Tue Oct 15 13:56:09 UTC 2024: ## Reliance Industries Reports Strong Q2 Results, Jio Platforms Sees Profit Surge

**Mumbai, India** – Reliance Industries Ltd (RIL) has announced robust financial results for the second quarter of FY25, with net profit reaching Rs 16,563 crore. The company’s strong performance was driven by growth in its various segments, including oil & gas, retail, and digital services.

**Oil & Gas Segment Sees Growth:** The Oil & Gas segment recorded an 11% year-on-year increase in EBITDA, reaching Rs 5,290 crore. The segment also saw improved EBITDA margins, rising to 85% from 72% year-on-year.

**Retail Segment Thrives:** Reliance Retail reported strong sales growth, particularly in the first two weeks of October, driven by the upcoming festival season. The company opened 464 new stores, bringing its total store count to 18,946.

**Jio Platforms Reports 23.4% Profit Increase:** Jio Platforms, the digital services arm of RIL, announced a 23.4% increase in quarterly profit, reaching Rs 6,539 crore. This growth was driven by a tariff hike and the expansion of home and digital services.

**Jio Infocomm Sees 12% Profit Growth:** Reliance Jio Infocomm, India’s largest telecom operator by subscriber base, reported a quarterly profit of Rs 5,445 crore, a 12% increase from the same period last year. The company’s average revenue per user (ARPU) rose by 7.4%, reaching Rs 195.1, attributed to the tariff hike and an improved subscriber mix.

**Ambani Highlights Future Plans:** Mukesh Ambani, Chairman and Managing Director of Reliance Industries, highlighted the company’s commitment to expanding its retail presence and its focus on digital empowerment across India. He also emphasized the progress of the company’s New Energy Giga-factories, which are on track to begin production of solar PV modules by the end of the year.

Overall, Reliance Industries continues to demonstrate strong financial performance across its diverse business portfolio, solidifying its position as a leading Indian conglomerate. The company’s focus on innovation and expansion in key sectors positions it for continued growth in the future.

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