Reliance Industries Ltd (RIL) announced its financial results for the fourth quarter of FY24, reporting a robust performance across key verticals such as oil-to-chemicals (O2C), telecom (Jio), and retail. The company’s consolidated net profit stood at ₹21,243 crore, reflecting an impressive 0.1% year-on-year growth. Revenue from operations came in at ₹2.41 lakh crore, marking a 10.8% increase compared to the same period last year, demonstrating the strength of its diversified business model.
The O2C segment showed a strong recovery, backed by improved margins in transportation fuels. Meanwhile, Reliance Jio, the company’s telecom arm, posted steady growth with increased subscriber additions and higher average revenue per user (ARPU), further solidifying its market leadership. Reliance Retail also delivered a strong performance, with a 11.7% year-on-year rise in revenue, driven by store expansion and festive season sales.
Additionally, the company’s oil and gas segment reported its highest-ever quarterly earnings, boosted by higher gas production from the KG-D6 basin. Management highlighted that the expansion projects underway in both new energy and digital services are progressing well, positioning Reliance Industries for future growth.
Following the results, Reliance’s share price showed stable movement as investors weighed the steady operational performance against the broader market conditions. Analysts maintain a positive outlook on Reliance Industries, citing strong fundamentals and diversified revenue streams.