Reliance Industries Limited (RIL) reported a healthy financial result for Q4 FY25. The company made close to 10% growth in revenue during the quarter. On similar lines, its profit after tax also went up 6% during the same period. On the back of strong financial growth, Reliance’s stock moved up over 5% today (April 28, 2025).
Key Highlights:
- Reliance Industries reported a 9.9% YoY growth in Q4 FY25 operating revenue to ₹2.64 lakh crore.
- Profit after tax (PAT) grew 6.1% YoY to ₹22,434 crore in Q4 FY25.
- For FY25, total annual revenue rose 7.3% YoY to ₹9.98 lakh crore, and PAT increased 2.7% to ₹80,787 crore.
- 70% of total costs were spent on materials; employee expenses rose 12.7% YoY in Q4.
- Reliance declared a ₹5.5 per share dividend for FY25 (subject to approval).
- Jio Platforms reached 488.2 million subscribers by March 2025, adding 6.1 million in Q4 FY25.
- The company’s market cap mounted to ₹18.45 trillion after Q4 earnings.
Reliance’s Revenue Crosses ₹2.6 Lakh Crore in Q4
Reliance recorded 9.9% YoY growth in revenue from operations to ₹2.64,573 crore or ₹2.64 lakh crore. In the same quarter of the previous year, its operating revenue was at ₹240,715 crore. The company’s total revenue also grew at a similar pace to ₹2.69 lakh crore in Q4 FY25.
| Financials | Q4 FY25 (₹ Cr) | Q4 FY24 (₹ Cr) | YoY Change |
| Operating revenue | 264,573 | 240,715 | 9.9% |
| Total revenue | 269,478 | 245,249 | 9.9% |
| EBITDA | 48,737 | 47,050 | 3.6% |
| PAT | 22,434 | 21,143 | 6.1% |
Source: Company filings
The profits of the company surged 6.1% to ₹22,434 crore during the period as compared to ₹21,143 crore a year earlier (Q4 of FY24). Its EBITDA grew 3.6% to ₹48,737 crore.
Reliance spent nearly 70% of the total cost on the cost of materials, which stood at ₹1.65,128 crore (after adjusting for purchases and changes in inventories). This cost increased by 3.2% during the quarter. Employee benefit expenses of the company grew 12.7% YoY to ₹7,684 crore in Q4 from ₹6,818 crore a year ago.
On an annual basis, Reliance revenue spiked 7.3% to ₹9.98 lakh crore in FY25 in comparison to ₹9.3 lakh crore during the previous fiscal year (FY24). Profits also went up 2.7% to ₹80,787 crore during the year from ₹78,633 crore in FY24. It recorded an operating revenue of ₹9.8 lakh crore and EBITDA of ₹183,422 crore during FY25.
| Financials | FY25 (₹ Cr) | FY24 (₹ Cr) | YoY Change |
| Operating revenue | 980,136 | 914,472 | 7.2% |
| Total revenue | 998,114 | 930,529 | 7.3% |
| EBITDA | 183,422 | 178,290 | 2.9% |
| PAT | 80,787 | 78,633 | 2.7% |
Source: Company filings
Post announcement of the earnings results, Reliance's share price went up over 5% on April 28, 2025.
How does Reliance Make Money?
Reliance Industries Ltd is one of India’s largest and most diversified conglomerates (multi-industry company), it operates across energy, petrochemicals, retail, telecommunications, digital services, and renewable energy.
Oil to Chemicals (O2C): Reliance made ₹1,64,613 crore revenue from its Oil to Chemicals (O2C) vertical. The margins from this vertical dropped significantly, caused by the global slowdown. However, the weak margins were offset by growth in demand for petrol, diesel, etc.
Reliance Retail: The retail vertical was another major contributor to the total collections, which surged 15.6% YoY in Q4. During the quarter, JioMart managed to achieve a 2.4x QoQ growth exit daily gross orders. Reliance also launched Shein to provide global fashion via more than 12,000 options live on the platform.
| Segment Revenue | Q4 FY25 (₹ Cr) | Q4 FY24 (₹ Cr) | YoY Change |
| Oil to Chemicals (O2C) | 164,613.0 | 142,634.0 | 15.4% |
| Oil and Gas | 6,440.0 | 6,468.0 | -0.4% |
| Retail | 88,637.0 | 76,683.0 | 15.6% |
| Digital Services | 40,861.0 | 34,741.0 | 17.6% |
| Others | 19,920.0 | 31,099 | -35.9% |
| Gross revenue | 320,471.0 | 291,625.0 | 9.9% |
| Less: Inter-Segment Transfers | 32,333 | 26,791 | 20.7% |
| Less: GST Recovered | 23,565 | 24,119 | -2.3% |
| Operating revenue | 264,573.0 | 240,715.0 | 9.9% |
Source: Company filings
Digital Services: In Q4, the Digital Services vertical of the company grew 17.6% YoY with a 13.5% average revenue per user (ARPU) growth backed by tariff hike and strong subscriber addition.
As of March 2025, Jio Platforms has a total subscriber base of 488.2 million, with a net addition of 6.1 million in Q4 FY25 and an ARPU of ₹Rs 206.2 per month.
Reliance Industries Stock Price Surges 5%, Announces ₹5.5 Dividend
Following the healthy numbers during the last quarter of FY25, Reliance’s share rose over 5% on April 28, 2025, to over ₹1,370 with a market cap of ₹18.45 trillion.
The company has announced a dividend of ₹5.5 per share for the financial year ending March 2025, which is subject to the approval of the board. To check past dividend data, visit here.
Summary
Founded by Dhirubhai Ambani in 1966, Reliance delivered a strong Q4 FY25 performance with nearly 10% revenue growth and a 6% rise in profit. The growth can be attributed to Oil to Chemicals, Retail, and Digital Services businesses. The company’s share price surged over 5% post-earnings, and it announced a ₹5.5 per share dividend, further boosting investor sentiment. For the full year FY25, Reliance achieved 7.3% revenue growth and expanded its Jio subscriber base to 488.2 million.