India’s Reliance reports financial results for Q1 FY25
by ChemOrbis Editorial Team - content@chemorbis.com
India’s Reliance Industries Ltd (RIL) reported a consolidated profit of 151.38 billion rupees ($1.81 billion) for the April-to-June period (Q1FY25), down from 160.11 billion rupees ($1.9 billion) the previous year. The company’s profit also declined from 189.51 billion rupees ($2.2 billion) reported in the last quarter.
Reliance’s EBITDA rose by 2% year-over-year to 427.48 billion rupees ($5.1 billion) for the April-June quarter.
Oil-to-chemicals segment’s revenue grew by 18.1% year-over-year to 1.571 trillion rupees ($18.8 billion). This increase was largely driven by higher product prices, reflecting a roughly 9% rise in Brent crude oil prices, and boosted by increased volumes due to strong domestic demand.
Nonetheless, earnings before interest, taxes, and depreciation (EBITDA) for the oil-to-chemicals segment dropped by 14.3% from a year ago period to 130.93 billion rupees ($1.5 billion), impacted by a 30% decrease in gasoline cracks and lower transportation fuel margins.
Reliance’s EBITDA rose by 2% year-over-year to 427.48 billion rupees ($5.1 billion) for the April-June quarter.
Oil-to-chemicals segment’s revenue grew by 18.1% year-over-year to 1.571 trillion rupees ($18.8 billion). This increase was largely driven by higher product prices, reflecting a roughly 9% rise in Brent crude oil prices, and boosted by increased volumes due to strong domestic demand.
Nonetheless, earnings before interest, taxes, and depreciation (EBITDA) for the oil-to-chemicals segment dropped by 14.3% from a year ago period to 130.93 billion rupees ($1.5 billion), impacted by a 30% decrease in gasoline cracks and lower transportation fuel margins.
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