Reliance Retail Q3 net profit rises 2% to ₹3,558 crore, revenue jumps record ₹97,605 crore. Details here

Reliance Industries announced the financial results for the October to December quarter on Friday, 16 January. The conglomerate's retail arm, Reliance Retail, reported net profit of 3,558 crore for the quarter ended 31 December 2025, up 2% from the same quarter the previous year.

The company reported the highest-ever gross revenue of ₹97,605 crore, up around 8% year on year. However, growth was impacted by GST rate rationalisation, a split in festive demand between Q2 and Q3, and the demerger of Reliance Consumer Products (RCPL) from Reliance.

EBITDA margin stood at ₹6,915 crore, impacted by festive discounts, investments in quick commerce, and the new Labour Code. EBITDA is earnings before interest, taxes, depreciation, and amortisation and is an indicator of core operations.

Reliance Retail operates in various sectors, including grocery, consumer electronics, fashion and lifestyle, and online commerce.

Isha Ambani on quarterly results

Speaking on the Q3 show, Isha Ambani, Executive Director of Reliance Retail, said, “Reliance Retail delivered a steady quarterly performance, serving millions of customers across their shopping needs. By prioritising trend-focused assortments and seamless omnichannel experiences, we continue to foster strong customer engagement and loyalty. As we navigate a shifting consumer landscape, we remain steadfast in our vision to redefine Indian retail through innovation and excellence.”

Meanwhile, Dinesh Taluja, chief financial officer of Reliance Retail, said in a media briefing that GST rate rationalisation and the split in festive demand weighed on the results."If you remember we had a very strong Q2 this year", he said, referring to festive season sales that reflected in the September quarter. Also, the demerger of RCPL meant revenues for this business is no longer reflecting in Reliance Retail, he added.

Investments in the hyperlocal commerce business also affected the Reliance Retail balance sheet.

"Hyperlocal commerce we are scaling up very rapidly. We are scaling up this business very very quickly. All our metrics show a healthy trend. “We have the largest footprint, through 3000+ stores, a combination of walk-in and dark stores. We have the widest reach in the country compared to any quick commerce players,” he said.

Customers for hyperlocal delivery are up 43% year on year, he said, and that customer loyalty was driven by repeat purchases of fruit and vegetables, a daily need that is Reliance JioMart's strong suit, Taluja said.

Besides this, Reliance executives said in a briefing that Reliance Consumer's Independence brand of staples and bottled water crossed ₹1,500 crore in revenue and that the company now has 4 brands that have crossed ₹1,000 crore in revenue -- Campa, Campa Energy, Independence, and staples brand Good Life.

Morgan Stanley said in a December 2025 report that Reliance Retail should grow 17% CAGR between FY25- 28, and consumer brands ramp up and the quick commerce business scales up.