Reliance Retail Q1 revenue rises, but profit falls as e-commerce weighs

Reliance Retail reported Q1 gross revenue up 7.4% at Rs 90,408 crore, but profit declined as e-commerce investments and rising digital infrastructure costs pressured operating margins for the third straight quarter. EBITDA margin held sequentially at 7.9%, down from 8.7% a year ago, with management warning margins will remain under pressure over the next few quarters. The grocery e-commerce business, led by JioMart, posted 116% YoY growth in average daily orders, consumer electronics revenue rose 16% YoY, and the company added 252 stores to reach a network of 20,169 outlets.