Reliance Retail profit subdued amid FMCG demerger, GST cuts

RELIANCE RETAIL ON Friday reported its slowest profit growth in five quarters for the October-December (Q3 FY26) period, with net profit rising 2.7% year-on-year to ₹3,551 crore, hurt by a split in festive-season spending across two quarters.

- VIVEAT SUSAN PINTO

A demerger of the fast-moving consumer goods business under Reliance Consumer Products, effective December 1, and goods and services tax rate cuts also contributed to the muted profit growth, the company said on a post-results earnings call.

Gross revenue in the quarter rose 8.1% (yo-y) to a record ₹97,065 crore. At the net level, however, revenue grew 9.2% (yo-y) to ₹86,951 crore, marking the slowest growth in four quarters. Earnings before interest, tax, depreciation and amortisation (Ebitda) increased 2.1% (yo-y), the slowest pace in five quarters, to ₹6,770 crore.