Reliance Retail: Surging Through Festive Demand

Reliance Retail reported significant financial gains in the December quarter, driven by increased festive demand and strategic initiatives. Gross revenue improved by 8.75 per cent, with profit after tax rising by 10 per cent. The firm expanded its retail footprint with 779 new stores, enhancing its customer engagement strategy.

Reliance Retail Venture Ltd (RRVL), a part of Mukesh Ambani's Reliance Industries, saw a notable 8.75 per cent growth in gross revenue, reaching Rs 90,333 crore in the December quarter. This financial boost was attributed to a surge in festive demand, as reported by the company. Additionally, the profit after tax increased by 10 per cent, resulting in Rs 3,458 crore.

The rise in revenue was compared to the Rs 83,063 crore reported in the previous year, reflecting the company's strategic growth through enhanced digital and new commerce channels. These modern channels accounted for 18 per cent of Reliance Retail's total revenue, showcasing the company's adaptation to evolving market trends.

Reliance Retail's impressive quarter also included the expansion of its retail presence with 779 new stores, bringing their total to 19,102 locations. Mukesh Ambani praised the company's comprehensive understanding of customer preferences, emphasizing its ability to meet diverse consumer needs effectively. Innovations and a broadened product range continue to draw more footfalls, as evidenced by a 5 per cent increase in store visits.

(With inputs from agencies.)