Reliance Retail Reports Robust Financial Growth in June Quarter

Reliance Retail Venture Ltd, the retail division of Mukesh Ambani-led Reliance Industries, reported a notable increase in net profit and gross revenue in the June quarter. The results were buoyed by higher footfalls, operational expansion, and digital commerce contributions, underscoring the company's strong position in the Indian market.

Reliance Retail Venture Ltd (RRVL), the retail arm of Mukesh Ambani-led Reliance Industries, reported a 4.63% increase in net profit to Rs 2,549 crore for the June quarter. Gross revenue rose 8.1% to Rs 75,615 crore, reflecting robust performance driven by high footfall and expanded store footprint, according to a regulatory filing.

Revenue from operations surged 6.6% to Rs 66,260 crore, with digital and new commerce contributing 18% of total revenue. Pre-tax profit (EBITDA) increased by 10.47% to Rs 5,664 crore, propelled by margin improvements and streamlined operations.

RRVL's rapid expansion saw the addition of 331 new stores, bringing the total to 18,918, and increasing its retail area to 81.3 million sq ft. The company also recorded a significant boost in footfall and consumer base, strengthening its position as a leading retailer in India.

(With inputs from agencies.)