Reliance Retail profit fell 24.5% from a year earlier to ₹2,619 crore in the quarter ended September 2026, even as revenue from operations rose 5.8% to ₹80,220 crore. The company attributed the pressure on profitability to quick-commerce investment, higher input costs and a shift in the festive season.

Key Takeaways

  • Gross revenue rose 6.4% to ₹91,716 crore after adjustment for the consumer brands business demerger.
  • Finance costs increased 53.9% to ₹905 crore, which the company attributed to higher borrowing and interest rates.
  • Reliance Retail opened 303 stores but ended September with 222 fewer stores than at the end of June.

Reliance Retail profit and sales

The company said the festive-season shift also contributed to muted revenue growth. Transactions nevertheless increased 7% year over year during the quarter.

Gross revenue growth was calculated after adjusting for the demerger of the consumer brands business in December 2025. Gross revenue at the fast-moving consumer goods business run by Reliance Consumer Products rose to ₹8,266 crore, 1.6 times its year-earlier level.

Earnings before interest, taxes, depreciation and amortization, or EBITDA, fell 8.6% to ₹6,228 crore before a one-time ₹108 crore impairment charge associated with 7-Eleven store closures. The company reported an EBITDA margin of 7.8%.

Digital investment and store changes

Reliance Retail said its profitability was affected for a third consecutive quarter by planned investments in quick commerce, including dark stores, and by its decision to absorb higher input costs to protect demand.

The company said e-commerce accounted for a growing share of grocery and fashion sales. Its retail formats and digital platforms include grocery and fashion stores, fashion platform AJIO and cross-category platform JioMart.

Executive director Isha M. Ambani said the company’s digital commerce and business-to-business channels were being funded by profits from the offline business. On its earnings call, the company said it expected to drive value from e-commerce in FY28 and FY29; that is an expectation rather than a completed result.

The retailer ended September with 19,947 stores. Despite opening 303 during the quarter, its store count declined by a net 222 from the preceding quarter as unproductive locations closed.

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