Meta Platforms(US:META) MINT·2025-10-25 10:56Core Insights - Reliance Industries Limited (RIL) has announced a joint venture with Facebook Overseas, Inc. to form Reliance Enterprise Intelligence Limited (REIL), focusing on enterprise AI services [1][6] - Reliance Intelligence will hold a 70% stake in REIL, while Facebook will own 30%, with an initial investment of approximately ₹855 crore [2][3] Joint Venture Details - REIL was incorporated on October 24, 2025, as a wholly owned subsidiary of Reliance Intelligence, with an initial capital subscription of ₹2 crore for 20,00,000 equity shares [3][4] - The transaction is not classified as a related party transaction, and no governmental approvals were required for its incorporation [4][5] Strategic Implications - The partnership aims to enhance enterprise technology capabilities and explore AI-based solutions for businesses, highlighting the growing significance of AI in enterprise solutions [6] - This move positions both companies strategically in the emerging field of artificial intelligence [6] Financial Performance - RIL reported a 14.3% year-on-year increase in consolidated net profit to ₹22,092 crore for the quarter ending September 30, 2025, driven by strong performances in various sectors [7] - Consolidated revenue rose 10% year-on-year to ₹2,83,548 crore, with quarterly consolidated EBITDA growing 14.6% to ₹50,367 crore, supported by higher throughput in the Oil-to-Chemicals segment and strong consumer demand [8][9]