{"id":159118,"date":"2024-02-23T06:11:47","date_gmt":"2024-02-23T11:11:47","guid":{"rendered":"https:\/\/44.250.171.167\/?p=159118"},"modified":"2024-02-23T06:11:49","modified_gmt":"2024-02-23T11:11:49","slug":"reliance-industries-limited-q3-fy24-earnings-conference-call-insights","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/reliance-industries-limited-q3-fy24-earnings-conference-call-insights\/","title":{"rendered":"Reliance Industries Limited Q3 FY24 Earnings Conference Call Insights"},"content":{"rendered":"<p><strong>Key highlights from Reliance Industries Limited (RELIANCE) Q3 FY24 Earnings Concall<\/strong><\/p>\n<ul>\n<li><strong>Financial Performance<\/strong>\n<ul>\n<li>Consolidated EBITDA at INR 44,700 crores, up 17% year-on-year.<\/li>\n<li>Net profit at INR 19,641 crores, up 11% year-on-year.<\/li>\n<li>Growth led by strong performance in Retail and Oil and Gas businesses.<\/li>\n<li>Digital Services steady with 1% increase in O2C.<\/li>\n<li>Resilient O2C performance despite major planned maintenance shutdown and weak downstream margin environment.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Retail Growth<\/strong>\n<ul>\n<li>Revenue up 23% and EBITDA up 31% demonstrating operating leverage.<\/li>\n<li>21% higher area operated at nearly 73 million square feet.<\/li>\n<li>40% higher footfalls and addition of 252 stores, totaling 1,549 store adds over past year.<\/li>\n<li>Fast growth of Digital and New Commerce at 19% of total revenues.<\/li>\n<li>Broad-based growth seen across Grocery, Fashion &amp; Lifestyle and Consumer Electronics.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Oil and Gas Production<\/strong>\n<ul>\n<li>Best ever quarterly EBITDA of INR 5,804 crores in Oil and Gas business.<\/li>\n<li>KGD6 production up 73%, now at 30 MMSCMD.<\/li>\n<li>KGD6 contributes 30% of India&#8217;s gas production.<\/li>\n<li>Higher KGD6 production driving 50% increase in Oil and Gas revenue and EBITDA.<\/li>\n<\/ul>\n<\/li>\n<li><strong>5G Network Rollout<\/strong>\n<ul>\n<li>Completed true 5G network rollout across India ahead of schedule.<\/li>\n<li>90 million subscribers have migrated to 5G network.<\/li>\n<li>5G availability 3x and download speeds 2x of nearest competitor.<\/li>\n<li>Subscriber growth at 7.5% vs industry flat at 0.7% showing 5G driving growth.<\/li>\n<li>Net port-ins 2.5x of competitor.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Subscriber Base Growth<\/strong>\n<ul>\n<li>Added 11.2 million net new customers this quarter and 38 million for the year.<\/li>\n<li>Total subscriber base reached 471 million.<\/li>\n<li>5% increase in data usage year-over-year driven by 5G rollout.<\/li>\n<li>Rural subscriber growth now 5.5x of nearest competitor after JioBharat launch.<\/li>\n<li>JioBharat gaining 45% market share in sub-INR 1,000 price segment since launch.<\/li>\n<li>60% of UPI transactions from low-end handsets coming from JioBharat users.<\/li>\n<\/ul>\n<\/li>\n<li><strong>JioBharat Performance<\/strong>\n<ul>\n<li>Accelerating migration from 2G to 4G with JioBharat device.<\/li>\n<li>Priced similarly or cheaper than 2G phones to target captive 2G base.<\/li>\n<li>Seeing strong engagement metrics like live TV and UPI payments from users.<\/li>\n<li>Driving 5.5x higher rural subscriber additions relative to competitors.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Enterprise Business Growth<\/strong>\n<ul>\n<li>Over 80% of large enterprises now Jio customers.<\/li>\n<li>33% of large enterprises using 2+ Jio services beyond just connectivity.<\/li>\n<li>50% higher number of accounts contributing over INR 5 crores in revenues.<\/li>\n<li>Non-network services driving 20% of recent deal wins highlighting growth of digital services.<\/li>\n<\/ul>\n<\/li>\n<li><strong>New Digital Services<\/strong>\n<ul>\n<li>Showcased new solutions in cloud compute, satellite connectivity, gaming, health care and more.<\/li>\n<li>Cloud gaming to expand gaming market by removing need for expensive consoles.<\/li>\n<li>Private 5G allows large campuses to have dedicated 5G installation.<\/li>\n<li>Managed services to provide advisory, implementation and management of digital services.<\/li>\n<\/ul>\n<\/li>\n<li><strong>JioAirFiber Expansion<\/strong>\n<ul>\n<li>Rapidly expanding JioAirFiber across India by leveraging 5G network.<\/li>\n<li>Seeing encouraging customer engagement and usage levels early on.<\/li>\n<li>Per capita usage around 30x higher than even for wireline fiber services.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Grocery Business Growth<\/strong>\n<ul>\n<li>Record footfalls and highest ever single day sale during festival season.<\/li>\n<li>Growing non-food categories to improve margins.<\/li>\n<li>Adding more categories to become one-stop destination.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Fashion Initiatives<\/strong>\n<ul>\n<li>Azorte, Yousta and Swadesh formats showing strong response and scaling up.<\/li>\n<li>AJIO added 1.6 million new customers and grew option count by 38%.<\/li>\n<li>Launched niche site Ajio Luxe and AjioGram for D2C brands.<\/li>\n<\/ul>\n<\/li>\n<li><strong>Outlook<\/strong>\n<ul>\n<li>Gas prices pulled back slightly due to lower ceiling price and weak global demand.<\/li>\n<li>Milder winter in Europe resulting in higher inventories and lower LNG demand.<\/li>\n<li>Short term prices to depend on winter severity, some positive signs in China and Southeast Asia demand.<\/li>\n<li>Growth expectations to moderate from the high 30% levels seen in recent quarters.<\/li>\n<li>Seeing revenue growth and margin expansion across Jio, Retail and O2C.<\/li>\n<li>Strong domestic consumer and energy demand outlook.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Key highlights from Reliance Industries Limited (RELIANCE) Q3 FY24 Earnings Concall Financial Performance Consolidated EBITDA at INR 44,700 crores, up 17% year-on-year. Net profit at INR 19,641 crores, up 11% year-on-year. Growth led by strong performance in Retail and Oil and Gas businesses. Digital Services steady with 1% increase in O2C. Resilient O2C performance despite [&hellip;]<\/p>\n","protected":false},"author":1767,"featured_media":154818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[9825,6351,392,5746,5753],"tags":[8190,10169,2021,9954,316],"class_list":["post-159118","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-call-highlights","category-consumer-stocks","category-earnings","category-energy-stocks","category-industrials","tag-consumer","tag-earnings","tag-oil-gas","tag-petroleum","tag-telecom"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":155907,"url":"https:\/\/alphastreet.com\/india\/reliance-industries-limited-q2-fy24-earnings-conference-call-insights\/","url_meta":{"origin":159118,"position":0},"title":"Reliance Industries Limited Q2 FY24 Earnings Conference Call Insights","author":"Praveen","date":"November 7, 2023","format":false,"excerpt":"Key highlights from Reliance Industries Limited (RELIANCE) Q2 FY24 Earnings Concall Financial Performance Q2 EBITDA reached record INR45,000 crores, up 30% YoY. Net profit grew 30% YoY to INR20,000 crores. Growth seen across consumer business, digital services, O2C and oil & gas. Retail Business Growth Retail revenues grew 19% YoY\u2026","rel":"","context":"In &quot;Concall Highlights&quot;","block_context":{"text":"Concall Highlights","link":"https:\/\/alphastreet.com\/india\/category\/earnings-call-highlights\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/10\/CC_Image_1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":169798,"url":"https:\/\/alphastreet.com\/india\/reliance-industries-ltd-q1-fy26-earnings-results-76-rise-in-profits\/","url_meta":{"origin":159118,"position":1},"title":"Reliance Industries Ltd Q1 FY26 Earnings Results &#8211; 76% rise in Profits","author":"Chirag Gupta","date":"August 6, 2025","format":false,"excerpt":"Reliance was founded by Dhirubhai Ambani and is now promoted and managed by his elder son, Mukesh Dhirubhai Ambani. Ambani's family has about 50% shareholding in the conglomerate. Presenting below are its Q1 FY26 earnings. \u00a0 Q1 FY26 Earnings Summary Consolidated Revenue:\u00a0\u20b92,73,252 crore, up 6% year-over-year (YoY). Revenue from Operations:\u2026","rel":"","context":"In &quot;AlphaGraphs&quot;","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"Reliance Industries Q1 FY26 Earnings Results","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-3.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-3.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-3.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-3.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-3.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2025\/08\/3-3.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":135062,"url":"https:\/\/alphastreet.com\/india\/reliance-industries-reliance-posts-robust-q2-fy2023-driven-by-diversified-earnings-streams-despite-energy-markets-headwinds\/","url_meta":{"origin":159118,"position":2},"title":"Reliance Industries (RELIANCE): Posts Robust Q2 FY2023 Driven by Diversified Earnings Streams Despite Energy Markets Headwinds","author":"Priti_Ramgarhia","date":"October 24, 2022","format":false,"excerpt":"Reliance Industries Ltd (NSE: RELIANCE) reported mixed financial results for Q2 FY2023 (ended September 30, 2022). Revenue surpassed expectations, while earnings disappointed. In anticipation of mixed results, investors seem cautious about the company, reflecting a more than 1% fall in shares at Friday\u2019s close, prior to the earnings release. Revenues\u2026","rel":"","context":"In &quot;Earnings&quot;","block_context":{"text":"Earnings","link":"https:\/\/alphastreet.com\/india\/category\/earnings\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/Reliance-1.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/Reliance-1.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/Reliance-1.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/Reliance-1.jpg?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":134975,"url":"https:\/\/alphastreet.com\/india\/reliance-industries-q2-earnings-preview-what-to-expect\/","url_meta":{"origin":159118,"position":3},"title":"Reliance Industries Q2 Earnings Preview: What to Expect?","author":"Priti_Ramgarhia","date":"October 20, 2022","format":false,"excerpt":"Mumbai-based Indian multinational conglomerate company Reliance Industries Limited (NSE: RELIANCE) will release its financial results for the second quarter of Fiscal 2023 on October 21, after the market close. 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Ltd Q3 FY24 Earnings Conference Call Insights","author":"Praveen","date":"February 15, 2024","format":false,"excerpt":"Key highlights from Indian Railway Catering and Tourism Corp. Ltd (IRCTC) Q3 FY24 Earnings Concall Revenue Growth Q3 revenue reached highest ever at INR 1,118 crores, up 21.8% YoY and 12.4% QoQ. Catering revenue grew 29.1% YoY to INR 508 crores. 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