Reliance Retail Q3 results: Net profit rises 32% to Rs 3,165 cr

Reliance Retail on Friday reported that the company's revenue soared to Rs 83,063 crore, marking a 22.8 per cent rise compared to the same quarter in the previous year. This growth was primarily fueled by robust sales in key segments such as Grocery, Fashion & Lifestyle, and Consumer Electronics.

Reliance Retail's net profit experienced a remarkable surge, climbing by 31.9 per cent YoY to reach Rs 3,165 crore.

The company's EBITDA for the quarter stood at Rs 6,258 crore, which is a substantial 31.1 per cent improvement YoY. The EBITDA margin also witnessed an uptick, reaching 8.4 per cent, which represents a 50 basis points increase from the previous year, indicating improved operational efficiency and cost management.

In addition to financial growth, Reliance Retail continued to expand its physical footprint by adding 252 new stores during the quarter. This expansion brought the total number of stores to 18,774.

Launching "Swadesh," Reliance Retail has turned its focus towards promoting India's traditional art forms. Additionally, it introduced "AjioGram," a direct-to-consumer (D2C) platform that emphasizes content-driven engagement. In a strategic move, Reliance Retail acquired Sephora India's franchise business and entered into an exclusive distribution arrangement with SMCP, facilitating the launch of Sandro and Maje brands in the Indian market. 

Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited, said “Reliance Retail has delivered strong performance during the festive quarter. Our business success is intricately woven into the larger fabric of India's economic growth, and together, we are shaping a compelling story of innovation and world class possibilities for the future. We remain resolute in our commitment to bring high quality products at great value to our customers with an engaging shopping experience”.

"The retail segment has also delivered an impressive financial performance with its rapidly expanding physical as well as digital footprint. Reliance Retail remains focused on enriching customer shopping experience by adding new brands and offerings to its portfolio. Its New Commerce initiatives continue to support the growth journey of millions of small merchants through technology, generating immense societal value," Mukesh D. Ambani, Chairman and Managing Director, Reliance Industries Limited said.

Reliance Industries' shares closed unchanged at Rs 2,735 ahead of its earnings announcement.

Also Read: Reliance Jio Q3 results: Net profit rises 12% to Rs 5,208 cr