“Reliance Retail delivered a strong performance this quarter, led by our relentless focus on operational excellence, investments in stores and digital platforms and festive shopping across all consumption baskets. Changes in GST rates will further accelerate consumption growth as consumers benefit from lower prices. Our success is a testament to our deep understanding of the consumer,” said Isha Ambani, executive director of Reliance Retail Ventures.
Groceries and lifestyle stimulate growth
The grocery sector delivered a leading performance with 23% year-on-year growth, supported by festive buying and strong sales in core categories. Packaged foods grew by 20%, staples by 18% and home and personal care by 13%, while fruit and vegetable volumes rose by 62%. The company’s Full Paisa Vasool Sale delivered an overall growth of 19%, with the staples and HPC categories growing by 35% and 25% respectively.
Premium food format Freshpik posted comparable growth of 35%, while Metro Wholesale maintained its momentum with 20% growth in commodities and 15% in home care, hair care and air care categories. Reliance also launched a specialized corporate gift campaign titled A World of Gifts to meet the festive demand.
JioMart’s hyperlocal expansion
JioMart continued to strengthen its position as India’s fastest growing hyper-local commerce platform, now covering 5,000 PINs and over 1,000 cities. The platform added 5.8 million new customers, representing 120% quarter-over-quarter growth. Daily orders grew 42% sequentially and over 200% year-on-year as JioMart expanded its fast 30-minute delivery service to electronics and accessories across 10 cities.
Electronics sees a rise post-GST
Reliance’s consumer electronics segment grew 18% year-on-year, helped by the GST rate cut on September 22, which encouraged purchases after the announcement.
Sales of laptops increased by 37%, mobile phones by 22% and devices by 10%. Digital stores maintained strong growth momentum during the festive build-up despite temporary demand lulls before the GST change.
Also read: Reliance Jio Q2 results: Profit rises 13% YoY to Rs 7,379 crore; ARPU at Rs 211.4
Stable operational performance
Depreciation rose 8.9% year-on-year to Rs 1,547 crore, while financing costs remained stable at Rs 596 crore. Tax expenditure rose to Rs 1,216 crore from Rs 1,025 crore a year ago.
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