Reliance Retail Q1FY25 results: Net profit rises 4.6% YoY to ₹2,549 crore, revenue up 8.1% YoY - 5 key highlights

Reliance Retail, the retail arm of Reliance Industries, released its financial performance for the June ending quarter (Q1FY25) today after market hours, reporting an 8.10% YoY jump in revenue from operations to ₹75,630 crore. During the same period last year, the company reported a revenue of ₹69,962 crore.

It posted EBITDA at ₹5,664 crore, marking a 10.5% year-on-year increase. This growth was driven by higher footfalls, an expanded store footprint, and streamlined operations that improved margins. On the bottom line, the profit tax improved by 4.6% YoY to ₹2,549 crore. 

Store expansion continues: With a focus on store network expansion, the company expanded its network with 331 new store openings, bringing the total store count to 18,918 and the operational area to 81.3 million square feet. The quarter recorded footfalls exceeding 296 million, an 18.9% year-on-year growth.

In FY24, it opened over 3,300 stores, adding 25 million sq ft of store area, representing more than 50% growth in retail space YoY. The company emphasized its focus on scaling up digital commerce and new commerce, with these channels contributing 18% of total revenue.

The registered customer base during the quarter grew to 316 million, solidifying Reliance Retail's position as one of the most preferred retailers in the country. The business continued to invest in store development, platform enhancements, product design, and sourcing capabilities to further strengthen its value proposition to customers.

These initiatives are expected to sustain growth momentum in the near and medium term. 

More offerings: During the quarter, the company entered into a long-term licensing agreement with ASOS, the UK's leading online fashion retailer, to exclusively retail ASOS's curated portfolio of fashion-led own-brand labels across all online and offline channels in India.

Heatwaves drive white goods sales: The company's digital stores experienced steady growth, driven by increased demand for air conditioners and refrigerators during the summer season and televisions during events like the T20 World Cup and IPL. 

Luxury segment dominates: AJIO also performed well, expanding its product catalogue by over 20% compared to last year and adding over 1.9 million customers.

AJIO successfully executed its flagship marketing event, the 'Big Bold Sale,' which saw 21% higher traffic and 50% higher conversions compared to regular business days.

The Premium Brands business continued to lead the premium and luxury segments with the widest portfolio of brands. AJIO Luxe delivered robust growth, with options count increasing by 39% YoY and brand portfolio crossing 700 brands, according to company's earnings report. 

Healthy growth: The jewellery business reported steady growth, driven by the launch of new collections such as 'Vindhya' for Akshay Tritiya and the 'Vivaham' wedding collection. The business benefited from its outreach to customers during events and festivals particularly during Akshay Tritiya.

Meanwhile, JioMart delivered consistent performance, with the average bill value growing by 16% year-on-year. 

Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited, said, “Reliance Retail delivered resilient performance during the period and strengthened its position as India's foremost retailer. The steady expansion and growth of our retail business not only signifies our commitment to customer centricity but also mirrors the resilience and vitality of the Indian growth narrative. We continue to make strides in delivering better retail experiences for our customers as we embrace innovation to improve products, processes, and platforms, along with integrating advanced technologies."

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