Mukesh Ambani’s Two Consumer Businesses Turn Profitable, Outpacing Blinkit and Swiggy

Reliance Industries’ two major consumer businesses—Quick Commerce and FMCG—have started generating profits, a significant milestone considering their relatively recent launches. According to the Economic Times, Reliance’s large-scale procurement capabilities and focus on high-margin products have contributed to this success. In contrast, competitors Blinkit and Swiggy are yet to achieve overall profitability.

Profitability Milestones
Senior executives at Reliance shared the Q3 results on Friday, revealing that the Quick Commerce business is now profitable on nearly every order, meaning revenue exceeds operational costs per order. The Quick Commerce unit was launched in October 2024, while the FMCG business, started three years ago, has recently turned EBITDA-positive, though exact financial figures were not disclosed.

Key Drivers of Profit
Dinesh Taluja, Group CFO of Reliance Retail, highlighted two main factors behind the profits:

1. Largest Grocery Retail Network in India: Reliance’s vast grocery network makes it the largest buyer and supplier for most FMCG companies in India. Efficient sourcing practices have enabled the company to maintain strong margins.
2. High-Margin Product Mix: About one-third of Quick Commerce orders are in the Food & Beverage (F&B) category, which has higher margins. While traditional grocery stores often face 30-35% F&B wastage, Reliance has managed to control this, allowing competitive pricing while maintaining healthy profits.

Quick Commerce Growth
Reliance operates around 3,000 Quick Commerce outlets, including grocery stores and approximately 800 “dark stores” dedicated solely to deliveries. Taluja noted that Quick Commerce extends beyond groceries to include electronics and fashion, which are performing well.

In the quarter ending December 2025, the business processed an average of 1.6 million daily orders, marking a 53% quarter-on-quarter increase in average daily orders. Reliance Retail aims to become India’s second-largest Quick Commerce player, expanding its network and adding more dark stores to reduce delivery distances and enhance profitability per order.

Competitor Status
Meanwhile, Blinkit and Swiggy remain unprofitable overall. Blinkit reduced its losses to ₹156 crore in the September quarter, while Swiggy reported a 30% reduction in Quick Commerce contribution losses, which amounted to ₹181 crore.

Reliance’s strategic advantage in procurement, product mix, and operational efficiency has allowed it to achieve profitability in segments where even established players are still struggling.