Reliance Retail Sept quarter net declines 24%, revenue soars 6%

Gross revenue for the quarter stood at Rs 91,716 crore, up 6.4% y-o-y, adjusted for the demerger of its consumer brands business. Net revenue grew 5.8% y-o-y to Rs 80,220 crore. This figure is also adjusted for the demerger of the consumer brands business. Yet, analysts say that Reliance Retail’s topline in Q2 was driven by largely single-digit growth across grocery, electronics, and fashion and lifestyle segments amid a challenging operating environment.

Sequentially, Reliance Retail's revenue from operations was almost flat, and net profit was down 6.9%, its results showed. 1% y-o-y to Rs 5,886 crore in the September quarter. Ebitda margins slipped 140 basis points to 7.3% in Q2 versus 8.7% reported a year ago. Ebitda, before a one-time impairment charge, stood at Rs 6,228 crore, with an Ebitda margin of 7.8%, the company said. The sharp moderation in margins reflected the shift in festive-season timing, absorption of input-cost inflation, and continued investments in scaling its B2B and digital commerce businesses, sector analysts said.

Reliance Retail opened 303 new stores during the quarter, taking its total store count to 19,947, up 0.6% y-o-y. Its operational area stood at 77.5 million sq. ft. Customer transactions grew 7% y-o-y despite the shift of major festivals to the December quarter, reflecting continued customer engagement, the company said. In the grocery segment, like-for-like (LFL) growth stood at 3% year-on-year. The company strengthened regional customer engagement through festive-led in-store experiences and launched the Smart 2.0 format with AI-enabled ordering.

Its B2B revenue grew 10% during the said quarter. Its network expanded to more than 5,000 stores across over 1,000 cities. The share of digital commerce in B2C grocery revenue increased by 270 basis points y-o-y. Isha Ambani, executive director of Reliance Retail Ventures, said, "The new model with fast growing digital commerce and B2B channels is working and funded by the profits of offline business."

In the consumer electronics segment, like-for-like growth stood at 8%, led by mobiles, laptops and IT peripherals, as well as appliances, supported by brand partnerships. ResQ completed 97% of its services within 48 hours. The fashion and lifestyle business reported steady growth, with like-for-like growth of 3% y-o-y. AJio’s catalogue expanded 23% to 3.3 million options, while Reliance Retail's premium and luxury portfolio crossed 1,000 exclusive brand stores.

During the quarter, the company launched Fabletics and signed an exclusive partnership with SKIMS, it said. RCPL touches Rs 8,266 cr in gross revenue Reliance Consumer Products reported gross revenue of Rs 8,266 crore in the July-September quarter, growing 1.6 times versus last year. Its daily essentials category sales were led by Independence and reached Rs 7,000 crore in the first half of FY27. Beverages led by Campa crossed Rs 5,250 crore in sales in H1FY27, achieving over 90% of FY26 sales in six months, with a double-digit market share in key markets, the company said in its investor presentation.