Reliance Q1 EBITDA up 10%, net profit down due to high base
Reliance Industries Ltd (RIL) reported a 22.4% decline in consolidated net profit for the April-June quarter, totaling ₹20,946 crore, primarily due to a high base effect from an exceptional gain last year. Despite this, RIL's earnings before interest, tax, depreciation, and amortisation (EBITDA) rose 10.1% to ₹54,067 crore, with consolidated revenue increasing 24.5% to ₹340,257 crore. Jio Platforms also showed growth, posting a net profit of ₹7,764 crore, up 9.2% year-on-year, and expanding its 5G subscriber base to 285 million users.