Latest news with #Azorte
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Business Standard
a day ago
- Business
- Business Standard
Reliance Retail Q1FY26 results: Net profit soars 33.2% to ₹3,267 crore
Reliance Retail Ventures Limited (RRVL) on Friday reported a 33.2% year-on-year rise in its net profit, reaching Rs 3,267 crore for the first quarter of the financial year 2025-26 (FY26). Executive director Isha Ambani said, 'Reliance Retail delivered resilient performance during this quarter, driven by our relentless focus on operational excellence, geographical expansion, and a sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility." Reliance Retail's EBITDA (earnings before interest, taxes, depreciation, and amortisation) from operations increased 10.9% to Rs 6,044 crore. The firm's revenue from operations stood at Rs 73,720 crore, up 11.3% year-on-year, while its gross revenue also rose by 11.3% to Rs 84,171 crore. Sequentially, revenue from operations decreased by 6.2%, and net profit dropped by 7.2%. Mukesh Ambani, chairman and managing director of Reliance Industries, said in a statement, 'Retail's business performance registered customer base expansion to 358 million, along with significant improvement across operating metrics.' He added, 'We are focusing on strengthening the portfolio of our own FMCG brands, which resonate with the tastes of Indian consumers. Our Retail business continues to enhance its ability to fulfil everyday as well as specialised needs of all customer cohorts, through a multi-channel approach.' During the quarter, the company opened 388 new stores, taking its total store count to 19,592 with a total area of 77.6 million square feet. For the quarter ended June, its finance cost was up 7.6% year-on-year, totalling Rs 592 crore. The company's registered customer base grew to 358 million, making Reliance Retail one of the most preferred retailers in the country, according to its release. The company also highlighted that JioMart continued to expand quick hyper-local deliveries, registering a 68% quarter-on-quarter growth and 175% year-on-year growth in daily orders. Reliance Retail's consumer electronics business achieved steady growth, driven by a 26% increase in average bill value and a 200 basis point increase in conversions year-on-year. However, air conditioner sales were impacted due to the early onset of the monsoon, the company said. Its fashion and lifestyle business experienced growth in revenue and EBITDA, driven by new store formats and strong performance of its own brands. 'Growth has picked up with multiple initiatives undertaken in the last four quarters, including Reliance Trends launching in-trend designs and improving store experiences. Emerging formats of GAP, Azorte, and Yousta registered a 59% year-on-year growth, now operating in over 170 stores,' RRVL said in its release. It added that Shein continues to receive strong traction, crossing 2 million app downloads and over 20,000 live options. The grocery business also continued to grow at scale, consolidating its market leadership position, the company stated. It saw broad-based growth across categories, with home and personal care (HPC) growing at 15% year-on-year, fruits and vegetables growing at 15%, and packaged foods growing at 13%. 'The Metro format has seen strong growth momentum during the quarter, with key categories like home and personal care growing 25% year-on-year. Hot beverages and dry fruits & nuts each grew by 20% year-on-year. The business launched its 'Elite' loyalty program across customer cohorts during the quarter,' it said. Its quick hyper-local commerce saw a strong pick-up in daily orders, with 68% quarter-on-quarter growth and 175% year-on-year growth. Additionally, operations were scaled to 4,290 pin codes, serviced by over 2,200 stores in more than 1,000 cities.
Economic Times
a day ago
- Business
- Economic Times
Reliance Retail Q1 profit rises 28% to Rs 3,271 crore despite early monsoon impact
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Reliance Retail on Friday said its biggest segment - consumer electronics and devices was impacted due to early onset of monsoons but recovery is underway after reporting 11% sales growth in the first quarter of 2025-26. Reliance Industries ' retail division, which operated 19,592 stores at the end of June, selling grocery, consumer electronics and apparel, posted net revenue of Rs 73,720 crore for the April-June period. Net profit increased 28% from a year earlier to Rs 3271 crore, while gross revenue increased 11% to Rs 84,171 crore."Retail's business performance registered customer base expanded to 358 million, along with significant improvement across operating metrics,' Reliance Industries chairman and managing director Mukesh Ambani Retail opened 388 new stores in the first quarter and had 77.6 million sq ft of retail space as of continued to expand quick hyper local deliveries posting 68% growth and 175% growth in daily orders. Consumer electronics business was driven by an average bill value growth, up 26%, and conversions increased 200 bps. AC sales, however, were impacted due to early onset of the fashion and lifestyle division, growth has picked up with multiple initiatives undertaken in the last four quarters, and emerging formats of GAP, Azorte, and Yousta posting 59% growth, which now operate over 170 stores. Within grocery, it saw broad based growth across categories with home and personal care growing at 15%, fruits and vegetables growing at 15% while packaged foods expanded 13%Reliance's consumer products business, which sells Campa and Independence, recorded sales of Rs 4400 crore during the quarter.'Reliance Retail delivered resilient performance during this quarter driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility,' said Isha Ambani, executive director, Reliance Retail Ventures.
Time of India
a day ago
- Business
- Time of India
Reliance Retail Q1 profit rises 28% to Rs 3,271 crore despite early monsoon impact
Reliance Retail on Friday said its biggest segment - consumer electronics and devices was impacted due to early onset of monsoons but recovery is underway after reporting 11% sales growth in the first quarter of 2025-26. Reliance Industries ' retail division, which operated 19,592 stores at the end of June, selling grocery, consumer electronics and apparel, posted net revenue of Rs 73,720 crore for the April-June period. Net profit increased 28% from a year earlier to Rs 3271 crore, while gross revenue increased 11% to Rs 84,171 crore. Explore courses from Top Institutes in Select a Course Category Healthcare Degree Design Thinking others Data Science Data Analytics Product Management Technology PGDM Cybersecurity Leadership CXO Data Science Public Policy MCA Project Management Artificial Intelligence Finance MBA Management Digital Marketing healthcare Others Operations Management Skills you'll gain: Financial Analysis in Healthcare Financial Management & Investing Strategic Management in Healthcare Process Design & Analysis Duration: 12 Weeks Indian School of Business Certificate Program in Healthcare Management Starts on Jun 13, 2024 Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Bought a car on finance? You could claim £1,000s back! My Car Loan Claims Learn More "Retail's business performance registered customer base expanded to 358 million, along with significant improvement across operating metrics,' Reliance Industries chairman and managing director Mukesh Ambani said. Reliance Retail opened 388 new stores in the first quarter and had 77.6 million sq ft of retail space as of June-end. JioMart continued to expand quick hyper local deliveries posting 68% growth and 175% growth in daily orders. Consumer electronics business was driven by an average bill value growth, up 26%, and conversions increased 200 bps. AC sales, however, were impacted due to early onset of monsoon. Live Events In the fashion and lifestyle division, growth has picked up with multiple initiatives undertaken in the last four quarters, and emerging formats of GAP, Azorte, and Yousta posting 59% growth, which now operate over 170 stores. Within grocery, it saw broad based growth across categories with home and personal care growing at 15%, fruits and vegetables growing at 15% while packaged foods expanded 13% Reliance's consumer products business, which sells Campa and Independence, recorded sales of Rs 4400 crore during the quarter. 'Reliance Retail delivered resilient performance during this quarter driven by our relentless focus on operational excellence, geographical expansion and sharper product portfolio. Our continued investments in cutting-edge technologies and differentiated product offerings have enabled us to serve our customers better and scale with agility,' said Isha Ambani, executive director, Reliance Retail Ventures.
Fashion Network
06-05-2025
- Entertainment
- Fashion Network
Azorte collaborates with Hot Wheels for apparel line
Reliance Retail 's youth focused apparel and lifestyle brand Azorte has collaborated with American media franchise Hot Wheels. The omni-channel label has launched a collection of graphic, streetwear inspired garments for men and women to connect with fans of the global franchise. "From race tracks to your closet, Azorte x Hot Wheels is officially live," announced Azorte on Facebook, debuting the collection. "Not just a collectible, it's a statement. Hot Wheels collection is built for bold moves." The clothing line focuses on graphic t-shirts, featuring classic Hot Wheels imagery such as flames, race cars, and race bikes. The cartoon style imagery and relaxed fit garments are tailored to Gen Z tastes and current trends in line with Azorte's brand positioning. Reliance Retail launched Azorte online in 2022 then the business opened its first brick-and-mortar store in Bengaluru. Today, Azorte counts around 40 offline outlets, including its recent launch in Lucknow, and also retails on Reliance's multi-brand online platform Ajio.
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Business Standard
02-05-2025
- Business
- Business Standard
Reliance Retail targets new store profitability within a year or shut down
Reliance Retail has set a new rule for all upcoming stores: they must become profitable within six to 12 months. If not, they will be shut down or replaced with a different retail format, according to a report by The Economic Times. This is a big change from the earlier policy, which allowed up to two years to asses if a store could work. The move shows Reliance Retail is now more focused on profits and better margins, especially as it prepares for a future stock market listing (IPO). In a recent private meeting with analysts, the management said that details of the IPO would be shared 'in due course,' according to a company executive. The report mentioned that the company, which had a turnover of ₹2.91 trillion, will also slow down its store expansion. It now plans to open 500–550 stores a year, down from more than 1,000 earlier. In 2022-23, it had opened over 3,300 stores. In the last three years, Reliance Retail has also shut down over 3,650 stores that were not making money. Reliance Retail operates in many categories like electronics, groceries, clothes, footwear, jewellery, eyewear, medicine, and handicrafts. It runs stores under brands such as Reliance Fresh, Digital, Trends, and MyJio. 'The days of crazy expansion are over, but store count will definitely go up every year... Otherwise revenue growth rate will become slower,' a person aware of the company's plans told The Economic Times. According to him, the company is now more careful about where it opens new stores. 'With higher due diligence in location selection, over 90 per cent of the stores should achieve the breakeven target. Some may still not as market shifts by the time a store may come up,' he added. Reliance is also focusing on premium products, especially in grocery and fashion. Its high-end formats like Freshpik and Gofresh are doing well, said Chief Financial Officer Dinesh Taluja during an earnings call last week. It is revamping its budget fashion brand Trends to appeal more to young customers, using new technology similar to its other format, Azorte. Its profit margins over the last two years are improving too, due to a 'streamlining' process where it shut unprofitable stores and improved operations. Reliance also wants to earn profit in areas that usually lose money—like online shopping. Taluja said its 30-minute delivery model will compete with quick commerce 'in a profitable manner with a very strong unit economics.' He explained that deliveries will be made from nearby stores, not from special 'dark stores'. This helps cut fixed costs and allows extra sales with only small extra expenses.
