Reliance Retail April-June Profit Rises 28%, Opens 388 New Stores

Reliance Retail Ventures Ltd., the retail arm of Reliance Industries Ltd., reported a consolidated net profit of ₹32.71 billion for the June quarter, up 28% on year. Revenue rose 11% to ₹841.72 billion, while EBITDA grew 13% to ₹63.81 billion. The EBITDA margin improved 20 basis points to 8.7%.

The company attributed the growth to strong performance in grocery and fashion, along with strategic initiatives, operating leverage, and cost discipline. It added 388 stores during the quarter, bringing the total to 19,592 as of Jun. 30. Total operational area stood at 77.6 million square feet, down 5% on year.

Chairman Mukesh Ambani said Reliance is focused on expanding its FMCG portfolio to suit Indian tastes. The customer base rose to 358 million in the quarter.

Fashion, Electronics, FMCG Drive Growth

Reliance’s fashion and lifestyle business grew on the back of new store formats and brand expansion, particularly in footwear, beauty, and accessories. Ajio’s new customer revenue share rose to 18%, while average bill value increased 17%. Ajio Luxe expanded its catalogue 17% on year.

The jewellery segment saw a 47% jump in average bill value, and the consumer electronics segment’s average bill size rose 26%. Service centre network grew 31% to 1,621 locations. The consumer products segment’s revenue doubled to ₹44 billion.

Parent RIL Sees 78% Jump in April-June Profit

Parent company Reliance Industries Ltd. reported a 78% year-on-year jump in net profit to ₹269.94 billion for the June quarter—beating consensus estimates. Consolidated revenue rose to ₹2.487 trillion from ₹2.362 trillion a year ago.