Brands
Reliance Retail posts record revenue in festive Q3
MUMBAI: When shoppers splurged this festive season, Reliance Retail clearly cashed in. That was the message from Reliance Retail CFO and head of corporate development Dinesh Taluja as he walked analysts through the company’s performance during the earnings call following the unaudited financial results for the quarter and nine months ended December 31, 2025.
Speaking in the transcripted call, Taluja said the retail arm posted its highest-ever quarterly revenue of Rs.97,600 crore, up 8.1 per cent year-on-year, despite a shifting festive calendar and the impact of GST rate rationalisation from late September. EBITDA for the quarter stood at Rs.6,915 crore, translating into an 8 per cent margin, while profit after tax rose to nearly Rs.3,600 crore. Margins, he noted, were influenced by festive promotions, rapid investments in hyperlocal commerce and a one-time impact from the new labour code.
Hyperlocal commerce emerged as a standout growth lever. Reliance Retail ended the quarter with 1.6 million orders, clocking 53 per cent quarter-on-quarter growth and a striking 360 per cent rise year-on-year. The business now spans 5,000-plus pin codes across 1,000-plus cities, supported by over 3,000 stores, including a growing network of dark stores. Customer momentum remained strong, with 5.9 million new customers added during the quarter, pushing the base 43 per cent higher year-on-year.
Across categories, growth was broad-based. Grocery big-box formats delivered healthy like-for-like growth, while festive gifting drove record volumes. The B2B Metro business saw rising footfalls, aided by loyalty and engagement programmes for kirana partners. In fashion and lifestyle, Reliance continued to leverage its 1,300-plus city omnichannel network, enabling delivery windows ranging from 30 minutes to next day, a capability Taluja said competitors would struggle to replicate at scale.
Digital fashion platform Ajio also posted solid gains, with average order values up 21 per cent year-on-year, a live catalogue of 2.8 million options, and rapid expansion of services such as Ajio Rush, now live across 420 pin codes in 10 cities. Meanwhile, jewellery recorded strong value-led growth, with average bill values up 73 per cent, driven largely by higher gold prices and a surge in exchange-led purchases during Dhanteras.
Summing up his remarks on the call, Taluja pointed to scale, supply-chain depth and a dense store footprint as Reliance Retail’s key advantages. As he framed it, the quarter underscored how breadth across formats physical, digital and hyperlocal is steadily turning into a durable growth engine for the retail business.
Brands
Wipro hires 7,500 freshers, withholds FY27 hiring outlook
Profit rises to Rs 3,522 crore, Rs 15,000 crore buyback announced.
MUMBAI- Hiring may be on, but visibility is off, Wipro is adding talent even as it pauses the crystal ball. The company hired 7,500 freshers in FY26 but stopped short of offering any hiring outlook for FY27, underscoring the uncertainty gripping the IT services sector as it pivots towards an AI-led operating model.
The disclosure came alongside its fourth-quarter earnings, where management flagged volatile demand conditions and refrained from committing to future workforce expansion. Chief human resources officer Saurabh Govil noted that over 3,000 of the total hires were onboarded in the March quarter alone, signalling continued intake despite a lack of clarity on deployment pipelines.
This divergence active hiring without forward guidance reflects a broader industry pattern where talent acquisition continues even as deal conversions remain uneven and client spending cycles stretch. Wipro expects its IT services revenue for the June quarter to range between a decline of 2 per cent and flat growth sequentially in constant currency terms, reinforcing near-term caution.
Chief executive officer Srini Pallia pointed to artificial intelligence as both a disruptor and an opportunity. He said evolving client priorities are pushing the company towards outcome-driven engagements, with Wipro increasingly focusing on a services-as-software model through its AI Native Business and Platforms unit. The shift marks a structural change from traditional headcount-led growth to AI-enabled delivery frameworks.
The company has already committed over $1 billion to its AI ecosystem, with investors closely watching how these investments translate into revenue. For now, the numbers present a mixed picture. Net profit rose sequentially to Rs 3,522 crore, while revenue grew 3 per cent to Rs 24,236 crore. However, core IT services performance remained under pressure, with full-year revenue declining 0.3 per cent in dollar terms and 1.6 per cent in constant currency.
Large deal bookings offered a counterpoint, rising 45.4 per cent year-on-year to $7.8 billion, highlighting a widening gap between deal wins and actual revenue realisation. On a quarterly basis, IT services revenue slipped 1.2 per cent sequentially, signalling continued softness in execution.
Margins, however, told a more optimistic story. Operating margins expanded to 17.3 per cent in the fourth quarter, up from 14.8 per cent in the previous quarter, reflecting improved cost discipline. That said, the company cautioned that upcoming wage hikes and the ramp-up of large deals could exert pressure going forward.
Attrition stood at 13.8 per cent in the March quarter, indicating stabilisation after periods of elevated churn. Alongside its earnings, Wipro also announced a Rs 15,000 crore share buyback, reinforcing its focus on shareholder returns, with a payout ratio of 88 per cent over the past three years.
Taken together, the numbers capture a company in transition investing in AI, maintaining hiring momentum, but navigating a demand environment where growth is uneven and visibility remains limited.
