Tue Oct 15 07:41:48 UTC 2024: ## Reliance Industries Reports Q2 Loss, Jio Platforms Sees Profit Surge
**Mumbai, India:** Reliance Industries Limited (RIL), led by Mukesh Ambani, reported a 4.7% decline in net profit for the second quarter of the financial year 2024-25. The company’s net profit fell to ₹16,563 crore, compared to ₹17,394 crore in the same period last year. Despite the profit dip, RIL’s revenue saw a marginal increase of 0.2% to ₹2.35 lakh crore.
However, the company’s overall income saw a slight rise to ₹2.4 lakh crore from ₹2.38 lakh crore in the corresponding quarter of the previous year. The company’s EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) for the quarter stood at ₹43,934 crore, showing a 2% decline year-on-year.
On the other hand, Mukesh Ambani’s Jio Platforms registered a 23.4% increase in its net profit to ₹6,539 crore for the second quarter. This growth was attributed to a rise in Average Revenue Per User (ARPU) to ₹195.1 per month. Jio Platforms’ operating revenue also saw a significant 18% jump to ₹31,709 crore, driven by a 17.7% increase in total revenue to ₹37,119 crore compared to the same period last year.
Following the announcement of these results, RIL’s shares dipped by 1.04% in early trade on Tuesday, reaching ₹2,716.45. This decline resulted in a decrease in the company’s market capitalization to ₹18.42 lakh crore.
**Investors are advised to consult with their financial advisors before making any investment decisions.**
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