Reliance Industries, led by billionaire Mukesh Ambani, reported a 5.5% decline in its consolidated net profit for the first quarter of FY 2024-25, missing analyst expectations. The company attributed the lower profit to a weak performance in its energy units and lower fuel sales margins. Despite the profit decline, Reliance Industries saw a 11.5% year-over-year increase in quarterly consolidated revenue, reaching ₹257,823 crore ($30.9 billion). Additionally, the company's quarterly consolidated EBITDA rose by 2.0% year-over-year to ₹42,748 crore ($5.1 billion). Meanwhile, Reliance Retail Ventures reported a net profit of ₹2,549 crore for the quarter ended June 30, 2024, a 4.6% increase over the same period last year.