Reliance Industries owned Reliance Retail Ventures registered a 10 per cent increase in profit after tax with ₹3,458 crore registered in the quarter that ended on December 31 compared to ₹.3,145 crore registered during the same quarter last year, the growth being driven by strong festival demand, the management said.

Gross revenue crossed ₹90,000 crore in the quarter under review while revenue from operations increased 7.02 per cent to ₹79,595 crore for the quarter compared to ₹74,372 crore registered a year ago. A 19.6 per cent increase was registered with ₹66,502 crore in September.

During the quarter, Reliance Retail opened 779 new stores, the company’s total store count is now at 19,102. The quarter recorded footfalls of over 296 million, a growth of 5 per cent year-on-year during the quarter.

“Reliance Retail delivered strong performance during the quarter led by festive buying across consumption baskets. Our focus on offering a 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 M. Ambani, Executive Director, Reliance Retail Ventures Ltd.

During the festival season, consumer electronics registered a 12 per cent year-on-year growth. The digital and new commerce contributed to 18 per cent of total revenue for Reliance Retail during the quarter. In grocery, the business-to-consumer business grew by 37 per cent while general merchandise and value apparel grew by 20 per cent and premium personal care and beauty registered a 16 per cent year-on-year growth.

During the quarter, JioMart expanded its product range with a 33 per cent year-on-year increase in the seller base. JioMart scaled express delivery across 4,000 pin codes using hyperlocal local across the country.

“ The operating model leverages existing infrastructure enabled through a network of 2,100 stores, leading to strong unit economics. The proposition is being operated across 4,000 pin codes using a hyperlocal model capturing larger basket sizes through the full range of grocery, general merchandise, electronics and fashion categories thereby resulting in industry-leading Average Order Value (AOV),” the company informed the stock exchanges

Published on January 16, 2025