Reliance Retail, the country’s largest organised retailer, on Friday reported a 24.5% year-on-year (y-o-y) decline in net profit to Rs 2,619 crore in the September quarter, due to higher investments in its quick commerce business and a shift in festive-season timing to the December quarter. Revenue growth in in the second quarter (Q2) was muted as discretionary spends were squeezed amid inflationary pressures. Gross revenue for the quarter stood at Rs 91,716 crore, up 6.4% y-o-y, adjusted for the demerger of its consumer brands business. Net revenue grew 5.8% y-o-y to Rs 80,220 crore. This figure is also adjusted for the demerger of the consumer brands business. Yet, analysts say that Reliance Retail’s topline in Q2 was driven by largely single-digit growth across grocery, electronics, and fashion and lifestyle segments amid a challenging operating environment.