Reliance Retail Ventures Ltd (RRVL) reported a 24.3 per cent year-on-year decline in consolidated profit after tax, including its share of associates and joint ventures, to ₹2,611 crore in July–September 2026 from ₹3,451 crore a year earlier, as digital-commerce investments, input-cost inflation and higher finance costs weighed on earnings.
Consolidated revenue from operations increased 5.8 per cent to ₹80,220 crore from ₹75,836 crore. Gross revenue rose 6.4 per cent to ₹91,716 crore from ₹86,169 crore, adjusted for the consumer brands demerger.
Isha M Ambani, Executive Director, RRVL, said: “The new model with fast growing Digital Commerce and B2B channels is working and funded by the profits of offline business.”
EBITDA before impairment declined 8.6 per cent to ₹6,228 crore from ₹6,816 crore, with the margin narrowing 120 basis points to 7.8 per cent. A ₹108-crore impairment relating to 7-Eleven reduced reported EBITDA to ₹6,120 crore. Finance costs rose 53.9 per cent to ₹905 crore.
Reliance attributed margin pressure to digital-commerce investments, absorbed input-cost inflation and the festive calendar shifting into the December quarter.
Its investor presentation identified FY27 as a period for building online scale, with FY28–FY29 focused on converting that scale into value through improved productivity, marketplace income and cash generation.
JioMart’s online grocery revenue grew 42 per cent. Reliance opened 303 stores, but its network contracted by 222 outlets from June following closures of unproductive locations, leaving 19,947 stores.
Reliance Consumer Products Ltd (RCPL) reported approximately 60 per cent year-on-year growth in quarterly gross revenue to ₹8,266 crore. First-half gross revenue reached ₹16,900 crore, about 1.8 times the year-earlier level.
Unlike Reliance Retail, for which RIL provided separate quarterly financial results, RCPL’s performance was presented through gross revenue and operating indicators. Its consolidated profit attributable to shareholders, revenue from operations and EBITDA were not separately disclosed in the media release or investor presentation.
Reliance Industries Chairman Mukesh D Ambani said: “Our consumer products business kept its growth momentum, with the FMCG brand portfolio gaining further ground among Indian consumers.”
Campa-led beverages generated more than ₹5,250 crore in first-half sales, growing 2.1 times year-on-year and exceeding 90 per cent of FY26 sales. Independence-led daily essentials contributed approximately ₹7,000 crore, about 1.7 times the year-earlier level.
RCPL initiated six integrated greenfield food and beverage manufacturing projects and commissioned additional high-speed beverage production lines. The company did not disclose the projects’ investment outlays.
Campa entered Australian supermarket chains Coles and Woolworths, supported by local production. RCPL also expanded its presence in Kenya, the UAE, Oman and Malaysia.
Published on October 30, 2026
