Reliance Retail Q2 Results: Profit jumps 22% YoY to Rs 3,457 crore; revenue up 19%

Reliance Retail on Friday reported 22% year-on-year (YoY) growth in its net profit at Rs 3,457 crore in the second quarter. Revenues increased 19% YoY to Rs 79,128 crore. Reported EBITDA, including investment income, stood at Rs 6,816 crore, with margins stable at 8.6%.

"Reliance Retail delivered a strong performance during the quarter, led by our relentless focus on operational excellence, investments in stores and digital platforms, and festive buying across consumption baskets. GST rate changes will further accelerate consumption growth as consumers get the benefit of lower prices. Our success is a testament to our deep understanding of the consumer," said Isha Ambani, Executive Director, Reliance Retail Ventures.

Grocery and lifestyle drive growth

The grocery business delivered an industry-leading performance with 23% year-on-year growth, supported by festive buying and strong sales across core categories.

Packaged foods grew 20%, staples 18%, and home and personal care 13%, while fruit and vegetable volumes surged 62%. The company’s Full Paisa Vasool Sale drove a 19% overall growth, with staples and HPC categories growing 35% and 25% respectively.

Premium food format Freshpik posted 35% like-for-like growth, while Metro Wholesale maintained its momentum with 20% growth in commodities and 15% growth across home care, hair care, and air care categories. Reliance also launched a specialised corporate gifting campaign titled A World of Gifts to capture festive demand.

JioMart’s hyperlocal expansion

JioMart continued to strengthen its position as India’s fastest-growing hyperlocal commerce platform, now covering 5,000 pin codes and more than 1,000 cities. The platform added 5.8 million new customers, marking a 120% quarter-on-quarter growth.

Daily orders grew 42% sequentially and over 200% year-on-year, as JioMart expanded its 30-minute quick delivery service to electronics and accessories across 10 cities.

Electronics sees post-GST surge

Reliance’s consumer electronics segment grew 18% year-on-year, aided by the GST rate reduction on September 22, which spurred post-announcement buying.

Laptops saw a 37% rise in sales, mobiles 22%, and appliances 10%. Digital stores maintained strong growth momentum through the festive build-up despite temporary demand pauses before the GST change.

Also read: Reliance Jio Q2 Results: Profit rises 13% YoY to Rs 7,379 crore; ARPU at Rs 211.4

Steady operating performance

Depreciation rose 8.9% year-on-year to Rs 1,547 crore, while finance costs were steady at Rs 596 crore. Tax expenses increased to Rs 1,216 crore from Rs 1,025 crore a year ago.