Reliance Retail Ventures Limited Reports Q1 FY27 Gross Revenue of ₹90,408 Crore: Digital Commerce Surges Across Consumption Baskets

Reliance Retail Ventures Limited (RRVL) has announced its financial and operational results for the first quarter of the fiscal year 2026-27 (Q1 FY27), ended June 30, 2026. India's largest retailer delivered a resilient top-line performance, driven by double-digit underlying volume expansion across Consumer Electronics, Fashion & Lifestyle, and Grocery baskets, alongside significant digital commerce momentum.

Income and Profitability Breakdown

For the quarter ended June 30, 2026, Reliance Retail Ventures Limited posted a Gross Revenue of ₹90,408 crore, reflecting a 7.4% year-on-year (YoY) increase compared to ₹84,171 crore in Q1 FY26. On an adjusted basis-factoring in the demerger of the Consumer Brands business-gross revenue demonstrated an underlying growth of 11.6% YoY. Revenue from Operations reached ₹79,745 crore, rising 8.2% YoY from ₹73,720 crore in the baseline period.

EBITDA Performance: Consolidated EBITDA stood at ₹6,309 crore, down 1.1% YoY from ₹6,381 crore in Q1 FY26. EBITDA from operations reached ₹5,935 crore (down 1.8% YoY), supplemented by investment income of ₹374 crore (up 11.0% YoY).

Margin Dynamics: The consolidated EBITDA margin (calculated on Revenue from Operations) settled at 7.9%, a moderation of 80 basis points YoY from 8.7%. Operating EBITDA margin was 7.4%. The margin compression reflects a growing revenue contribution from digital commerce platforms and parallel investments in fulfillment infrastructure, which expanded fixed overhead costs.

Profit After Tax (PAT): PAT for the quarter came in at ₹2,805 crore (including share of associates and joint ventures), down 14.1% YoY from ₹3,267 crore in Q1 FY26. Bottom-line performance was impacted by higher finance costs of ₹793 crore (up 34.0% YoY) and increased depreciation charges of ₹1,780 crore (up 17.5% YoY). Tax expenses for Q1 FY27 were ₹930 crore.

Operational Scale and Footprint Expansion

Reliance Retail continued to broaden its physical network and customer touchpoints during the quarter:

Store Network: The business opened 252 new stores in Q1 FY27, bringing the total operational store count to 20,169 locations spanning 78.4 million square feet across India.

Customer Base: The registered customer base expanded by 10.6% YoY to reach 396 million, up from 358 million in Q1 FY26 and 387 million in Q4 FY26.

Transaction Volumes: Total recorded transactions surged 46.0% YoY to 568 million, reflecting deeper engagement across both offline and digital touchpoints.

Key Performance Highlights (Q1 FY27)

Gross Revenue: ₹90,408 crore (▲ 11.6% YoY adjusted for Consumer Brands demerger)

Registered Customer Base: 396 million (▲ 10.6% YoY)

Transaction Volume: 568 million (▲ 46.0% YoY)

Store Footprint: 20,169 stores across 78.4 million sq. ft.

ResQ Service Revenue: Up 27% YoY

Performance Across Core Consumption Baskets

1. Consumer Electronics

The Consumer Electronics segment sustained strong momentum, posting Like-for-Like (LFL) revenue growth of 16% YoY. Broad-based demand was recorded across key categories including Air Conditioners, Laptops, Mobile Devices, and Small Appliances, supported by consumer campaigns like 'Digital Chill Fest', 'Boot Up India', and 'Digital Discounts'. Omni-channel integration improved fulfillment capabilities, while the ResQ service arm logged 27% YoY revenue growth.

2. Fashion & Lifestyle

The Fashion & Lifestyle vertical recorded an LFL revenue growth of 4% YoY, driven by new merchandise lines and store revamps.

Own Brands: Internal proprietary brands gained traction, increasing their revenue contribution by 380 bps YoY.

Digital Integration: Digital Commerce contributed 27.3% to total Apparel & Footwear revenues (+490 bps YoY).

E-Commerce Formats: The rapid delivery platform Ajio Rush delivered a 136% quarter-on-quarter (QoQ) increase in order volume. Shein crossed over 30 million app installs, and Ajio Luxe expanded its portfolio to over 1,000 brands.

3. Grocery and B2B Operations

The Grocery business maintained steady momentum with an LFL growth of 7% YoY, led by core categories such as Staples, Dairy, Frozen, and Bakery products. The 'Full Paisa Vasool Sale' served as a primary demand driver. Omni-channel shoppers demonstrated significantly higher lifetime value, spending 2.7 times more than exclusive offline customers.

In the B2B division, growth was driven by a 15% YoY increase in Average Order Value (ABV) alongside higher overall transaction numbers, bolstered by targeted merchant campaigns including 'Bachat ki Baarish' and 'Home Utsav'.

4. JioMart Progress

JioMart expanded its digital ecosystem during Q1 FY27:

Service Reach: The platform services approximately 5,500 pin codes, with over 2,500 Digital and Fashion & Lifestyle stores integrated for two-hour express deliveries.

Order Growth: Average daily orders for Grocery Digital Commerce jumped 116% YoY, bringing the digital channel share to 13.4% of B2C Grocery revenue (+160 bps YoY).

Platform Upgrades: A redesigned JioMart mobile application went live for all users during the quarter, while the active seller base expanded by 26% YoY.

Reflecting on the quarterly results, Ms. Isha M. Ambani, Executive Director of Reliance Retail Ventures Limited, stated: "Reliance Retail delivered resilient performance in Q1 FY27, with growth across the key consumptions baskets. Our continued investment in digital commerce underscores the transformative power of our digital platforms. Our expanding customer base, widest store network, and growing omni-channel capabilities position us well to continue fulfilling every need, every dream, for every Indian, every day."

Shares of Reliance Industries Limited was last trading in BSE at Rs. 1326.50 as compared to the previous close of Rs. 1293.00. The total number of shares traded during the day was 848885 in over 20533 trades.

The stock hit an intraday high of Rs. 1329.95 and intraday low of 1295.60. The net turnover during the day was Rs. 1121232218.00.

Source : Equity Bulls

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RelianceIndustries INE002A01018 RIL RelianceRetailVentures Q1FY27 Q1FY2027 ResultUpdate