Reliance Retail Ventures Ltd., the consumer arm of the diversified conglomerate Reliance Group led by Mukesh Ambani, reported a 10% year-on-year increase in its profit after tax (PAT) for the quarter ending on December 31, 2024. During this period, Reliance Retail Ventures’ (RRVL) PAT was Rs 3,458 crore, up from Rs 3,145 crore in the same quarter the previous year.
Operating revenue also grew by 7% compared to the previous year, reaching Rs 79,595 crore from Rs 74,373 crore. This resulted in a 3.3% increase in revenue from operations to Rs 212,357 crore for the nine-month period between April and December 2024, up from Rs 205,469 crore reported in the same period the previous year.
“Retail segment delivered a strong performance, with noteworthy contribution from all formats. The business ably capitalized on the pick-up in consumption amid festive demand during the quarter,” Mukesh Ambani, Chairman & Managing Director, Reliance Industries said in a statement.
In the third quarter of fiscal year 2025, RRVL improved its earnings before interest, tax, depreciation, and amortization (EBITDA) by 9.8% year-on-year to Rs 6,828 crore, up from Rs 6,238 crore. The EBITDA margin remained at 8.6%, an increase of 20 basis points from 8.4% in the third quarter of fiscal year 2024, but decreased by 20 bps sequentially. One basis point is equivalent to one hundredth of a percentage point.
Despite being a festive quarter, footfall in Reliance’s retail outlets decreased from the previous quarter. During the last quarter, the company recorded 296 million footfall in its stores, down from 297 million in the second quarter of fiscal year 2025, while it increased by 5% year-on-year from 282 million in the third quarter of fiscal year 2024.
According to Ambani, a superior understanding of customer needs and preferences enabled Reliance Retail to serve a wide variety of demographic profiles “with the right product, at the right time, through the right channel”. “With customer-centric innovation at its core, the business constantly endeavors to enhance the shopping experience of its customers through its vast reach and a constantly expanding product basket,” he added.
While RRVL added 779 new stores to its portfolio, bringing the total number of stores under its umbrella to 19,102, the area operated by the retail major decreased sequentially. In Q3, the area operated stood at 77.4 million square feet, down from 79.4 million sq.ft. in Q2 but up from 72.9 million sq.ft. in Q3 of FY2024.
According to the company, its grocery business grew at a healthy pace of 37% y-o-y led by big box format. There was growth across categories, with general merchandise and value apparel growing at 20% y-o-y and premium personal care and beauty growing 16% y-o-y while Metro business achieved highest ever festive sales, it said. JioMart expanded the product range with a 33% y-o-y increase in the seller base while Milkbasket reported 20% y-o-y growth in monthly active users and 24% y-o-y growth in its GMV.
Consumer brands continued to deliver growth across categories with nine month FY2025 revenue at Rs 8,000 crore. Campa & Independence – two of its flagship fast moving consumer goods brands gained traction across markets. According to the company, Campa has over 10% market share in sparkling beverage category in select states. Both brands are projected to cross Rs 1,000 crore turnover each in FY25.
“Reliance Retail delivered strong performance during the quarter led by festive buying across consumption baskets. Our focus on offering wide range of products at an attractive price value proposition continues to draw customers to our stores and digital platforms. We are creating through JioMart – express deliveries, scheduled deliveries coupled with Milkbasket – subscription services, a seamless shopping experience that serves diverse customers across all categories and catchment,” said Isha Ambani, Executive Director, RRVL.
