Reliance Retail Q3 revenues stood at Rs 33,018 crore; added over 50,000 new jobs

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26 Aug, 2025 12:21

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Reliance Retail Ventures Ltd (RRVL), Reliance Industries Ltd's retail arm, on January 22 reported a 9.7 percent drop in revenue from operations at Rs 33,018 crore for the third quarter ended December 31, 2020, as compared to Rs 36,566 crore in the previous quarter.

The retail business for the Mukesh Ambani-led company delivered a healthy performance with record profit delivery in an operating environment that continued to remain challenging with sporadic COVID-19 related restrictions and local issues.

"At a time when the Indian economy is poised for a confident recovery, we at Reliance are humbled that we have been able to contribute to it with our company’s impressive performance in the third quarter of FY21," Mukesh D. Ambani, Chairman and Managing Director, RIL, said.

"We have delivered strong operational results during the quarter with a robust revival in O2C and Retail segments, and steady growth in our Digital Services business. I am proud that Reliance has employed 50,000 more people since March 2020," he added.

Value of Sales and Services for 3QFY21 decreased by 8 percent on a QoQ basis to Rs 37,845 crore while EBITDA for 3Q FY21 increased by 54 percent QoQ to a record Rs 3,087 crore, with an underlying operating margin (excluding the impact of the investment income) at 7 percent, coming in ahead of last quarter and the same time last year.

The retail segment includes consumer retail and a range of related services.

RRVL completed the capital raise of Rs 47,265 crore for a 10.09 percent equity stake. This is the largest fund raise in the sector.

Highlights:

Impact on Revenues:

Overall revenue, which apart of being impacted by the challenging operating conditions, was further affected by (i) the transfer out of the fuel retailing business to the RIL-BP JV and (ii) the decision to convert Reliance Market stores to fulfillment centers to enable city expansion of New Commerce.

EBITDA:

EBITDA for the quarter stood at Rs 3,087 crore ($ 422 million) which was higher by 53.9 percent on a quarter-on-quarter basis

Net Profit:

Net profit for the quarter stood at Rs 1,830 crore ($ 250 million) higher by 88.1 percent QoQ. Cash Profit for the quarter stood at Rs 2,482 crore ($ 340 million) higher by 76.3 percent QoQ.

Store Opening:

12,201 operational physical stores; 327 stores opened during the quarter. The area of operation – 31.2 million sq. feet as compared to 29.7 million sq. feet in trailing quarter

Business Expansion:

The Grocery business and Electronics stores sustained double-digit growth. The fashion and Lifestyle business delivered a strong rebound, surpassing pre-COVID levels. The business accelerated the pace of new store expansion with the opening of 327 stores.

Job Creation:

Reliance Retail has added over 50,000 new jobs since the beginning of pandemic

Disclaimer: Reliance Industries Ltd is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd.