trust Retail Ventures Ltd., the consumer arm of Mukesh Ambani-led diversified conglomerate Reliance Group, reported a 10% year-on-year rise in its profit after tax (PAT) for the quarter ended December 31 2024. During this period, Reliance Retail Ventures’ (RRVL) PAT was Rs 3,458 crore, up from Rs 3,145 crore in the same quarter of the previous year.

Operating income also grew by 7% compared to the previous year to Rs 79,595 crore from Rs 74,373 crore. This led to a 3.3% increase in operating income to Rs 212,357 crore in the nine-month period from April to December 2024, up from Rs 205,469 crore reported in the same period a year earlier .

“The retail segment delivered a strong performance, with an outstanding contribution from all formats. The company ably capitalized on increased consumption amid festive demand during the quarter,” Mukesh Ambani, chairman and managing director of Reliance Industries said in a statement.

In the third quarter of FY2025, RRVL improved its earnings before interest, tax, depreciation and amortization (EBITDA) by 9.8% year-on-year to Rs 6,828 crore, to Rs 6,238 crore. EBITDA margin was flat at 8.6%, up 20 basis points from 8.4% in Q3 FY24, but down 20bps sequentially. One basis point is equal to one-hundredth of a percentage point.

Despite being a festive quarter, the footfall at Reliance outlets declined from the previous quarter. In the last quarter, the company recorded 296 million visits to its stores, down from 297 million in the second quarter of fiscal 2025, while it increased by 5% year-on-year from 282 million in the third quarter of l fiscal year 2024.

According to Ambani, a superior understanding of customer needs and preferences enabled Reliance Retail to serve a wide variety of demographic profiles “with the right product, at the right time, through the right channel”. “With customer-centric innovation at its core, the business constantly strives to improve its customers’ shopping experience through its broad reach and ever-expanding product basket,” he added.

While RRVL added 779 new stores to its portfolio, taking the total number of stores under its umbrella to 19,102, the area operated by the retail giant declined sequentially. In the third quarter, the area operated was 77.4 million square feet, down from 79.4 million square feet. in the second quarter, but more than the 72.9 million square feet. in the third quarter of the 2024 financial year.

According to the company, its grocery business grew at a healthy rate of 37% year-over-year led by the big box format. There was cross-category growth, with general merchandise and value apparel growing 20% ​​year-on-year and premium personal care and beauty growing 16% year-on-year, while the Metro business achieved festive sales highest in history. JioMart expanded the product range with a 33% year-on-year increase in seller base, while Milkbasket saw 20% year-on-year growth in monthly active users and 24% year-on-year growth in its GMV.

Consumer brands continued to grow across all categories with nine-month FY2025 revenue of Rs 8,000 crore. Campa & Independence – Two of its flagship FMCG brands gained traction in the markets. According to the company, Campa has more than 10% market share in the carbonated beverage category in select states. Both brands are expected to cross a turnover of Rs 1,000 crore each in FY25.

“Reliance Retail performed well during the quarter, led by festive shopping in consumer baskets. Our focus on offering a wide range of products at an attractive value proposition continues to attract customers to our stores and digital platforms. We are creating through JioMart – rush deliveries, scheduled deliveries along with Milkbasket, subscription services, a seamless shopping experience that serves diverse customers across categories and catchment,” said Isha Ambani, Chief Executive Officer of RRVL.