New Delhi. Reliance Industries Limited (RIL) on Monday released the results for the second quarter of the current financial year 2024-25 i.e. the September quarter. At the same time, the net profit of Reliance's media business increased by 21.3 percent year-on-year to Rs 188 crore. At the same time, there was a net profit of 406 crores in the first half.

The gross revenue of the media business stood at Rs 2,118 crore in the second quarter ended September 30, 2024, a marginal decline of 2.1 percent over the previous year.

Quarterly Results (2Q FY25 vs 2Q FY24)

• This marginal decline in operating revenue of the media business is mainly due to the sharp drop in revenue from the movie segment, which is a project-based business.
• Revenue from the news portfolio grew 6 percent YoY, driven by growth in advertising revenue from the digital segment across all brands. The TV advertising environment remained soft in the quarter as advertising volumes for the news genre declined more than 20 percent YoY. EBITDA of the news business continued to improve in the first half of the financial year.
• Operating revenue of the entertainment business declined by 5 percent, mainly due to a decline in revenue from the movie segment. Viacom18 Studios released 2 big films in the second quarter of the previous financial year (FY24), while no film was released in this quarter. This impact was largely balanced by growth in subscription revenue due to new pricing and increased monetization of the sports portfolio. Growth in ad revenue came mainly from digital, both sports and non-sports segments. JioCinema's recently launched SVOD plans received a strong response and became the fastest-growing subscription-based OTT platform in the country.
• The group continued to invest in sports and digital, which impacted operating profits.