18 January 2025, Mumbai
The festive and wedding season boosted demand for Reliance Retail in Q3, FY 25 leading to the company’s sales rising by 7 per cent during the quarter. Reliance also streamlined its operations during the period as improvement in productivity over the last few quarters boosted profitability. Operator of over 19,102 stores spanning grocery, consumer electronics and apparel industries, Reliance Retail registered a 10 per cent rise in its net profit to Rs 3, 458 crore from a year ago.
The company’s gross revenues rose by 8.8 per cent to Rs 90, 333 crore while revenue from operations increased to Rs 79,595 crore during the quarter. This sequential growth of the company was a result of several productivity improvement initiatives and increased customer engagement during the festive period through new product launches and promotions.
Reliance Retail opened 779 new stores last quarter, and currently has 77.4 million square feet of retail space. It witnessed a strong turnaround in fashion and lifestyle consumption basket and premium brands business entered into India franchise arrangement for Saks Fifth Avenue. The business also entered into a JV with Mothercare PLC to acquire the Mothercare brand and its IP assets for the Indian subcontinent.
