Reliance Industries, led by Mukesh Ambani, announced its Q3 results for 2024 with a 7.38% increase in consolidated net profit and a 7.8% jump in consolidated EBITDA as compared to the previous year. The company also reported outstanding debt of ₹3,50,453 Crore and cash and cash equivalents of ₹2,34,988 Crore. Its telecom arm, Jio Platforms, witnessed a 19.2% YoY rise in revenue and a total subscriber base of 48.2 Crore as of December 2024. The company's strong performance reflects its continued growth and stable financial position in the market.
Reliance Industries' Q3 2024 Results: A Comprehensive Review
Introduction
Reliance Industries Limited (RIL), the flagship company of the Reliance Group, is a global conglomerate headquartered in Mumbai, India. Led by billionaire Mukesh Ambani, the company has a diversified portfolio of businesses, including petrochemicals, refining, telecommunications, retail, and renewable energy.
Q3 2024 Financial Performance
On January 20, 2025, Reliance Industries announced its financial results for the third quarter (Q3) of fiscal year 2024. The company reported a 7.38% increase in consolidated net profit to ₹28,511 Crore, primarily driven by higher refining and petrochemical margins. Consolidated EBITDA also rose by 7.8% to ₹42,100 Crore.
Business Highlights
Financial Position
As of December 2024, Reliance's outstanding debt stood at ₹3,50,453 Crore. However, the company's robust cash generation and strong financial discipline allowed it to maintain a healthy cash and cash equivalents balance of ₹2,34,988 Crore.
Outlook
In its earnings call, Reliance expressed confidence in the company's growth prospects. Management highlighted its continued focus on expanding its businesses, reducing debt, and investing in new technologies.
Top 5 FAQs and Answers
1. What factors contributed to Reliance's Q3 2024 performance? A: Higher refining and petrochemical margins, as well as growth in the telecom segment, were key drivers.
2. What is the impact of Jio Platforms' growth on Reliance's overall performance? A: Jio Platforms contributes significantly to Reliance's revenue and plays a crucial role in the company's digital strategy.
3. How is Reliance managing its debt? A: Reliance has maintained a strong cash flow and has been reducing its debt through asset sales and improved profitability.
4. What are Reliance's plans for the future? A: The company plans to continue expanding its core businesses, investing in new technologies, and reducing debt.
5. How did Reliance's Q3 2024 results compare to previous quarters? A: Reliance's Q3 2024 results showed an improvement in both net profit and revenue compared to Q3 2023.
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