Reliance Retail's Steady Growth Amid Festive Boost and Strategic Expansions

Reliance Retail Venture Ltd, under Mukesh Ambani's Reliance Industries, reported a 2.7% rise in profit for the December quarter, with significant growth in new store openings and transactions. The company completed the demerger of its FMCG business and saw strong performance in various segments, driven by festive demand and new brand additions.

Reliance Retail, a key division of Mukesh Ambani's Reliance Industries, announced a 2.7% increase in profit after tax to ₹3,551 crore for the December quarter. Despite slowing gross revenue growth at 8.1%, the retail giant's operations from revenue soared 9.2% compared to the previous year.

The business saw its pre-tax profit, or reported EBITDA, rise slightly by 1.3% year-on-year, reflecting strategic expansion efforts, including the opening of 431 new stores. This addition brought its total to 19,979 stores, spanning over 78.1 million square feet, accommodating a growing registered customer base now at 378 million.

During this quarter, Reliance Retail completed the demerger of Reliance Consumer Products, bolstering its direct ties to RIL. The company's performance across key categories like fashion, e-commerce, and electronics showed impressive gains driven by festive promotions, solidifying Reliance Retail's position as a dominant player in the Indian market.