Reliance Retail profit falls 14.1% to ₹2,805cr despite digital gains
Reliance Retail saw its net profit drop by 14.1% this quarter, landing at ₹2,805 crore, even though revenue actually went up by 7.4% to ₹90,408 crore.
The boost came mostly from digital sales, but after splitting off its FMCG business last year, adjusted revenue growth is a bit higher at 11.6%.
Reliance Consumer Products FMCG revenue ₹8,600cr
EBITDA slipped slightly (down 1.1%) to ₹6,309 crore as the company invested heavily in digital expansion.
On the bright side, Reliance Consumer Products's FMCG revenue more than doubled to ₹8,600 crore with strong sales from Independence and Campa brands.
Despite the profit dip, Reliance Retail kept growing fast, adding 252 new stores and pushing its total count past 20,000 nationwide.
Digital commerce is booming too: Ajio Rush orders jumped a massive 136%, and apparel plus footwear made up over a quarter of online sales this quarter.