Reliance Retail’s Q3 PAT Up 10% Y/Y At Rs34.85 Bn
FinTech BizNews Service
Mumbai, January 16, 2025: The Financial and Operational Performance of Reliance Retail Ventures Limited (RRVL) for the Quarter and Nine Months ended 31st December 2024 have been announced today.
Highlights
CONSOLIDATED RELIANCE RETAIL VENTURES LIMITED (“RRVL”) QUARTERLY REVENUE AT Rs 90,333 CRORE, UP 8.8% Y-o-Y QUARTERLY EBITDA AT Rs 6,828 CRORE, UP 9.5% Y-o-Y
TOTAL FOOTFALL OF 296 MILLION ACROSS FORMATS; 779 NEW STORES OPENED
Quarterly Performance (3Q FY25 vs 3Q FY24)
Business registered a revenue of Rs 90,333 crore, up 8.8% Y-o-Y and 18.4% Q-o-Q.
Strong sequential growth driven by several productivity improvement initiatives and increased
customer engagement during festive period through new product launches and promotions.
EBITDA from operations was at Rs 6,632 crore, up 9.8% Y-o-Y. EBITDA margin from operations at 8.3%, up 20 bps Y-o-Y.
Business reported EBITDA at Rs 6,828 crore which was up 9.5% Y-o-Y. EBITDA margin at 8.6%, up 20 bps Y-o-Y.
Depreciation for 3Q FY25 at Rs 1,507 crore, up 8.9% Y-o-Y.
Quarterly Performance, 204-25
The business opened 779 new stores. Total store count at 19,102 with area under operation at 77.4 million sq. ft.
The quarter recorded footfalls of over 296 million, a growth of 5% Y-o-Y.
The registered customer base grew to 338 million, making Reliance Retail one of the most preferred retailers in the country.
The focus on scaling up Digital Commerce and New Commerce continued with these channels contributing to 18% of total revenue.
B2C Grocery grew by 37% Y-o-Y reflecting rapid growth at significantly higher scale relative to other
offline and online grocery players.
Business witnessed strong turnaround in Fashion & Lifestyle consumption basket during the quarter.
Premium Brands business entered into India franchise arrangement for Saks Fifth Avenue. The
business also entered into JV with Mothercare PLC to acquire Mothercare brand and its IP assets for
Indian subcontinent.
Consumer Electronics
Offline Business delivered strong growth during the quarter, driven by festive and wedding seasons leading to growth in ABV (Average Bill Value) and conversions.
The festive period saw strong sales, fueled by new product launches and attractive promotions,
resulting in a 12% Y-o-Y growth.
resQ, the service organization of the consumer electronics business, maintained steady growth; on-
demand services expanded to 75 additional cities taking total coverage to 225 cities.
Own Brands / PBG business expanded its portfolio with new product launches, and the merchant
base grew by 75% Y-o-Y.
The JioMart Digital (JMD) business continued its growth momentum, supported by strong sales in
mobile phones and increasing wallet share of merchant partners.
Fashion and Lifestyle
Apparel & Footwear business witnessed a strong bounce back led by launch of trendy designs and
improved store experience.
Business introduced beauty and sleepwear categories across store formats to further strengthen its
value proposition.
Continued focus on expanding new formats, including Yousta and Azorte. GAP helped gain strong
consumer traction and register highest ever sales for these formats during the period.
The portfolio of Own Brands is being strengthened with new option launches. Avaasa, Netplay, and
DNMX continued to perform well and are growing to become leading brands in the country in
respective categories.
AJIO delivered steady performance led by higher ABV which was up 7% Y-o-Y and added over 1.9
million new customers.
The Platform expanded its product catalogue to 2.2 million, up 33% Y-o-Y adding over half a million
new options during this year.
AJIO strengthened its portfolio through new brand launches like ON, Forever 21, Saucony, etc.
Premium Brands business strengthened its portfolio with launch of EL&N Café and Sandro. Global
expansion of owned Intellectual Properties remained strong focus area for the business. Hamleys
expanded its store network internationally with store openings in Italy during this period. AFEW by
Rahul Mishra and AKOK by Anamika Khanna expanded their presence in the US with an exclusive
launch at Saks Fifth Avenue’s New York store.
Jewelry business had a good festive performance and delivered growth led by improvement in ABVs.
The business launched new range under the Vivaham collection during the period to serve the
wedding season.
Grocery
Grocery B2C business maintained its strong growth momentum with 37% growth Y-o-Y led by big
box format.
There was growth across categories, with general merchandise and value apparel growing at 20% Y-
o-Y and premium personal care and beauty growing 16% Y-o-Y.
The business successfully executed ‘Tyohaar Ready’ sale recording the highest-ever festive sales.
Metro business achieved highest ever festive sales. The business executed multiple festive
campaigns like ‘Shubh Muhurat Campaign’, “Har Shaadi Ke Liye Taiyaar – Shubh Bandhan Ki
Shuruwat, METRO Ke Saath” to drive growth.
JioMart
• JioMart expanded the product range with a 33% Y-o-Y increase in the seller base.
‘JioUtsav’ festive campaign was successfully executed, resulting in a 1.5X increase in GMV.
• JioMart continued to scale its express delivery proposition with robust growth in performance
parameters. The operating model leverages existing infrastructure enabled through a network of
2,100 stores, leading to strong unit economics.
• The proposition is being operated across 4,000 pin codes using a hyperlocal model capturing larger
basket size through full range of grocery, general merchandise, electronics and fashion categories
thereby resulting in industry leading AOV.
• Milkbasket saw a 20% Y-o-Y growth in monthly active users and 24% Y-o-Y growth in GMV.
Consumer Brands
Consumer brands continued to deliver growth across categories with 9M FY25 revenue at ~₹ 8,000
crore.
Campa & Independence brands continued to gain traction across markets; Campa has 10%+ market
share in sparkling beverage category in select states. Both brands are projected to cross ₹ 1,000
crore turnover each in FY25.
The business continued to deepen presence in General Trade; delivered 300%+ Y-o-Y growth as it
expanded reach through a network of distributors and merchant outlets across the country.
Business strengthened product portfolio with acquisition of Tagz Foods and launch of an energy
boosting and re-hydrating beverage ‘RasKik’ Gluco Energy.
LEADERSHIP QUOTE
Isha M. Ambani, Executive Director, Reliance Retail Ventures Limited, said “Reliance Retail delivered
strong performance during the quarter led by festive buying across consumption baskets. Our focus on
offering wide range of products at an attractive price value proposition continues to draw customers to
our stores and digital platforms. We are creating through JioMart – express deliveries, scheduled
deliveries coupled with Milkbasket - subscription services, a seamless shopping experience that serves
diverse customers across all categories and catchment”.
