Reliance Retail's profitability declined for a third straight quarter despite a 6.4% year-on-year rise in adjusted gross revenue to ₹91,716 crore. Operating earnings fell 8.6% as the firm incurred dark store establishment costs and a ₹108 crore impairment charge related to shuttering 7-Eleven outlets. Rising debt and elevated interest rates further strained the bottom line, driving finance costs up 53.9% to ₹905 crore. Meanwhile, the retailer pruned non-performing brick-and-mortar assets to support its ongoing omnichannel pivot.
Key points
Profits from traditional offline stores are actively financing the expansion of digital c…: Profits from traditional offline stores are actively financing the expansion of digital commerce and B2B channels.
Management expects the growing grocery and fashion e-commerce operations to deliver signi…: Management expects the growing grocery and fashion e-commerce operations to deliver significant value in FY28 and FY29.
Strategic pruning of unproductive sites resulted in a net store count reduction of 222 lo…: Strategic pruning of unproductive sites resulted in a net store count reduction of 222 locations during the quarter.
Sources checked by our analysis pipeline: 1
India's largest retailer attributed the hit on profitability for a third straight quarter to planned investments in quick commerce such as dark stores, along with absorbing input cost rise to shield demand and a shift in the festive season compared to last year. It said in the earnings call that the share of ecommerce to total grocery and fashion sales have gone up, and expect to drive value from ecommerce in FY28 and FY29.
Gross revenue rose 6.4% year on year to ₹91,716 crore after adjusting for the demerger of the consumer brands business in December last year. Earnings before interest, taxes, depreciation and amortisation (Ebitda), before one-time impairment charge of ₹108 crore from closure of 7-Eleven stores, was at ₹6,228 crore was down 8.6% YoY, while Ebitda margin stood at 7.8%.
The company said finance costs went up 53.9% YoY at ₹905 crore due to higher borrowing and interest rates. Reliance Retail Ventures executive director Isha M Ambani said the company is building a future-ready retail business by combining an extensive physical network with digital convenience, technology and a…
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