Reliance Retail Ventures (RRVL), the holding company of Reliance Retail, on Friday reported a mixed set of numbers for the June quarter (Q1FY25), with consolidated net profit staying flat at Rs 2,453 crore versus the year-ago period. However, gross revenue in Q1 crossed Rs 75,000 crore, a year-on-year growth of 8.1%, as grocery and consumer electronics, the latter driven by sales of cooling category products as well as TVs, delivered robust growth, Dinesh Taluja, chief financial officer, Reliance Retail, said in a post-results earnings call.

Revenue from operations in Q1 increased by 6.6% year-on-year, reaching Rs 66,260 crore. Earnings before interest, tax, depreciation, and amortization (Ebitda) from operations grew by 11.5% compared to the same period last year, totaling Rs 5,448 crore.

In a statement, RRVL’s executive director Isha Ambani said that the retail business had delivered a “resilient” performance in Q1. “We are embracing innovation to improve products, processes and platforms,” she said.

Reported Ebitda, which includes Ebitda from operations and investment income of `216 crore, rose by 10.5% year-on-year in Q1 to Rs 5,664 crore. Taluja said Ebitda growth was led by an increase in footfalls and expansion of store footprint in the June quarter. The retailer added 331 new stores in Q1 to 18,918 outlets, with the area under operation at 81.3 million sqft. The quarter also recorded footfalls of over 296 million, a growth of 18.9% Y-o-Y, he added.

Meanwhile, Ebitda margins touched 8.22% in Q1 versus 7.86% reported in the year-ago period, up 36 basis points. One basis point is one-hundredth of a percentage point.

Sequentially, RRVL’s revenue from operations, net profit and Ebitda from operations declined 2%, 9.1% and 4.1% as the fashion and lifestyle segments remained muted due to a discretionary slowdown, Taluja said. Ebitda margins contracted 18 basis points in the June quarter when compared with the March quarter of FY24 (8.40% in Q4).

Taluja said that the focus on scaling up digital commerce and new commerce continued in Q1, with these channels contributing to 18% of total revenue. The registered customer base for the retailer grew to 316 million in Q1, up 18.4% versus the year-ago period. While the total number of transactions recorded in Q1 stood at 334 million, up 6.4% versus last year.

During the June quarter, Reliance Retail entered into a long-term licensing arrangement with ASOS, the UK’s leading online fashion retailer, to exclusively retail its curated portfolio of fashion labels across all online and offline channels in India.

Taluja also said that the retail business continued investments in stores, platform enhancements, product design and sourcing capabilities. These initiatives would help sustain growth momentum in the near and medium terms.