Reliance says quick commerce, FMCG ventures are now turning profitable
What's the story
Reliance Industries has announced that its two major consumer-focused businesses, quick commerce and fast-moving consumer goods (FMCG), have started generating positive cash flow. The company's quick commerce business, launched in October 2024, is now contribution margin positive. Meanwhile, the FMCG business it entered three years ago has become EBITDA positive. However, exact financial details were not disclosed during the announcement.
Strategic advantages
Efficient sourcing and category mix drive profitability
Reliance Retail's CFO Dinesh Taluja attributed the positive financial performance of these businesses to the company's scale in sourcing and a focus on high-margin categories. He said that Reliance has built "pretty efficient sourcing" with high margins, thanks to its large grocery retail business where it is the largest vendor (or customer) for most FMCG companies in India.
Category impact
Food and beverage category boosts quick commerce profitability
Taluja further explained that the food and beverage (F&B) category has a high margin and contributes significantly to the company's quick commerce business. He said one in every three orders in this segment is F&B, which adds to their margins. Reliance has also managed to control wastage in F&B, which can be as high as 30-35% for kiranas.
Expansion strategy
Reliance's quick commerce network and future plans
Reliance's quick commerce network includes 3,000 outlets, of which around 800 are dark stores. Taluja said that despite the extra delivery cost and dark store infrastructure cost in quick commerce, the company is uniquely positioned to leverage its fixed store network. He also revealed that Reliance's quick commerce business isn't limited to groceries but also includes electronics and fashion items.
Performance metrics
Daily run rate and market position
In the December 2025 quarter, Reliance had a daily run rate of 1.6 million quick commerce orders. The company is on track to become India's second-largest player in this space, with a 53% quarter-on-quarter growth in average daily orders. Despite extra costs associated with dark stores, Reliance plans to continue expanding its network to reduce average distance per order.
Business growth
FMCG business and retail ventures
Reliance also revealed that its FMCG business is EBITDA positive, but the full impact of its demerger will be seen in Reliance Retail Ventures's financials next quarter. Taluja said the underlying retail business is growing and continuing to deliver double-digit revenue growth on an aggregate basis. He also noted that some festive sales were moved to the September quarter, impacting their fashion business last quarter.