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Reliance Industries Ltd Earnings - Analysis & Highlights for Q3 2025
Overview
PositivesNegativesOutlook
- The company had strong growth in the electronics business during the quarter, due to the festive and wedding season.
- The company had strong 6% LFL growth in the quarter.
- The company is the world's leading standalone 5G operator outside of China and the world's largest data operator mobile company anywhere, including Chinese companies.
- The company saw a very strong rebound in Fashion & Lifestyle with some of its new formats delivering the highest ever sales.
- The company had a strong 12% growth on a Y-o-Y basis in the week leading up to Diwali.
- Average Brent crude prices fell by 11% YoY and 7% QoQ due to a stronger dollar, weakness in China, and non-OPEC production.
- The jewelry business has been impacted by the substantial increase in gold prices.
- The company saw weakness in diesel attributable to China and higher inventories.
- The company saw a 15% fall in gasoline, a 38% fall in gasoil and ATF, and a 12% YoY decline in polyester chain margins.
- The company expects higher European gas to market, which will bode well for elevated prices going forward.
- The company expects prices to remain firm in the short term.
- The company expects the near-term outlook to be positive due to the Chinese Spring festival and Ramadan.
- The company expects the price outlook for the current quarter to be better due to the ceiling prices being $10.16 per MMBTU, as compared to the first half which was $9.87.
