Indiastockguru Team
Reliance Industries reported muted September Quarter 2024 with 0.8% YoY growth in its gross revenue. The company reported gross revenue of Rs 258,027 crore in Q2FY25. EBITDA margin at 17% fell 50 basis points in Q2FY25. Profit after tax (PAT) at Rs 19,323 crore fell 2.8% YoY in September Quarter 2024. Jio Platforms reported double-digit growth on the back of favourable impact of revised telecom tariffs for mobility services and scale-up of homes and digital services businesses.
According to the management, Jio’s ARPU increased to Rs 195.1 with the partial follow-through of the tariff hike and a better subscriber mix. The full impact of the tariff hike will flow through in the next 2-3 quarters. The engagement levels continued to remain strong with total data and voice traffic increasing by 24% and 6.4% YoY, respectively. Jio has reached 148 million subscribers on True5G in less than two years of launch and continues to be the largest 5G operator outside China. Jio Platforms contribution to the consolidated gross revenue was 14%, Oil to Chemicals segment leads with 60% contribution to the total revenue base.
