A sluggish demand and operational simplification caused Reliance Retail Venture Ltd (RRVL), the retail division of Reliance Industries, to announce a 3.53 per cent drop in operating revenue to US $ 7.9 billion for the quarter that ended in September 2024.
The second quarter of the 2024–25 fiscal year had a slight 1.28 per cent increase in profit after tax (PAT), at US $ 337 million. According to Reliance Industries Ltd.’s (RIL) regulatory filing, the company reported sales of US $ 8.2 billion and profit after tax of US $ 333 million for the July-September quarter of last year.
Reliance Industries’ earnings statement states that “Weak Fashion and Lifestyle (F&L) demand, continued focus on streamlining of operations, and calibrated approach to B2B business to improve margins” had an impact on growth.
In the September quarter of FY ’25, Reliance Retail’s gross revenue, which includes other income, decreased 1.09 per cent to US $ 9.07 billion. In the same quarter last year, it stood at US $ 8.9 billion.
Nonetheless, the nation’s top retailer’s pre-tax profit (EBITDA) increased by 1.03 per cent to US $ 675 million in the June quarter of FY ’25.
By the conclusion of the September quarter, Reliance Retail had expanded by adding 464 new stores, bringing its total number of locations to 18,946. Its operating space was 79.4 million square feet.
Furthermore, as Reliance Retail continued to concentrate on growing these cutting-edge channels, digital and innovative commerce accounted for 17 per cent of its overall revenue.
Customers continue to respond favourably to Reliance Retail’s new concepts in the fashion and lifestyle sector. “Within the first year of its inception, Yousta, a youth-focused fashion retail format, has reached the milestone of 50 outlets,” it said.
Additionally, it reported that its digital commerce fashion and lifestyle brand, AJIO, had “steady performance as it expanded its product catalogue by over 25 per cent” in comparison to the previous year and acquired more than 1.8 million customers.
RIL Chairman and Managing Director Mukesh D. Ambani commented on the findings, saying that the retail business is still expanding its product choices and consumer touchpoints through both digital and physical channels. The company’s distinctive omnichannel retail model allows it to meet the diverse needs of a large and diverse clientele. The retail company keeps collaborating with well-known domestic and international companies to increase the range of high-quality products it offers.
