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Digital and new commerce business accounted for 18% of the total revenue of Reliance Retail in Q3 FY25
Reliance Retail’s operating revenue jumped 7% to INR 79,595 Cr during the quarter under review from INR 74,373 in the same quarter of previous year
Reliance said its flagship fashion ecommerce brand AJIO onboarded 1.9 Mn new customers during the quarter ended December 2024
Digital and new commerce businesses accounted for 18% of the total revenue of Reliance Retail in the third quarter (Q3) of the financial year 2024-25 (FY25).
Overall, Reliance Retail’s operating revenue jumped 7% to INR 79,595 Cr during the quarter under review from INR 74,373 during the corresponding quarter last fiscal. Net profit rose 10% to INR 3,458 Cr from INR 3,145 Cr in Q3 FY24.
On a sequential basis, net profit grew 21.9% from INR 2,836 Cr and operating revenue rose 19.6% from INR 66,502 Cr.
“… (the) retail segment delivered a strong performance, with noteworthy contribution(s) from all formats. The business ably capitalised on the pick-up in consumption amid festive demand during the quarter,” said Reliance Industries Ltd’s (RIL) chairman and managing director Mukesh Ambani.
The conglomerate said that its new commerce offering, JioMart, expanded its product range with a 33% year-on-year (YoY) increase in the seller base. RIL also said that JioMart continued to scale its express delivery proposition and saw a robust growth in its performance parameters.
According to the company, the express delivery model takes help from the company’s existing infrastructure of 2,100 stores. It also added that the express delivery is available in 4,000 pincodes in categories like grocery, general merchandise, electronics, fashion, among others.
“… 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,” said Isha Ambani, executive director of Reliance Retail Ventures.
The company also added that Milkbasket saw a 20% YoY growth in its monthly active users and 24% YoY growth in gross merchandise value (GMV).
Reliance said its flagship fashion ecommerce brand AJIO onboarded 1.9 Mn new customers during the quarter ended December 2024. Its average basket value (ABV) grew 7% YoY. “The platform (AJIO) expanded its product catalogue to 2.2 Mn, up 33% YoY adding over half a Mn new options during this year,” the company said in a statement.
Meanwhile, RIL’s digital arm Jio Platforms saw a 26% increase in its consolidated net profit to INR 6,861 Cr in Q3 FY25 from INR 5,447 Cr in the year-ago quarter.
