Reliance Retail Q1 net profit slips 14% to ₹2,805cr even as FMCG revenue doubles to ₹8,600cr

Q1FY27 revenue rose 7.4% to ₹90,408cr but net profit fell 14.1% and Ebitda dipped 1.1% at a 7.9% margin. RCPL doubled FMCG sales, led by Campa (up 50%+) and Independence (₹3,200cr). Added 252 stores to 20,169; digital at 27.3% of sales, Ajio Rush orders up 136% QoQ.

— Source publishedFri, 17 Jul, 2026, 22:17 IST·First seen Fri, 17 Jul, 2026, 22:23 IST·Source Mint

What happened

Reliance Retail's Q1FY27 net profit fell 14.1% to ₹2,805 crore, revenue up 7.4% to ₹90,408 crore. Added 252 stores; FMCG arm RCPL doubled revenue to ₹8,600

Key facts

  • net profit ₹2,805 crore down 14.1% YoY
  • revenue ₹90,408 crore up 7.4% YoY
  • Ebitda ₹6,309 crore down 1.1%
  • Ebitda margin 7.9%
  • 252 new stores
  • 20,169 total stores
  • FMCG revenue ₹8,600 crore doubled
  • Independence ₹3,200 crore
  • Campa ₹2,900 crore up 50%+
  • digital sales 27.3%
  • Ajio Rush orders up 136% QoQ
  • electronics LFL 16%

Why this matters

RCPL's FMCG revenue doubling to ₹8,600cr on the strength of Campa and Independence validates aggressive brand-building and points to further bolt-on acquisitions or private-label consolidation as the platform scales.

What to watch

  • Ebitda margin trajectory next 2 quarters (recovery above 8% vs. slippage)
  • RCPL FMCG profitability disclosure vs. revenue-only reporting
  • Campa market-share data against Coke/Pepsi
  • Ajio Rush unit economics and take-rate commentary
  • Reliance Retail IPO timing signals
  • Competitive response from HUL/Nestle and quick-commerce peers (Blinkit, Zepto)
  • Reliance leans further into Campa price-war expansion across regional beverages
  • Continued store additions targeting ~1,000+ net stores annually
  • Scale Ajio Rush quick-commerce footprint in tier-1/tier-2 cities
  • Push Independence FMCG into new categories to build a full private-label portfolio
  • Pre-IPO positioning narrative emphasizing FMCG doubling and digital penetration

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