Reliance Revenue Breakup 2025 – How Reliance Makes Money?

Reliance is no longer an oil and petrochemical giant. From powering your phone through Jio to stocking your pantry via Reliance Retail, the conglomerate has evolved into a money-making machine that touches nearly every Indian household and is now making global waves.

Founded as a textiles industry in 1966, Reliance Industries Limited has evolved into India’s largest conglomerate. It reported a record-breaking revenue of ₹10.7 lakh crore in FY25, up 7.1% year-on-year.

But where does this revenue come from, and how does Reliance Industries keep on growing? In this article, we decode Reliance Industries' Revenue Breakup 2025.

Reliance’s FY25

In FY25, Reliance Industries crossed yet another milestone as its total revenue soared to ₹10.71 lakh crore ($125 billion), marking a solid 7.1% year-on-year growth. This YoY Revenue growth is led by robust performance in Jio Platforms and Retail. The company also reported EBITDA of ₹1.83 lakh crore and the Net Profits stood at ₹81,309 crore, up by 2.9%, reflecting the strength of its diversified business model. Reliance made the largest-ever capital expenditure of ₹1.31 lakh crore, to fuel its expansions across its key verticals- Oil-to-Chemicals (O2C), Digital Services (Jio), Retail, Exploration & Production (Oil & Gas), and New Energy.

Reliance’s Revenue Segments

Oil-to-Chemicals (O2C)

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The cash cow of Reliance, the O2C business, contributed ₹6.36 lakh crore, accounting for almost 59% of the total revenue. Despite an 8% drop in EBITDA due to global volatility, lower fuel spreads, and oversupply from China, volumes rose across key categories:

Gasoline demand grew by 7.5%
Aviation Turbine Fuel (ATF) jumped 9%
Polymer and polyester up by 5% YoY
Record refinery throughput: 80.5 million tonnes

Reliance is making future bets as major expansions are underway- 1 MMT polyester and 3 MMT PTA capacity, plus a fully integrated PVC plant to close India’s supply gap.

Jio Platforms (Digital Services)

Jio Platforms continues to break records, by contributing ₹1.28 lakh crore to the total revenue of FY25. This amount accounts for around 12% of the total revenue.

488.2 million subscribers
191 million 5G users (largest outside China)
ARPU of ₹206.2 (↑13.5% YoY)
Data Consumption: 49 Exabytes in Q4 alone

Beyond connectivity, Jio's digital revenue streams are diversifying, with strong growth observed from cloud services, Internet of Things (IoT) solutions, content bundling, and advertising. The company is also making strides in the home broadband segment, with JioHome subscribers crossing 18 million. During Mahakumbh, Jio managed 2.2 million GB of 5G data across 50 million daily pilgrims, setting a new global benchmark in telecom density.

Reliance Retail

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India’s largest retailer recorded 8% YoY revenue growth, reaching ₹3.30 lakh crore, with ₹25,053 crore EBITDA and ₹12,392 crore profit. The retail segment's strength is evident in its operational metrics, including 1.4 billion transactions (+11% YoY) and a registered customer base of 349 million (+15% YoY). Reliance Retail's extensive footprint, with 2,659 new stores opened in FY25, bringing the total store count to 19,340, underscores its market penetration.

Key growth areas within Reliance Retail include:

JioMart: Quick hyper-local deliveries grew 2.4x QoQ in Q4 FY25, leveraging existing stores for profitable incremental sales.
Consumer Brands: This segment has rapidly emerged as India's fastest-growing FMCG business, achieving approximately ₹11,450 crore in sales in its second year of operations.
Fashion & Lifestyle: The launch of Shein on the Ajio expanded its offering to over 12,000 options. The business also saw 1.9 million new customers added in the quarter.
Consumer Electronics: This segment demonstrated strong growth, driven by an increase in average bill value and improved conversions, with successful campaigns like 'Digital India Sale'.

JioStar (Media & Entertainment)

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Launched in November 2024 after merging Viacom18 and Disney-Hotstar, JioStar has achieved the world's second-largest paid user base with approximately 280 million paid subscribers within just ten weeks of its launch. The platform also set a world record for live concurrency, with 61 million people simultaneously watching a sports event.

JioStar’s content library is of 320,000+ hours, which is 6x that of Netflix. The financials in FY25 were:

Revenue: ₹9,497 crore, accounting for around 31% of total revenue
EBITDA: ₹266 crore

Oil & Gas (Exploration & Production)

Reliance Industries Oil & Gas Exploration and Production with icons of oil rigs and oil drop.

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Reliance’s revenue from the Oil & Gas segment stood at Rs 25,211 crore, up by 3.2% YoY. This segment posted its best-ever year in terms of EBITDA, with margins at a strong 84%.

KG-D6: Production up 4%; key contributor
CBM (Coal Bed Methane): Multilateral wells raised output from 4,000 to 13,000 SCMD
Price Support: Realisation up to $10.16/MMBtu ceiling in H2

With India’s natural gas demand rising and new projects progressing, this segment is entering a phase of sustained growth.

New Energy

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Reliance is building what could be one of the world’s most integrated clean energy platforms:

Solar: 10 GW module line commissioned (expandable to 20 GW)
Battery Storage: Targeting 30 GWh capacity
Green Hydrogen: Electrolyser manufacturing in Kandla underway
CBG: 10 plants live, expanding to 55 sites

The clean energy infrastructure is spread across 5,000+ acres and will cater to both domestic and international needs in the coming years.

Segment	Revenue (in Cr.)	% contribution
Oil-to-Chemicals (O2C)	6,36,000	59.38%
Retail	3,30,000	30.81%
Digital (Jio Platforms)	1,28,218	11.97%
Oil & Gas (E&P)	25,211	2.35%
Media (JioStar)	9,497	0.89%
New Energy & Others	30,000 (est.)	2-3% (Est.)
TOTAL	₹10,71,000 crore	Around 109%

The above table exceeds 100% because of rounding off, inter-segment overlaps.

Also Check- Tata Motors Revenue Breakup 2025 – How do they Make Money?

Final Thoughts

In FY 2025, Reliance Industries expanded its impact across a deeper layer of India’s economy. From leading the 5G revolution with Jio, reshaping how 500 million+ Indians shop with Reliance Retail, to building the largest media platform through JioStar and laying the groundwork for a green energy future, Reliance is operating at a scale few global companies can match.

What sets Reliance apart isn’t just its ₹10.7 lakh crore in revenue, but the company’s ability to blend legacy industries with future technologies, while staying rooted in domestic growth. It’s turning data into dominance, oil into opportunity, and ambition into action.

As India rises on the world stage, Reliance isn’t just keeping pace, it’s setting the direction.

About the Author

Jagriti Soni

I am a writer who is curious to learn and explore new things and share the same with my readers. I craft content that’s easy to understand, with a dash of wit to keep things light and relatable.

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