Reliance Retail Q3 Results: Reliance Retail’s profit increased by 2.7 percent in the third quarter amid the festive season, revenue crossed Rs 97600 crore.

Reliance Retail Q3 Results: Reliance Retail Ventures Limited (RRVL), led by veteran industrialist Mukesh Ambani, has performed strongly in the December quarter. The company’s net profit increased by 2.7 percent year-on-year to Rs 3,551 crore, while total revenue increased by 8.1 percent to Rs 97,605 crore.

According to the information given to the stock market by Reliance Industries Limited (RIL), in the same quarter a year ago, RRVL’s net profit was Rs 3,458 crore and total income was Rs 90,333 crore.

strong operational performance

The company’s operating revenue increased by 9.2 percent to Rs 86,951 crore in the December quarter, compared to Rs 79,595 crore in the same quarter last year. At the same time, there was a slight increase in profit before tax (EBITDA) and it increased by 1.3 percent to Rs 6,915 crore.

Expansion in store network and customer base

The country’s largest retailer continued its expansion strategy and opened 431 new stores during the quarter. With this the total number of stores of the company increased to 19,979.

RRVL’s total registered customer base reached 37.8 crore, while the number of transactions increased by 47 per cent year-on-year to more than 52.4 crore.

Restructuring of FMCG business

During this quarter the company completed the process of divestment of its FMCG business Reliance Consumer Products Limited (RCPL). Now it has become a direct subsidiary of RIL, which will help this business to grow under an independent and focused structure.

Rapid growth in electronics and e-commerce

1. According to the company, grocery and consumer electronics businesses benefited from the festive season.
2. 46% in laptop sales
3. 38% in mobile sales
4. An increase of 25% was recorded in TV sales.
5. E-commerce platforms Ajio and Shin also showed continuous growth in this quarter.

Reliance Industries Chairman and Managing Director Mukesh Ambani said that this quarter was very important for the retail business and the portfolio has been further strengthened with the addition of new brands and products.

At the same time, RRVL Executive Director Isha M Ambani said that the company is continuously moving forward on its vision of changing the face of the Indian retail market through innovation and excellence.

Also read: Impact of new labor code, Wipro’s third quarter profit fell by 7 percent