Reliance Retail Q2 results: Net profit rises 1.3% to ₹2,836 crore, adds 464 new stores during the quarter | Mint

MUMBAI: Reliance Retail Ventures Ltd, the retail arm of Reliance Industries Ltd, reported a net profit of ₹2,836 crore for the quarter ended September, reflecting a 1.3% year-on-year increase. In the same quarter last year, its profit stood at ₹2,800 crore.

Revenue from operations grew by X% to ₹66,502 crore, compared to ₹68,937 crore in the corresponding period last year.

EBITDA for the quarter rose to ₹5,850 crore from ₹5,830 crore in the year-ago second quarter. Margins improved by XX basis points to 0.3%.

The company attributed a rise in depreciation to an expanded asset base, driven by new store openings and enhanced supply chain infrastructure.

Reliance Retail continued its aggressive expansion, adding 464 new stores during the quarter, bringing the total store count to 18,946, covering 79.4 million sq ft.

“Reliance Retail continues to make investments in technology and infrastructure to build a strong foundation for future growth and maintain market leadership. We continue to strengthen our customer proposition with innovative products that spans everyday essentials to premium offerings. By continuously enhancing our assortment and innovating across categories, we are creating a shopping experience that meets the evolving needs of our customers and reinforces our leadership in the retail space,” said Isha Ambani, executive director, Reliance Retail.

Footfalls across all formats exceeded 297 million during the quarter, marking a 14% year-on-year growth. Digital commerce and new commerce businesses also grew, contributing 17% of total revenue.

Footfalls across all formats exceeded XXX million during the quarter, marking a XX% year-on-year growth. Digital commerce and new commerce businesses also grew, contributing XX% of total revenue.

The consumer electronics segment maintained momentum with a XX% growth year-on-year, while the fashion and lifestyle business posted a XX% increase. The grocery segment, led by Smart and Smart Bazaar formats, recorded a growth of XX%.

“XXXXX,” added Mukesh D. Ambani, chairman and managing director of Reliance Industries.