New Delhi: Reliance Retail Venture Ltd, a retail subsidiary of Reliance Industries led by billionaire Mukesh Ambani, saw a 3.53 pc decrease in operating revenue to Rs 66,502 crore for the quarter ending in September 2024. Net income increased slightly by 1.28 percent to Rs 2,836 crore in the second quarter of the 2024-25 fiscal year. According to RIL's regulatory filing, the company had announced a revenue of Rs 68,937 crore and a profit after tax of Rs 2,800 crore for the same quarter last year.
According to an earnings statement from Reliance Industries, growth was affected by low demand in Fashion and Lifestyle (F&L), as well as efforts to streamline operations and enhance margins through a strategic approach to B2B business. Reliance Retail saw a decrease of 1.09 percent in its total revenue, including other income, reaching Rs 76,302 crore in the September quarter of FY25. The figure stood at Rs 75,615 crore in the same quarter last year. The top retailer in the country experienced a 1.03 pc increase in pre-tax profit (EBITDA) to Rs 5,675 crore in the June quarter of FY25. Reliance Retail expanded further by inaugurating 464 additional stores, reaching a total of 18,946 stores with operational space totaling 79.4 million sq. ft by the conclusion of the September quarter.
Additionally, Digital Commerce and New Commerce accounted for 17 percent of Reliance Retail's total revenue, with the company maintaining its emphasis on expanding these modern channels. Speaking about the outcomes, Mukesh D Ambani, who is the Chairman and Managing Director of RIL, stated that the retail sector is expanding its reach to customers and expanding its product range through both offline and online platforms.
The distinctive omnichannel retail strategy allows the company to meet the diverse needs of a large, varied customer base. The retail business keeps collaborating with well-known domestic and international companies, broadening its range of high-quality products. He also mentioned that concentrating on improving retail activities will assist the company in quickly expanding this sector in the upcoming quarters and years, while maintaining top position in growth within the industry. Furthermore, RRVL saw a 14.23 per cent rise in store foot traffic to 297 million during the September quarter. The number of registered consumers at Reliance Retail increased by 16.37 percent to 327 million in the September quarter, solidifying its position as one of the top retailers in the country. During the June quarter, Reliance Retail saw a rise of 8.88 per cent in its total number of transactions, reaching 334 million
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