Reliance Retail's Resilient Growth Amidst Challenges

Reliance Retail Venture Ltd reported a slight decline in operating revenue for the September 2024 quarter, showing resilient growth despite challenges in fashion demand. The company opened 464 new stores and saw increased contributions from digital commerce, with overall consumer engagement up significantly.

Reliance Retail Venture Ltd (RRVL), the retail division of Mukesh Ambani's conglomerate Reliance Industries, reported a decrease in operating revenue by 3.53% to Rs 66,502 crore for the quarter ending September 2024.

The profit after tax saw a modest rise of 1.28% to Rs 2,836 crore for the second quarter of the financial year 2024-25. The previous year's figures for the same quarter were Rs 68,937 crore revenue and Rs 2,800 crore profit after tax as per the filings.

Despite the downturn in fashion and lifestyle demand, Reliance Retail expanded significantly, opening 464 new stores, and saw a notable increase in footfalls and registered consumers, underscoring its commitment to strengthening operations and expanding its footprint.

(With inputs from agencies.)