Reliance Retail Ventures Ltd (RRVL), the retail arm of Reliance Industries Ltd, reported a 22% year-on-year rise in consolidated net profit to Rs. 3,457 crore for the quarter ended September 2025, driven by strong festive demand and continued expansion across key categories.
Revenue from operations grew 19% year-on-year to ₹79,128 crore, while Ebitda rose 16.5% to Rs. 6,816 crore. However, the Ebitda margin slipped 20 basis points to 8.6%, reflecting higher operating expenses and promotional intensity during the festive period.
Isha M. Ambani, Executive Director, Reliance Retail Ventures, said the quarter’s performance reflected “operational excellence, investments in stores and digital platforms, and festive buying across consumption baskets.” She added, “GST rate changes will further accelerate consumption growth as consumers get the benefit of lower prices… We consistently innovate, from curating new collections to creating campaigns that connect with today’s Indian consumer, and our focus remains on building brands that inspire and resonate across India.”
Category performance
The grocery and fashion & lifestyle divisions reported strong year-on-year growth of 23% and 22%, respectively, aided by festive buying. The consumer electronics business grew 18%, benefiting from GST rate reductions and new product launches, particularly in air conditioners and televisions under the Reliance Digital brand.
The company’s grocery segment saw double-digit growth across core categories — packaged food up 20%, staples up 18%, and home and personal care up 13%. The volume of fruits and vegetables rose 62% year-on-year.
Network and operations
Reliance Retail added 412 new stores during the quarter, taking its total to 19,821 outlets, up 4.6% year-on-year. Despite the expansion, the operational area declined 2% to 77.8 million sq. ft from 79.4 million sq. ft a year earlier, reflecting ongoing optimisation of store formats.
In the previous quarter (April–June 2025), RRVL had reported a net profit of Rs. 3,271 crore, up 28.3% year-on-year, with revenue of Rs. 73,720 crore, up 11.3%.
FMCG restructuring
Reliance Industries also confirmed progress on the restructuring of its fast-moving consumer goods (FMCG) business, with plans to spin off its brands into a new entity, New Reliance Consumer Products Ltd (New RCPL), ahead of the retail arm’s anticipated IPO. New RCPL, previously a step-down subsidiary through RRVL, will now operate as a direct subsidiary of RIL once the National Company Law Tribunal (NCLT) approves the demerger.
During the quarter, the FMCG business generated gross revenue of Rs. 5,400 crore. Its cola brand Campa sustained a double-digit market share in key regions, supported by continued growth in both Campa and Independence brands.
At RIL’s 48th annual general meeting in August, management reiterated its Rs. 1 trillion revenue target for RCPL within five years, underscoring the conglomerate’s ambition to build a dominant consumer products business alongside its retail and digital verticals.
