Jio Subscriber Additions
9.2M
+9.2M QoQ
Net customer additions in Q1 FY24, driven by 5G rollout and network leadership.
RELIANCE
Conglomerate
21 Jul 2023
Reliance Industries Ltd — Q1 FY24
Reliance Industries reported consolidated EBITDA of INR 42,000 crore, up 5.1% YoY, driven by strong performance in Jio (+17%), retail (+34%), and upstream (+47%), offsetting a 23% decline in O2C due to normalization from an exceptional base.
Financial stats pending filing verification
2-Minute Summary
✦ AI-Generated from Full Transcript
Reliance Industries reported consolidated EBITDA of INR 42,000 crore, up 5.1% YoY, driven by strong performance in Jio (+17%), retail (+34%), and upstream (+47%), offsetting a 23% decline in O2C due to normalization from an exceptional base. Net profit fell 6% to INR 18,258 crore on higher depreciation and finance costs. Jio added 9.2 million subscribers, with ARPU rising 2.8% to INR 180.5, while retail saw 19% revenue growth and 34% EBITDA growth. The 5G rollout is ahead of schedule, targeting pan-India completion by December 2023. KG-D6 gas production is ramping up to 30 MMSCMD. Key risk: sustained weakness in global petrochemical margins and potential OPEC+ production cuts could pressure O2C earnings.
रिलायंस इंडस्ट्रीज का कुल कमाई (EBITDA) 42,000 करोड़ रुपये रहा, जो पिछले साल से 5.1% ज़्यादा है। यह बढ़ोतरी जियो (+17%), रिटेल (+34%) और अपस्ट्रीम (+47%) के अच्छे प्रदर्शन से हुई, जबकि O2C कारोबार में 23% गिरावट आई क्योंकि पिछले साल का असाधारण आधार खत्म हुआ। शुद्ध मुनाफा 6% घटकर 18,258 करोड़ रुपये रहा, क्योंकि डेप्रिसिएशन और ब्याज खर्च बढ़ा। जियो ने 92 लाख नए ग्राहक जोड़े और प्रति ग्राहक कमाई (ARPU) 2.8% बढ़कर 180.5 रुपये हुई। रिटेल में कमाई 19% और EBITDA 34% बढ़ा। 5G रोलआउट तय समय से पहले है और दिसंबर 2023 तक पूरे देश में पूरा होने की उम्मीद है। KG-D6 से गैस उत्पादन बढ़कर 30 MMSCMD हो रहा है। मुख्य जोखिम: दुनिया भर में पेट्रोकेमिकल मार्जिन कमज़ोर रहने और OPEC+ द्वारा उत्पादन कटौती से O2C कमाई पर दबाव पड़ सकता है।
Key Numbers
Jio ARPU
INR 180.5
+2.8% YoY
Average revenue per user per month, driven by higher data consumption.
Retail Footfalls
249M
+42% YoY
Quarterly footfalls across Reliance Retail stores, indicating strong customer engagement.
KG-D6 Gas Production
28.5 MMSCMD
+18% YoY
Current production level, on track to reach 30 MMSCMD in FY24.
Management Guidance
Pan-India 5G rollout completion by December 2023
Management confirmed the 5G rollout is ahead of schedule and will be completed before end of calendar year 2023.
Management guidance expansionKG-D6 gas production target of 30 MMSCMD in FY24
Production is ramping up and expected to reach 30 million standard cubic meters per day during FY24.
Management guidance growthJioBharat device deployment of 1 million units
Initial deployment of about a million JioBharat devices through own offering and OEM partners to target 2G-to-4G migration.
Management guidance growthHome broadband target of 100 million homes
Accelerating home broadband ambitions to connect 100 million homes in the quickest possible timeframe using JioFiber and JioAirFiber.
Management guidance expansionKey Risks
O2C margin pressure from global oversupply
Petrochemical margins remain weak due to China supply overhang and subdued global demand, with PVC deltas down 35% YoY.
high · management_commentaryElevated crude prices from OPEC+ cuts
Voluntary oil production cuts by OPEC+ could keep crude prices elevated, potentially impacting demand and refining margins.
medium · management_commentaryHigher finance costs and depreciation
Net profit declined 6% YoY despite EBITDA growth, driven by higher depreciation and finance costs from accelerated capex.
medium · data_observationLNG price volatility and gas realization risk
Global LNG prices have declined due to high storage and sluggish demand, potentially impacting KG-D6 realizations despite long-term contracts.
medium · management_commentaryNotable Quotes
We are on track to complete what is going to be the 5G rollout anywhere in the world, creating a pan-India coverage for a large country like India within just over 1 year.
This is a unique go-to-market approach, where we have designed this instrument, which can be delivered at under INR 1,000 price point with respect to the phone.
The profit after tax crossed INR 5,000 crores for the first time for JPL consolidated.
Frequently Asked Questions
What was Reliance's revenue in Q1 FY24?
Reliance reported revenue of — in Q1 FY24, representing a — change compared to the same quarter last year.
What guidance did Reliance management give for FY25?
Pan-India 5G rollout completion by December 2023: Management confirmed the 5G rollout is ahead of schedule and will be completed before end of calendar year 2023. KG-D6 gas production target of 30 MMSCMD in FY24: Production is ramping up and expected to reach 30 million standard cubic meters per day during FY24. JioBharat device deployment of 1 million units: Initial deployment of about a million JioBharat devices through own offering and OEM partners to target 2G-to-4G migration. Home broadband target of 100 million homes: Accelerating home broadband ambitions to connect 100 million homes in the quickest possible timeframe using JioFiber and JioAirFiber.
What are the key risks for Reliance in FY25?
Key risks include O2C margin pressure from global oversupply — Petrochemical margins remain weak due to China supply overhang and subdued global demand, with PVC deltas down 35% YoY.; Elevated crude prices from OPEC+ cuts — Voluntary oil production cuts by OPEC+ could keep crude prices elevated, potentially impacting demand and refining margins.; Higher finance costs and depreciation — Net profit declined 6% YoY despite EBITDA growth, driven by higher depreciation and finance costs from accelerated capex.; LNG price volatility and gas realization risk — Global LNG prices have declined due to high storage and sluggish demand, potentially impacting KG-D6 realizations despite long-term contracts..
Did Reliance meet its previous quarter's guidance?
Scorecard data is being built as historical quarters are processed.
Where can I read the full Reliance Q1 FY24 concall transcript?
The full earnings conference call transcript or source release is available on the linked source material. This page provides an AI-generated summary with filing verification status shown on the financial stats.