Reliance Retail reported an 18.8 per cent revenue growth in the second quarter ended September 30, 2023, led by all-round growth across consumption baskets.

Grocery and fashion and lifestyle businesses maintained strong growth momentum, while consumer electronics had a steady performance despite festive period falling in the third quarter of FY24.

The retail business posted an EBITDA of ₹ 5,820 crore, which was up by 32.2 per cent on a year-on-year basis.

store network

The business expanded its store network with 471 new store openings, taking the total store count at the end of the quarter to 18,650 with an area of 71.5 million square feet.

The quarter recorded footfalls of over 260 million across formats, a growth of 40.5 per cent y-o-y. Digital commerce and new commerce businesses continued to grow and contributed 19 per cent of revenue. 

Reliance Retail also completed the transfer of assets to warehouse InvIT entity for a total consideration of ₹5,150 crore on October 25. Isha M Ambani, Executive Director, Reliance Retail Ventures Ltd, said: “I am delighted to report that we have delivered yet another quarter of stellar performance and achieved an all-time high across financial metrics. The performance is a testament to our customer-centric approach that defines Reliance Retail, and we look forward to serving our customers this festive season with renewed optimism and enthusiasm.”