New Commerce Contributes 19% To Reliance Retail’s Q3 Revenue; Entertainment Biz Sees Decline

New Commerce Contributes 19% To Reliance Retail’s Q3 Revenue; Entertainment Biz Sees Decline

SUMMARY

Digital and new commerce business contributed 19% in the previous quarter as well, but Reliance Retail’s operating revenue rose 23.8% YoY to INR 74,373 Cr in Q3 

Reliance’s massive entertainment business saw a 12% decline in operating revenue (YoY) due to movie and sports segments

The fashion & lifestyle business delivered a 28% YoY growth, Reliance said, while the consumer electronics business saw 19% rise in gross revenue

Reliance Retail’s digital and new commerce businesses accounted for 19% of the total revenue for the retail giant in Q3 FY24 (December 2023 quarter), with the contribution remaining flat on a quarter-on-quarter (QoQ) basis.

Digital and new commerce business contributed 19% in the previous quarter as well, but Reliance Retail’s operating revenue rose 23.8% year-on-year (YoY) to INR 74,373 Cr in Q3 FY23. Reliance Retail reported a 31.87% rise in its net profits in Q3 to INR 3,165 Cr.

No results were found for "".
  • «
  • 1
  • »
modal lock

Continue Reading With A Free Inc42 Account

Get the most out of your Inc42 experience by creating a free account. Enjoy personalized recommendations, ad-lite browsing, and access to our exclusive newsletters.