In its Q3 FY26 earnings announcement on January 16, 2026, Reliance Industries (RIL) confirmed that its quick commerce venture, JioMart, has achieved a critical financial milestone by becoming contribution margin positive.
The company also highlighted that its FMCG business (Reliance Consumer Products), which it entered just three years ago, has now become EBITDA positive.
The Path to Profitability
Reliance Retail’s leadership attributed this shift to the company’s massive scale and unique infrastructure:
- Sourcing Advantage: As India’s largest retailer, Reliance leverages “efficient sourcing” with high margins, acting as the primary vendor for most FMCG companies in the country.
- Category Mix: High-margin segments, particularly Food & Beverages (F&B), drive the bottom line. F&B accounts for one in every three quick commerce orders.
- Wastage Control: Reliance has successfully reduced F&B wastage, which typically plagues smaller competitors and kiranas (who often face 30–35% wastage).
- Infrastructure Synergy: Reliance utilizes its existing network of ~20,000 stores as fulfillment centers, supplemented by approximately 800 dedicated dark stores.
JioMart: India’s New No. 2 in Quick Commerce
The surge in profitability is backed by an explosive increase in volume, making JioMart the fastest-growing player in the hyperlocal segment.
| Metric | Q3 FY26 Performance | Growth (YoY / QoQ) |
| Daily Order Run-Rate | 1.6 Million Orders | +360% YoY / +53% QoQ |
| Market Position | #2 in India | Surpassed Swiggy Instamart |
| Coverage | 5,000+ Pin codes | Across 1,000+ Cities |
| New Customers | 5.9 Million added | 43% expansion in base |
The “Quick” Race (Daily Orders)
- Blinkit: ~2.4 Million (as of Q2 FY26)
- JioMart: 1.6 Million (as of Q3 FY26)
- Swiggy Instamart: ~1.1 Million (as of Q2 FY26)
Retail Financial Overview (Q3 FY26)
While quick commerce is booming, the broader retail segment saw a slight moderation in overall margins due to aggressive investments:
- Gross Revenue: ₹97,605 Crore (+8.1% YoY)
- EBITDA: ₹6,915 Crore
- EBITDA Margin: 8.0% (down from 8.6% last year)
- Transaction Frequency: Reliance claimed that its digital platform engagement is roughly twice that of its competitors.
