RIL Q2 FY25 results: Reliance Industries Ltd (RIL), owned by Mukesh Ambani, announced on Monday a decrease of 5% in its consolidated net profit for the quarter that ended in September 2024, amounting to Rs 16,563 crore. The net profit was Rs 17,394 crore in the year-ago period.
The profit surpassed the ET Now poll estimate, which had projected Rs 15,716 crore, according to an ET report.
In the reporting period, revenue from operations saw a slight increase of 0.2% year-on-year (YoY), reaching Rs 2.35 lakh crore.
The conglomerate, which has interests ranging from oil to telecom, posted an EBITDA of Rs 43,934 crore for the second quarter, marking a year-on-year decline of 2%. EBITDA margins also experienced a drop of 50 basis points, settling at 17%.
During the quarter, finance costs rose by 5% year-on-year, amounting to Rs 6,017 crore ($718 million), mainly attributed to an increase in debt.
This story is being updated