Reliance Retail: Navigating Challenges and Charting New Growth

Reliance Retail Venture Ltd, led by Mukesh Ambani, recorded a slight decline in revenue but a marginal rise in profit for the September 2024 quarter. Despite weak demand in fashion, the retailer continued to expand, focusing on digital channels and omnichannel models to drive future growth.

Reliance Retail Venture Ltd, the retail division of Mukesh Ambani's Reliance Industries, experienced a 3.53% drop in operating revenue for the quarter ending September 2024, reporting Rs 66,502 crore. Though fashion and lifestyle demand weakened, profits rose slightly by 1.28% to Rs 2,836 crore.

The company reported earlier figures of Rs 68,937 crore in revenue and Rs 2,800 crore in profit for the same period last year. While gross revenue also dipped, Reliance Retail continued its expansion strategy, opening 464 new stores, boosting its presence to 18,946 locations.

Digital commerce and new-age channels contributed significantly to revenue, and the retailer saw growth in consumer electronics and grocery segments. Mukesh Ambani emphasized the company's focus on retail operation enhancement to sustain its industry-leading growth trajectory.

(With inputs from agencies.)