Reliance Retail Q3 results: Net profit rises 10.1% to Rs 3,485 crore

The company's revenue from operations stood at Rs 79,595 crore, up 7.0 per cent year-on-year, while its gross revenue from operations increased by 8.8 per cent to Rs 90,333 crore

Reliance Retail’s net profit in October-December rose 10.1 per cent to Rs 3,485 crore over the same quarter in the previous year while its earnings before interest, tax, depreciation and amortisation from operations increased 9.8 per cent to Rs 6,632 crore.

 

The company’s revenue from operations, at Rs 79,595 crore, was up 7 per cent year-on-year while its gross revenue increased 8.8 per cent to Rs 90,333 crore.

 

Sequentially, its gross revenue was up 18.4 per cent and the company said it was owing to strong sequential growth driven by several productivity improvement and increased customer engagement during festival period through product launches and promotions.

 

 

“The business ably capitalised on the pickup in consumption amid festive demand during the quarter. A superior understanding of customer needs and preferences enables Reliance Retail to serve a wide variety of demographic profiles,” said Mukesh Ambani, chairman and managing director, Reliance Industries, in a statement.

 

During the quarter, it had a footfall of 296 million across formats and opened 779 stores, taking the total to 19,102 stores.

 

In October-December, the company continued to focus on scaling up digital commerce and new commerce and these channels now contribute 18 per cent of revenue.

 

Isha M Ambani, executive director, Reliance Retail Ventures, said: “Our focus on offering a wide range of products at an attractive price value proposition continues to draw customers to our stores and digital platforms.”  

 

In the festival period, the segment saw strong sales, fuelled by product launches and attractive promotions, resulting in a 12 per cent Y-o-Y growth. 

 

The fashion and lifestyle business and apparel and footwear witnessed a strong bounce back, led by launch of designs and improved store experience.

 

The grocery B2C business grew 37 per cent Y-o-Y led by the big box format. JioMart expanded the product range with a 33 per cent Y-o-Y increase in the seller base.

 

The consumer brands business delivered growth across categories with nine months’ revenue at Rs 8,000 crore. The Campa and Independence brands continued to gain traction across markets. The former has over a 10 per cent market share in the sparkling beverage category in select states. Each of the two is projected to cross Rs 1,000 crore in turnover in FY25.