Dependence Retail Ventures Ltd., the consumer arm of Mukesh Ambani-led diversified conglomerate Reliance Group, reported a 10% year-on-year increase in its profit after tax (PAT) for the quarter ending December 31, 2024. During This period, Reliance Retail Ventures’ (RRVL) PAT stood at Rs 3,458 crore, compared to Rs 3,145 crore in the same quarter of the year previous.
Operating revenue also grew 7% over the previous year, reaching Rs 79,595 crore from Rs 74,373 crore. This translated into a 3.3% increase in operating revenue to Rs 212,357 crore for the nine-month period between April and December 2024, compared to Rs 205,469 crore reported during the same period of previous year.
“The Retail segment delivered a solid performance, with notable contributions from all formats. The company ably capitalized on the recovery in consumption amid festive demand during the quarter,” Mukesh Ambani, Chairman and Managing Director, Reliance Industries said in a statement.
In the third quarter of FY2025, RRVL improved its earnings before interest, taxes, depreciation and amortization (EBITDA) by 9.8% year-on-year to Rs 6,828 crore, from Rs 6,238 crore. EBITDA margin remained at 8.6%, an increase of 20 basis points from 8.4% in the third quarter of fiscal 2024, but decreased by 20 basis points sequentially. One basis point is one hundredth of a percentage point.
Although it was a festive quarter, footfall at Reliance outlets was down compared to the previous quarter. During the last quarter, the company recorded 296 million footfalls in its stores, compared to 297 million in the second quarter of fiscal 2025, while it increased by 5% year-on-year compared to 282 million in the third quarter of fiscal year 2024. .
According to Ambani, a better understanding of customer needs and preferences has enabled Reliance Retail to serve a wide variety of demographics “with the right product, at the right time, through the right channel”. “With customer-centric innovation at its core, the company constantly strives to improve the shopping experience of its customers through its vast reach and ever-expanding basket of products,” a- he added.
While RRVL added 779 new stores to its portfolio, taking the total number of stores under its umbrella to 19,102, the area operated by the major retailer declined sequentially. In the third quarter, operated square footage was 77.4 million square feet, down from 79.4 million square feet in the third quarter. in the second quarter, but up from 72.9 million square feet. in the third quarter of fiscal 2024.
According to the company, its grocery business saw healthy growth of 37% on an annual basis, driven by the big box format. There was growth across all categories, with growth of 20% YoY for General Merchandise and Value Apparel, and growth of 16% YoY for Premium Personal Care and Beauty. range, while the Metro business achieved the highest ever festive sales, it said. JioMart expanded product range with 33% YoY increase in seller base, while Milkbasket reported 20% YoY growth in monthly active users and 24% YoY growth annual GMV.
Consumer brands continued to drive growth across categories with nine-month revenue for FY25 of Rs 8,000 crore. Campa & Independence – two of its flagship fast-moving consumer goods brands have gained traction across markets. According to the company, Campa has more than 10% market share in the sparkling beverage category in some states. Both brands are expected to cross Rs 1,000 crore in turnover each in FY25.
“Reliance Retail delivered strong performance during the quarter, driven by festive shopping in consumer baskets. Our desire to offer a wide range of products at an attractive price continues to attract 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 a diverse customer base across categories and catchment areas,” said Isha Ambani, Executive Director, RRVL .
