Reliance Retail posts 6.2% net profit growth in Q3 FY2023

Its net profit stood at INR2,400 crore during the quarter. 

Reliance Retail reported its net profit grew by 6.2% to INR2,400 crore in the third quarter of 2023, ending in December 2022. 

In the first nine months of the year, Reliance Retail’s profit also climbed to INR6,766 crore, up from only INR4,916 crore in the same period in the fiscal year 2022. 

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Over the third quarter, the company’s revenue grew by 17.2% year-on-year to INR67,623 crore, driven by well-rounded growth across all baskets and channels. 

“Our performance during the quarter demonstrates the underlying strengths and efficiencies of our business model that enable us to serve our customers with excellence at all times,” Isha M Ambani, Executive Director, Reliance Retail Ventures Limited, said.

“We remain steadfast in offering the best shopping experience across all our stores and digital platforms to deepen our bond with our customers and vendor partners.”