FY25). During the quarter under evaluation, the firm’s internet revenue came with Rs 16,563 crore as versus Rs 17,394 crore in the year-ago duration.
RIL’s overall earnings climbed 0.65 percent to Rs 2,40,357 crore from Rs 2,38,797 crore in the matching quarter in 2014.
The Mukesh-Ambani led company stated its gross earnings stayed steady year-on-year (YoY) at Rs 2,58,027 crore ($ 30.8 billion).
“Reliance once again demonstrated the resilience of its diversified business portfolio. Our performance reflects robust growth in Digital Services and Upstream business. This helped partially offset weak contribution from O2C business which was impacted by unfavorable global demand-supply dynamics,” Ambani stated.
“Oil-to-chemicals (O2C) revenue improved with higher volumes and increased domestic placement of products. Digital services revenue increased with the impact of revised telecom tariffs for mobility services and scale-up of homes and digital services businesses. Lower gas price realizations led to 6% lower revenue in the oil and gas segment,” RIL specified in a launch.
EBITDA (revenues prior to rate of interest, tax obligations, devaluation, and amortisation) reduced by 2 percent YoY to Rs 43,934 crore ($ 5.2 billion). “EBITDA for Jio Platforms Ltd increased 17.8 per cent YoY due to better subscriber mix, digital services scale-up and revision in telecom tariffs,” it additionally stated.
The firm’s capital investment (capex) for the quarter finished September 30, 2024, came with Rs 34,022 crore ($ 4.1 billion).
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